SB1239

Signed by Governor
Authored by Mayes Middleton (R)
View at Source

Caption: Relating to choice of law and assignment or acquisition of claims and demands in connection with certificated and uncertificated securities.
Initially Referred to Senate Business & Commerce Committee, chaired by a Republican
Last Referred to House Trade, Workforce & Economic Development Committee, chaired by a Republican
SB 1239 clarifies choice-of-law rules and the transfer of claims related to securities. The bill specifies that if a security is deemed invalid under local law, the governing law chosen by the issuer in security-related documents determines the legal consequences. It also expands the rights acquired by purchasers of securities, ensuring they receive not only the security itself but also any associated claims or demands for damages. The bill prevents issuers and other obligated parties from asserting defenses against claims based on the purchaser's intent to enforce their rights.

Sponsors: Lambert (R)

Feb 12, 2025


(S) Middleton signed onto the bill as Author
(S) Received by the Secretary of the Senate
(S) Filed
 

Feb 28, 2025


(S) Read first time
(S) Referred to the Senate Business & Commerce, chaired by a Republican
 

Mar 25, 2025


(S) Scheduled for public hearing on . . .
(S) Considered in public hearing
(S) Testimony taken in committee
(S) Left pending in committee
 

Mar 27, 2025


(S) Considered in public hearing
(S) Vote taken in committee
 

Mar 31, 2025


(S) Reported favorably as substituted
(S) Recommended for local & uncontested calendar
(S) Committee report printed and distributed
 

Apr 10, 2025


(S) Placed on local & uncontested calendar
(S) Laid before the Senate
(S) Read 2nd time & passed to engrossment
(S) Vote recorded in Journal
(S) Three day rule suspended
(S) Record vote
(S) Read 3rd time
(S) Passed
(S) Record vote
(S) Reported engrossed
 

Apr 14, 2025


(H) Received from the Senate
 

Apr 17, 2025


(H) Read first time
(H) Referred to the House Trade, Workforce & Economic Development, chaired by a Republican
 

Apr 30, 2025


(H) Considered in public hearing
(H) Reported favorably w/o amendment(s)
 

May 7, 2025


(H) Comte report filed with Committee Coordinator
(H) Committee report distributed
 

May 8, 2025


(H) Committee report sent to Calendars
 

May 15, 2025


(H) Considered in Calendars
 

May 19, 2025


(H) Placed on General State Calendar
(H) Read 2nd time
(H) Passed to 3rd reading
(H) Record vote

RV#2965: Yea 136 (R 86, D 50) - Nay 8 (R 0, D 8)
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Yea - Alders; Allen; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Bryant; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Craddick; Cunningham; Curry; Darby; Davis, A.; Davis, Y.; Dean; DeAyala; Dorazio; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, J.; Garcia, L.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, M.; Goodwin; Guerra; Guillen; Harless; Harris; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Holt; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, J.; Jones, V.; Kerwin; King; Kitzman; LaHood; Lambert; Landgraf; Leach; Leo Wilson; Little; Longoria; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Manuel; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Money; Moody; Morales, E.; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Raymond; Richardson; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Villalobos; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Wu; Zwiener

Nay - Bowers; Gonzalez, J.; Hinojosa; Meza; Morales, C.; Morales Shaw; Reynolds; Rodriguez Ramos

Present, Not Voting - Burrows; Vasut

Please note: the following statements by legislators do not affect the vote count that was recorded.

John Bryant: "When Record No. 2965 was taken, I was shown voting yes. I intended to vote no." (view other statements of vote for this Rep)

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


 

May 20, 2025


(H) Read 3rd time
(H) Passed
(H) Record vote

RV#3035: Yea 136 (R 86, D 50) - Nay 10 (R 0, D 10)
View Source

Yea - Alders; Allen; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, A.; Davis, Y.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, J.; Garcia, L.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, M.; Goodwin; Guerra; Guillen; Harless; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Holt; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, J.; Kerwin; King; Kitzman; LaHood; Lalani; Lambert; Landgraf; Leach; Leo Wilson; Little; Longoria; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Manuel; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Money; Moody; Morales, E.; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Richardson; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Vasut; Villalobos; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Wu; Zwiener

Nay - Anchia; Bowers; Bryant; Gonzalez, J.; Hinojosa; Meza; Morales, C.; Morales Shaw; Reynolds; Rodriguez Ramos

Present, Not Voting - Burrows; Harris; Raymond

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(S) House passage reported
(S) Reported enrolled
 

May 21, 2025


(S) Signed in the Senate
(H) Signed in the House
(E) Sent to the Governor
 

May 30, 2025


(E) Signed by the Governor
(E) Effective on 9/1/25
 


(S) Lambert signed onto the bill as Sponsor

Lobbying Against/For/On This Bill

For

(Tue 3/25/2025) Testifying before S Business & Commerce as Benjamin Heller for HBK Capital Management



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