HB 1744
AN ACT relating to the personal liability of control persons and material
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to House committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
Modifies Texas law regarding personal liability for control persons and material aiders in securities-related claims. Specifically, it excludes certain claims involving controlling persons or aiders under Section 4008.055 of the Texas Government Code from standard proportionate responsibility rules. The change means that individuals who are deemed controlling persons or material aiders in securities transactions may face different legal standards when determining liability, potentially making it easier to pursue claims against them.
Subject Areas
Bill Text
relating to the personal liability of control persons and material aiders under the Texas Securities Act; excluding claims from proportionate responsibility under Chapter 33 of the Texas Civil BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 33.002, Civil Practice and Remedies Code, is amended by adding subsection (c)(4) to read as follows: (c) This chapter does not apply to: (1) an action to collect workers' compensation benefits under the workers' compensation laws of this state (Subtitle A, Title 5, Labor Code) or actions against an employer for exemplary damages arising out of the death of an (2) a claim for exemplary damages including in an action to which this chapter otherwise applies; or (3) a cause of action for damages arising from the manufacture of methamphetamine as described by Chapter 99 (4) a claim for controlling person or aider liability under Section 4008.055 of the Texas Government Code. SECTION 2. This Act takes effect September 1, 2025.
Bill Sponsors
Legislators who authored or co-sponsored this bill.
Bill History
Bill filed: AN ACT relating to the personal liability of control persons and material
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