Tex. Gov't Code Section 4006.153
Fee for Sales of Unregistered Securities


If, after notice and hearing, the commissioner or a court finds that an offeror has sold securities in this state pursuant to an offering no part of which has been registered under Chapter 4003 (Securities) and for which the transactions or securities are not exempt under Chapter 4005 (Exemptions), the commissioner or court may impose a fee equal to:


six times the amount that would have been paid if the issuer had filed an application or registration statement to register the securities and paid the fee required under Section 4006.055 (Examination of Certain Applications or Registration Statements) based on the aggregate amount of sales made in this state in the preceding three years; and


interest on that amount at the rate provided by Section 302.002 (Accrual of Interest When No Rate Specified), Finance Code, from the date of the first such sale made in this state until the date the fee is paid.


Payment of the fee prescribed by this section does not effect registration of the securities or affect the application of any other provision of this title.


Payment of the fee prescribed by this section is not an admission that the transactions or securities were not exempt and is not admissible as evidence in a suit or proceeding for failure to register the securities.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.

Source: Section 4006.153 — Fee for Sales of Unregistered Securities, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­4006.­htm#4006.­153 (accessed Jun. 5, 2024).

Jun. 5, 2024

§ 4006.153’s source at texas​.gov