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2025 Texas Statutes
Water Code
Title 4 - General Law Districts
Chapter 67 - Nonprofit Water Supply or Sewer Service Corporations
Subchapter A. General Provisions
Section 67.015. Exemption From Securities Act
Universal Citation:
TX Water Code § 67.015 (2025)
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Sec. 67.015. EXEMPTION FROM SECURITIES ACT. The Securities Act (Title 12, Government Code) does not apply to:
(1) a note, bond, or other evidence of indebtedness issued by a corporation doing business in this state to the United States;
(2) an instrument executed to secure a debt of a corporation to the United States; or
(3) the issuance of a membership certificate or stock certificate of a corporation.
Added by Acts 1997, 75th Leg., ch. 166, Sec. 2, eff. Sept. 1, 1997.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.44, eff. January 1, 2022.
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