{"data":{"id":"us-tx/tex.-business-commerce-code-51.161","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 51.161","heading":"CONTENTS: LEGAL ACTION HISTORY.","body":"(a) A disclosure statement must contain a statement disclosing any person described by Section 51.153 who:\n(1) has, during the previous seven fiscal years:\n(A) been convicted of a felony, or pleaded nolo contendere to a felony charge, involving fraud, embezzlement, fraudulent conversion, or misappropriation of property; or\n(B) been held liable in a civil action resulting in a final judgment, or has settled out of court a civil action, involving:\n(i) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;\n(ii) the use of untrue or misleading representations in an attempt to sell or dispose of property; or\n(iii) the use of unfair, unlawful, or deceptive business practices;\n(2) is a party to a civil action involving:\n(A) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;\n(B) the use of untrue or misleading representations in an attempt to sell or dispose of property; or\n(C) the use of unfair, unlawful, or deceptive business practices; or\n(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.\n(b) A statement required by Subsection (a) must include:\n(1) the identity and location of any court or agency;\n(2) the date of any entry of a plea of nolo contendere, conviction, judgment, or decision;\n(3) any penalty imposed;\n(4) any damages assessed;\n(5) the terms of any settlement or order; and\n(6) the date, nature, and issuer of any order or ruling.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.","path":["BUSINESS AND COMMERCE CODE","TITLE 4. BUSINESS OPPORTUNITIES AND AGREEMENTS","CHAPTER 51. BUSINESS OPPORTUNITIES","SUBCHAPTER D. DISCLOSURE STATEMENT"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.51.htm#51.161","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"b8895f5e7c2f3fccc490a4a90f3d7ea425de95cbf9b1e1af34bbf6c61d0f5e6a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-51.160","next":"us-tx/tex.-business-commerce-code-51.162"},"notice":"GroundRules: Original legal text. Not legal advice."}