Texas § GV.4005.012 - PRIVATE LIMITED OFFERINGS
Full text of Texas The Texas Constitution § GV.4005.012 — PRIVATE LIMITED OFFERINGS, with citation guidance and answers to common questions.
§ GV.4005.012. PRIVATE LIMITED OFFERINGS
PRIVATE LIMITED OFFERINGS. (a) The exemption provided by Section 4005.001 applies to the following sales made without any public solicitation or advertisement: (1) the sale of a security by the issuer of the security if the total number of security holders of the issuer does not exceed 35 persons after the sale; or (2) the sale by an issuer of the issuer's securities to not more than 15 persons during the 12-month period ending with the date of the sale if the persons purchased the securities for their own account and not for distribution. (b) For the purpose of determining the number of persons under Subsection (a)(2), the following persons are not included: (1) a purchaser of a security in a transaction exempt under another provision of this subchapter; (2) a purchaser of a security exempt under Subchapter B; and (3) a purchaser of a security that is part of an offering registered under Subchapter A, B, or C, Chapter 4003 . Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.4005.012
What does The Texas Constitution § GV.4005.012 cover?
Section GV.4005.012 ("PRIVATE LIMITED OFFERINGS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.4005.012?
A common citation format is "The Texas Constitution § GV.4005.012" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.4005.012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.