Texas Government Code 4003.203 – Authorized Written, Printed, or Broadcast Offers
Terms Used In Texas Government Code 4003.203
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
A person may make in this state a written or printed offer, including a pictorial demonstration with any accompanying script, or broadcast offer to sell a security if:
(1) a copy of the offer is filed with the commissioner not later than the 10th day after the date of the offer’s first use in this state;
(2) the person making or distributing the offer is a registered dealer or registered agent of a registered dealer;
(3) either:
(A) the security is registered under Subchapter B or C or the commissioner has issued a permit qualifying securities for sale for the security under Subchapter A; or
(B) an application for registration under Subchapter B or C or for a permit under Subchapter A has been filed with the commissioner;
(4) for a registration for the security that has not become effective under Subchapter B or C or for a permit that has not been issued under Subchapter A, the offer prominently states on the first page of a written or printed offer or as a preface to any pictorial or broadcast offer either:
(A) “INFORMATIONAL ADVERTISING ONLY.