OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.
Tex. GOV'T Code § 4008.051.
in effect(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:
(1) Section 4003.001 (a), 4004.051 , 4004.052 , 4004.101 (a), 4004.102 (a), or 4007.103 ;
(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
(3) an order under Section 4007.101 or 4007.104 .
(b) The buyer of the security may sue for:
(1) rescission; or
(2) damages if the buyer no longer owns the security.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.