{"data":{"id":"us-tx/tex.-government-code-4005.053","jurisdiction":"us-tx","citation":"Tex. Government Code § 4005.053","heading":"NONPROFIT CORPORATIONS.","body":"The exemption provided by Section 4005.051 applies to a security issued and sold by a domestic corporation that:\n(1) is not organized and engaged in business for profit; and\n(2) does not have capital stock.\nAdded by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.","path":["GOVERNMENT CODE","TITLE 12. SECURITIES ACT","CHAPTER 4005. EXEMPTIONS","SUBCHAPTER B. EXEMPT SECURITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4005.htm#4005.053","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"b8f78320d988dcbf6c065b8b21a58c1f07bd328b7a9a6f1a159bf1b6997e5870","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-4005.052","next":"us-tx/tex.-government-code-4005.054"},"notice":"GroundRules: Original legal text. Not legal advice."}