Texas § BC.51.161 - CONTENTS

§ BC.51.161. CONTENTS

CONTENTS: LEGAL ACTION HISTORY. (a) A disclosure statement must contain a statement disclosing any person described by Section 51.153 who: (1) has, during the previous seven fiscal years: (A) been convicted of a felony, or pleaded nolo contendere to a felony charge, involving fraud, embezzlement, fraudulent conversion, or misappropriation of property; or (B) been held liable in a civil action resulting in a final judgment, or has settled out of court a civil action, involving: (i) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property; (ii) the use of untrue or misleading representations in an attempt to sell or dispose of property; or (iii) the use of unfair, unlawful, or deceptive business practices; (2) is a party to a civil action involving: (A) allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property; (B) the use of untrue or misleading representations in an attempt to sell or dispose of property; or (C) the use of unfair, unlawful, or deceptive business practices; or (3) is subject to an injunction or restrictive order relating to business activity as a result of an action brought by a public agency or department. (b) A statement required by Subsection (a) must include: (1) the identity and location of any court or agency; (2) the date of any entry of a plea of nolo contendere, conviction, judgment, or decision; (3) any penalty imposed; (4) any damages assessed; (5) the terms of any settlement or order; and (6) the date, nature, and issuer of any order or ruling. Amended by: Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 2.01, eff. April 1, 2009.