Tex. Gov't Code § 4008.051 – Offeror or Seller Liability: Registration and Related Violations

(a) A person who offers or sells a security in violation of the following is liable to a person who buys the security from the offeror or seller:
1. (1) Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103;
2. (2) Subchapter G, Chapter 4003, other than Section 4003.304, or a requirement of the commissioner under Subchapter G, Chapter 4003, other than Section 4003.304; or
3. (3) an order under Section 4007.101 or 4007.104.
(b) The buyer of the security may sue for:
1. (1) rescission; or
2. (2) damages if the buyer no longer owns the security.

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

Acts 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280), Sec. 1, eff. January 1, 2022.