Texas Government Code 4001.068 – Security
(a) The term “security”:
(1) includes:
(A) a limited partner interest in a limited partnership;
(B) a share;
(C) a stock;
(D) a treasury stock;
(E) a stock certificate under a voting trust agreement;
(F) a collateral trust certificate;
(G) an equipment trust certificate;
(H) a preorganization certificate or receipt;
(I) a subscription or reorganization certificate;
(J) a note, bond, debenture, mortgage certificate, or other evidence of indebtedness;
(K) any form of commercial paper;
(L) a certificate in or under a profit sharing or participation agreement;
(M) a certificate or instrument representing an interest in or under an oil, gas, or mining lease, fee, or title;
(N) a certificate or instrument representing or secured by an interest in any of the capital, property, assets, profits, or earnings of a company;
(O) an investment contract; and
(P) any other instrument commonly known as a security, regardless of whether the instrument is similar to another instrument listed in this subsection; and
(2) applies regardless of whether the security is evidenced by a written instrument.
(b) “Security” does not include an insurance policy, endowment policy, annuity contract, or optional annuity contract, or any contract or agreement in relation to and in consequence of any such policy or contract, issued by an insurance company subject to the supervision or control of the Texas Department of Insurance when the form of such policy or contract has been filed with the department as required by law.
Terms Used In Texas Government Code 4001.068
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: means real and personal property. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005