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Texas Securities Law Questions & Answers
1 Answer | Asked in Securities Law and Estate Planning for Texas on
Q: Can the executive of a will over ride the Beneficiary for investments

I am the Beneficiary for the investments my ex-wife made she passed away in2019 her executive of the will told me that she gave everything to her Granddaughter I asked for the paperwork and he told me that I was trying to dig up dirt on my ex-wife. Can he override the Beneficiary for investments

Paul Premack
Paul Premack answered on Feb 28, 2022

Your divorce eliminated your name as beneficiary on investments. Investments like a mutual fund or stock are allowed to have a "pay on death" or a "transfer on death" designation. Sometimes the accounts will be in both names, with a "right of survivorship". The goal of... Read more »

1 Answer | Asked in Contracts and Securities Law for Texas on
Q: I have recently purchased a vehicle and finance company sends loan information to my employer

Purchased a vehicle yesterday, submitted proof of income (check stubs) as well as contact information to my corporate office to verify employment. Finance company contacts me to say no one was answering the phone at corporate, so I gave her an email address to send the verification. With the... Read more »

Teri A. Walter
Teri A. Walter answered on Oct 15, 2021

While I agree that they sent more information than was probably necessary, you don't have any apparent damages as a result of this action, and no claim arises from the facts you describe.

1 Answer | Asked in Securities Law for Texas on
Q: Can non-accredited investor, invest in a private fund registered under Rule 506(c) offering by forming an LLC?

SEC rule 506(c) mandates only accredited investors are eligible to contribute to the funds. So can non-accredited investor form an LLC to obtain accredited status? If yes, what are the terms and conditions that one should be aware off?

Robert W. Pearce
Robert W. Pearce answered on Apr 18, 2021

Either you are accredited or not! The issuer is not going to risk losing a safe-harbor exemption for registration to take on an unaccredited investor. And they it tells you otherwise, watch out!!

1 Answer | Asked in Securities Law for Texas on
Q: Is Puerto Rico outside the United States? An annuity investment I have will not pay if I am "outside the United States
Teri A. Walter
Teri A. Walter answered on Mar 1, 2021

Contrary to popular belief, Puerto Rico IS part of the US, even though it's not a state. It's a US territory, and you don't even need a passport to travel to and from there from any other part of the country.

2 Answers | Asked in Stockbroker Fraud and Securities Law for Texas on
Q: Can a broker (Charles Schwab) randomly closed my broker account.

I have my 401K and a 529 account with Charles Schwab. I opened a new acct on the 25th of Sept to attempt to trade. On the 6th they blocked my account for "fraudulent" reasons and the investigative team we supposed to call back within 48 hrs to discuss the matter. After several calls for... Read more »

Robert W. Pearce
Robert W. Pearce answered on Oct 12, 2020

You need to put them on Notice in writing of your objection to the freeze, remind them you have open positions and your intention to sue them for any and all damages unless they take your orders and unfreeze the account or hire an attorney to do that immediately.

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1 Answer | Asked in Securities Law and Stockbroker Fraud for Texas on
Q: When Transfer my IRA plan to my new employer retirement, about 30 thousand dollars were missing . I need legal advice
Ross B. Intelisano
Ross B. Intelisano answered on May 1, 2020

That's terrible. I recommend that you find an attorney in Texas to help you. There is an organization called PIABA made up of lawyers who represent investors. Here is the website. You can search for a local lawyer on the website. Good luck.

1 Answer | Asked in Business Formation, Business Law and Securities Law for Texas on
Q: How do I obtain a copy of my public record in Walker County Texas; Doc no. 00025169 vol no 01248 page no. 00354?

I need to refile this in the Texas Secretary of State.... I need Instructions how to transfer this into the UCC Financial Filing Dept.

Tri Minh Nguyen
Tri Minh Nguyen answered on Apr 29, 2020

The recording information looks like it's a real property recording. You can pull the information here:

Good luck.

