{"data":{"id":"us-tx/tex.-finance-code-89.005","jurisdiction":"us-tx","citation":"Tex. Finance Code § 89.005","heading":"EXEMPTION FROM SECURITIES LAWS.","body":"A savings account, certificate, or other evidence of an interest in the savings liability of an association or federal association is not considered a security under The Securities Act (Title 12, Government Code). A security of these associations, other than an interest in the savings liability of an association, is not subject to the registration requirements of that act. A person whose principal occupation is being an officer of an association 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 association 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. 2.12, eff. January 1, 2022.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS","CHAPTER 89. MISCELLANEOUS PROVISIONS APPLICABLE TO SAVINGS AND LOAN ASSOCIATIONS","SUBCHAPTER A. GENERAL MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.89.htm#89.005","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"3e02052b9f56f0dfcc1fe925b1d12c69c6cf1206e5443d1094816a253afcf1c3","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-89.004","next":"us-tx/tex.-finance-code-89.006"},"notice":"GroundRules: Original legal text. Not legal advice."}