(a) A disclosure statement must contain a statement disclosing any person described by Section 51.153 who:

1. (1) has, during the previous seven fiscal years:

   1. (A) been convicted of a felony, or pleaded nolo contendere to a felony charge, involving fraud, embezzlement, fraudulent conversion, or misappropriation of property; or

   2. (B) been held liable in a civil action resulting in a final judgment, or has settled out of court a civil action, involving:

      1. (i) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;
      2. (ii) the use of untrue or misleading representations in an attempt to sell or dispose of property; or
      3. (iii) the use of unfair, unlawful, or deceptive business practices;

2. (2) is a party to a civil action involving:

   1. (A) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;
   2. (B) the use of untrue or misleading representations in an attempt to sell or dispose of property; or
   3. (C) the use of unfair, unlawful, or deceptive business practices; or
3. (3) is subject to an injunction or restrictive order relating to business activity as a result of an action brought by a public agency or department.

(b) A statement required by Subsection (a) must include:

1. (1) the identity and location of any court or agency;
2. (2) the date of any entry of a plea of nolo contendere, conviction, judgment, or decision;
3. (3) any penalty imposed;
4. (4) any damages assessed;
5. (5) the terms of any settlement or order; and

6. (6) the date, nature, and issuer of any order or ruling.

   Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.