STATUTE OF LIMITATIONS.
Tex. GOV'T Code § 4008.062.
in effect(a) A person may not sue under Section 4008.051 or 4008.055 to the extent that section relates to Section 4008.051 :
(1) more than three years after the date of the sale;
(2) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person:
(A) rejected the offer in writing within 30 days of the date the person received the offer; and
(B) expressly reserved in the rejection the right to sue; or
(3) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058 .
(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 :
(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;
(2) more than five years after the date of the sale;
(3) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person:
(A) rejected the offer in writing within 30 days of the date the person received the offer; and
(B) expressly reserved in the rejection the right to sue; or
(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058 .
(c) A person may not sue under Section 4008.053 or 4008.055 to the extent that section relates to Section 4008.053 :
(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;
(2) more than five years after the date of the purchase;
(3) if the person received a rescission offer meeting the requirements of Section 4008.059 before suit, unless the person:
(A) rejected the offer in writing within 30 days of the date the person received the offer; and
(B) expressly reserved in the rejection the right to sue; or
(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.059 .
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.
SUBCHAPTER C. CIVIL LIABILITY OF INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES