The exemption provided by Section 4005.001 applies to:

1. (1) the sale, by the issuer itself or by a registered dealer, of any security issued or guaranteed by:

   1. (A) a bank organized and subject to regulation under the laws of:

      1. (i) the United States; or
      2. (ii) a state, territory, or insular possession of the United States; or
   2. (B) a savings and loan association organized and subject to regulation under the laws of this state; or
2. (2) the sale, by the issuer itself, of any security issued by a federal savings and loan association.

Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.