1201.029 – COMMISSIONS NOT TO BE PAID FROM PRINCIPAL. In a
Texas Government Code § 1201.029
Summary
This law clarifies that commissions from the resale of public securities cannot be deducted from the principal amount when determining compliance with legal limits. It affects issuers and purchasers of public securities in Texas, ensuring that the principal remains intact for compliance purposes.
Prohibits paying commissions from the principal of public securities.
Ensures compliance with legal limits on principal amounts.
Affects both public and private sales of public securities.
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In simple terms: Learn about Texas's COMMISSIONS NOT TO BE PAID FROM PRINCIPAL. In a law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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