Exemption from Application of Securities Act

Electric Cooperative Corporations · Creation and Operation of Electric Cooperatives

The Securities Act (Title 12, Government Code) does not apply to:

(1) an obligation issued to secure a debt of an electric cooperative to the United States; or

(2) the issuance of a membership certificate by an electric cooperative.

Official text of the Texas Utilities Code as published by the Texas Legislative Council.

Legislative history

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.

Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.42, eff. January 1, 2022.