{"data":{"id":"us-tx/tex.-government-code-4005.055","jurisdiction":"us-tx","citation":"Tex. Government Code § 4005.055","heading":"COMMERCIAL PAPER.","body":"The exemption provided by Section 4005.051 applies to:\n(1) commercial paper that:\n(A) arises out of a current transaction or the proceeds of which have been or are to be used for current transactions; and\n(B) evidences an obligation to pay cash not later than the ninth month after the issuance date of the commercial paper, not including days of grace;\n(2) a renewal of commercial paper described by Subdivision (1) that is similarly limited; or\n(3) a guarantee of commercial paper described by Subdivision (1) or of a renewal described by Subdivision (2).\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#4005.055","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"67ed468ab1d6ebed19a9a832f1e5c5d1e266f647bd4d702b610743bd597e6654","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-4005.054","next":"us-tx/tex.-government-code-4005.056"},"notice":"GroundRules: Original legal text. Not legal advice."}