{"data":{"id":"us-tx/tex.-government-code-4008.062","jurisdiction":"us-tx","citation":"Tex. Government Code § 4008.062","heading":"STATUTE OF LIMITATIONS.","body":"(a) A person may not sue under Section 4008.051 or 4008.055 to the extent that section relates to Section 4008.051:\n(1) more than three years after the date of the sale;\n(2) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person:\n(A) rejected the offer in writing within 30 days of the date the person received the offer; and\n(B) expressly reserved in the rejection the right to sue; or\n(3) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058.\n(b) A person may not sue under Section 4008.052, 4008.054, or 4008.055 to the extent that section relates to Section 4008.052 or 4008.054:\n(1) more than three years after the date of discovery of the untruth or omission, or after the date discovery should have been made by the exercise of reasonable diligence;\n(2) more than five years after the date of the sale;\n(3) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person:\n(A) rejected the offer in writing within 30 days of the date the person received the offer; and\n(B) expressly reserved in the rejection the right to sue; or\n(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058.\n(c) A person may not sue under Section 4008.053 or 4008.055 to the extent that section relates to Section 4008.053:\n(1) more than three years after the date of discovery of the untruth or omission, or after the date discovery should have been made by the exercise of reasonable diligence;\n(2) more than five years after the date of the purchase;\n(3) if the person received a rescission offer meeting the requirements of Section 4008.059 before suit, unless the person:\n(A) rejected the offer in writing within 30 days of the date the person received the offer; and\n(B) expressly reserved in the rejection the right to sue; or\n(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.059.\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 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#4008.062","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"43a45ee949df89abb0386ea105f8a0ea42babd618707759cf4d416f8e52f22f0","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-4008.061","next":"us-tx/tex.-government-code-4008.101"},"notice":"GroundRules: Original legal text. Not legal advice."}