{"data":{"id":"us-tx/tex.-finance-code-119.007","jurisdiction":"us-tx","citation":"Tex. Finance Code § 119.007","heading":"EXEMPTION FROM SECURITIES LAWS.","body":"A deposit account, certificate, or other evidence of an interest in the deposit liability of a savings bank or federal savings bank is not considered a security under The Securities Act (Title 12, Government Code). A security of these savings banks, other than an interest in the deposit liability of a savings bank, is not subject to the registration requirements of that Act. A person whose principal occupation is being an officer of a savings bank is exempt from the registration and licensing provisions of that Act with respect to that person's participation in a sale or other transaction involving securities of the savings bank of which the person is an officer.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.13, eff. January 1, 2022.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE C. SAVINGS BANKS","CHAPTER 119. MISCELLANEOUS PROVISIONS APPLICABLE TO SAVINGS BANKS","SUBCHAPTER A. GENERAL MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.119.htm#119.007","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"c306026735235a0889cbd1ab916990813d8e3b90f9100c88c00344a0b2d7b96e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-119.006","next":"us-tx/tex.-finance-code-119.008"},"notice":"GroundRules: Original legal text. Not legal advice."}