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Unless covered by an exemption, securities offerings and sales in the state of Texas must be qualified by the state. Apart from the standard exemption for covered securities, Texas exempts certain offerings based on the offering size, purchasers, and other criteria. This practice note explains the following exemptions from qualification: (1) private limited offering exemption, (2) intrastate offering exemption, (3) oil and gas limited offering exemption, (4) exemption for individual accredited investors, and (5) internet offerings exemption.
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