Texas § GV.4005.004 - ISOLATED TRANSACTIONS
Full text of Texas The Texas Constitution § GV.4005.004 — ISOLATED TRANSACTIONS, with citation guidance and answers to common questions.
§ GV.4005.004. ISOLATED TRANSACTIONS
ISOLATED TRANSACTIONS. (a) The exemption provided by Section 4005.001 applies to the sale of a security that is made by a vendor or on a vendor's behalf by a dealer or other agent and is made in the ordinary course of a bona fide personal investment of the vendor's personal holdings or a change in the investment if: (1) the vendor is not engaged in the business of selling securities; and (2) the sale is an isolated transaction not made in the course of repeated and consecutive transactions of a like character. (b) A sale or offer for sale under Subsection (a) is not exempt from this title if the sale or offer is made or intended to be made by the vendor or the vendor's agent for the direct or indirect benefit of a company other than the individual vendor. The usual commission of a vendor's agent is not a benefit for the purposes of this subsection. (c) A person acting as an agent for a vendor in any sale or offer for sale under Subsection (a) must be registered under this title. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.
Frequently Asked Questions About Texas § GV.4005.004
What does The Texas Constitution § GV.4005.004 cover?
Section GV.4005.004 ("ISOLATED TRANSACTIONS") 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.4005.004?
A common citation format is "The Texas Constitution § GV.4005.004" (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.4005.004 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.