This section says Chapter 302 does not apply to several listed persons and regulated activities, with a limited exception for certain Public Utility Commission-regulated persons or affiliates involving automated dial announcing devices.
Sec. 302.053. EXEMPTION: PERSONS REGULATED BY OTHER LAW. This chapter does not apply to: (1) a person offering or selling a security that has been qualified for sale under Chapter 4003, Government Code, or that is subject to an exemption under Chapter 4005, Government Code; (2) a publicly traded corporation registered with the Securities and Exchange Commission or the State Securities Board, or a subsidiary or agent of the corporation; (3) a person who holds a license issued under the Insurance Code if the solicited transaction is governed by that code; (4) a supervised financial institution or a parent, a subsidiary, or an affiliate of a supervised financial institution; (5) a person whose business is regulated by the Public Utility Commission of Texas or an affiliate of that person, except that this chapter applies to such a person or affiliate only with respect to one or more automated dial announcing devices; (6) a person subject to the control or licensing regulations of the Federal Communications Commission; (7) a person selling a contractual plan regulated by the Federal Trade Commission trade regulation on use of negative option plans by sellers in commerce under 16 C.F.R. Part 425; (8) a person subject to filing requirements under Chapter 1803, Occupations Code; or (9) a person who: (A) is soliciting a transaction regulated by the Commodity Futures Trading Commission; and (B) is registered or holds a temporary license for the activity described by Paragraph (A) with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), if the registration or license has not expired or been suspended or revoked. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009. Amended by: Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.03, eff. January 1, 2022.