{"data":{"id":"us-tx/tex.-government-code-4008.051","jurisdiction":"us-tx","citation":"Tex. Government Code § 4008.051","heading":"OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.","body":"(a) A person who offers or sells a security in violation of the following is liable to a person who buys the security from the offeror or seller:\n(1) Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103;\n(2) Subchapter G, Chapter 4003, other than Section 4003.304, or a requirement of the commissioner under Subchapter G, Chapter 4003, other than Section 4003.304; or\n(3) an order under Section 4007.101 or 4007.104.\n(b) The buyer of the security may sue for:\n(1) rescission; or\n(2) damages if the buyer no longer owns the security.\nAdded by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.\nAmended by:\nActs 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280), Sec. 1, eff. January 1, 2022.","path":["GOVERNMENT CODE","TITLE 12. SECURITIES ACT","CHAPTER 4008. PRIVATE RIGHTS OF ACTION","SUBCHAPTER B. CIVIL LIABILITY FOR ISSUANCE, SALE, OR PURCHASE OF SECURITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4008.htm#4008.051","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"7e581d077db6d8fe670d990dc6ddcce6097b3af827d5c5d8591b0cb67c590512","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-4008.006","next":"us-tx/tex.-government-code-4008.052"},"notice":"GroundRules: Original legal text. Not legal advice."}