Texas HB3929 amends the Business & Commerce Code to clarify choice of law and assignment of claims in securities transactions.

Texas HB3929 amends the Business & Commerce Code to specify that the choice of governing law in securities transactions applies retroactively to all issues. It also clarifies that purchasers of securities acquire all claims and demands of the transferor, regardless of knowledge. Additionally, it prohibits issuers or parties from asserting defenses based on the purchaser's intent to enforce rights. The law takes effect September 1, 2025.

Texas HB3929 amends the Business & Commerce Code to clarify choice of law and assignment of claims in securities transactions.

Texas HB3929 amends the Business & Commerce Code to specify that the choice of governing law in securities transactions applies retroactively to all issues. It also clarifies that purchasers of securities acquire all claims and demands of the transferor, regardless of knowledge. Additionally, it prohibits issuers or parties from asserting defenses based on the purchaser's intent to enforce rights. The law takes effect September 1, 2025.