# Tex. Finance Code § 31.007: EXEMPTION OF BANK DIRECTORS AND PERSONNEL FROM SECURITIES LAW

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.007

## Section

- **Citation:** Tex. Finance Code § 31.007
- **Heading:** EXEMPTION OF BANK DIRECTORS AND PERSONNEL FROM SECURITIES LAW
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code fi / Chapter 31 / Section 31.007

## Text

(a) An officer, director, or employee of a bank that has its main office or a branch located in this state with fewer than 500 shareholders or of a bank holding company with fewer than 500 shareholders that controls a bank that has its main office or a branch located in this state is exempt from the registration and licensing provisions of The Securities Act (Title 12, Government Code) with respect to that person's participation in a transaction, including a sale, involving securities issued by:

(1) the bank or bank holding company of which that person is an officer, director, or employee;

(2) a bank holding company that controls the bank of which that person is an officer, director, or employee; or

(3) a bank controlled by the bank holding company of which that person is an officer, director, or employee.

(b) A person may not be compensated for services performed under the exemption provided by this section.

## Nearby sections

- [Tex. Finance Code § 31.001 § 31.001. SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.001.md)
- [Tex. Finance Code § 31.002 § 31.002. DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.002.md)
- [Tex. Finance Code § 31.003 § 31.003. BANKING RULES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.003.md)
- [Tex. Finance Code § 31.004 § 31.004. UNAUTHORIZED BANKING.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.004.md)
- [Tex. Finance Code § 31.005 § 31.005. IMPLYING THAT PERSON IS BANK.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.005.md)
- [Tex. Finance Code § 31.006 § 31.006. LIABILITY OF DEPOSITORY INSTITUTION DIRECTORS AND PERSONNEL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.006.md)
- [Tex. Finance Code § 31.007 § 31.007. EXEMPTION OF BANK DIRECTORS AND PERSONNEL FROM SECURITIES LAW.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.007.md)
- [Tex. Finance Code § 31.101 § 31.101. GENERAL DUTIES OF BANKING COMMISSIONER.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.101.md)
- [Tex. Finance Code § 31.102 § 31.102. ISSUANCE OF INTERPRETIVE STATEMENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.102.md)
- [Tex. Finance Code § 31.103 § 31.103. ISSUANCE OF OPINION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.103.md)
- [Tex. Finance Code § 31.104 § 31.104. EFFECT OF INTERPRETIVE STATEMENT OR OPINION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.104.md)
- [Tex. Finance Code § 31.105 § 31.105. EXAMINATION REQUIRED.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.105.md)
- [Tex. Finance Code § 31.106 § 31.106. COST OF REGULATION.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.106.md)
- [Tex. Finance Code § 31.107 § 31.107. REGULATION AND EXAMINATION OF RELATED ENTITIES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.107.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Cfi_C31_S31.007. Check the current official text before relying on it. Not legal advice.