Unsolicited Orders

Sec. 4005.020. UNSOLICITED ORDERS. The exemption provided by Section 4005.001 applies to a dealer's execution of an unsolicited order for the purchase of securities for which the initial offering of the securities has been completed if the dealer: (1) acts solely as an agent for the purchaser; (2) does not have a direct or indirect interest in the sale or distribution of securities ordered; and (3) does not receive a commission, profit, or other compensation from any source other than the purchaser. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.