Sec. 51.151. DISCLOSURE TO PURCHASER OF BUSINESS OPPORTUNITY. (a) Except as provided by Section 51.164, a seller must provide a purchaser with a written disclosure statement that meets the requirements of this subchapter.
(b) The seller must provide the disclosure statement at least 10 business days before the earlier of the date:
(1) the purchaser signs a business opportunity contract; or
(2) the seller receives any consideration.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
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