1 Answer | Asked in Contracts, Appeals / Appellate Law, Civil Rights and Securities Law for Texas on
Q: I own and paid for property that was sold under the previous owners name. Buyer wants to evict.What Proof is needed byme
Tim Akpinar
Tim Akpinar answered on Sep 27, 2019

Your question remains open for three weeks, and at this point, if you haven't already, consult with a Texas attorney. This sounds more like a real property matter than one about securities or civil rights. At any rate, the category is not really important at this point. It appears to be... Read more »

1 Answer | Asked in Real Estate Law, Civil Litigation, Securities Law and White Collar Crime for Texas on
Q: Does an Agreed Order end all disputes between two parties, meaning they cannot rehash it out at another time?

My attorney and my lenders attorney signed an agreed order revoking a substitute trustee sale snd ejoining them from non judicial foreclosure on a certain date. A year after they sell my house. Should the Agreed Order stopped them? Will that fact affect it now because it was supposed to resolve... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 27, 2019

Before you attempt to assert my answer as being 100% correct, I need to advise you either to read the entire "Agreed Order" and figure it out yourself, or ask your current lawyer, or hire a different Texas lawyer to explain what appears to have happened in your old foreclosure case.... Read more »

1 Answer | Asked in Criminal Law and Securities Law for Texas on
Q: Is it illegal to hack into someone's Twitter account without the owner knowing ? And if so what are the penalties

Had someone hack my twitter account and I have proof of them even saying they did . Just wanna know if it's illegal and what are the consequences in the state of Texas

Roy Lee Warren
Roy Lee Warren answered on Jul 17, 2017

Yes it is illegal, see the Texas Penal Code Chapter 7, Section 33. The penalties for computer crimes are of a wide variety depending on the nature and seriousness of the crime committed. For the breach of computer security (i.e. gaining access to a computer without the consent of the owner), the... Read more »

2 Answers | Asked in Immigration Law, Juvenile Law and Securities Law for Texas on
Q: Can a person in the process of getting their greencard travel within the states?

My family and I are planning to take a roadtrip to California and are planning on taking a friend with us who is in the process of getting his green card. He has a receipt from paying for his application. Is it okay to cross checkpoints going from state to state? Is he allowed to travel within the... Read more »

Roger Carl Algase
Roger Carl Algase answered on Jun 28, 2017

Under what section of the law is this student entitled to get a green card? Your question does not show that he is eligible for one at all. Even if he is, merely filing for a green card does not confer any legal status in the United States unless the applicant is in this country with some other... Read more »

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1 Answer | Asked in Banking, Energy, Oil and Gas, Probate and Securities Law for Texas on
Q: How much is a declaration? Of heir in texas and is it able to be deducted from a settlement with the comptroller?

Its my second cousin. Had no kids. My dads cousin. Mu aunt took carebif this many years ago after his suicide and failed to find a number of open accounts and what not. Ive not had comyavt with her in at k1east 3 yrs or more and havent spokennto my cousins, her kids in even longer. I always stayed... Read more »

Tammy Lyn Wincott
Tammy Lyn Wincott answered on Oct 11, 2017

I suggest you have an in-person consultation with an attorney. It's a time-consuming job to review all the appropriate facts and advise you accordingly; therefore, you will probably be charged for the consultation.

1 Answer | Asked in Real Estate Law, Securities Law, Sexual Harassment and Small Claims for Texas on
Q: Can a contract be enforced if the seller states he was under the influence?

Yesterday I got the news that the seller has agreed and signed on my offer to purchase a condo. Then today I get a call that he was under the influence of pain medication from yesterday morning's doctor's visit and that he does not remember agreeing to the contract. Can this contract... Read more »

Anton Pal Montano
Anton Pal Montano answered on Apr 7, 2016

It is difficult to give an accurate answer to this question without knowing all the details of your case. Generally, for example, a person may argue that a contract is voidable because he did not have the capacity or legal ability to enter the contract due to being under the influence of drugs or... Read more »

1 Answer | Asked in Securities Law for Texas on
Q: Is my birth certificate a bond that's worth money
Adam Studnicki
Adam Studnicki answered on Aug 10, 2015

Not sure what you mean. Check with a local securities lawyer.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific...
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2 Answers | Asked in Securities Law for Texas on
Q: Can I advertise my hedge fund?

I and three of my partners are registering as Investment Advisors, exam scheduled soon and want to know - can we register "lots' of hedge funds to get around the max 35 non-accredited investors rule? Are we allowed to advertise the hedge fund via email, online etc..? Do we have to... Read more »

Adam Studnicki
Adam Studnicki answered on Aug 11, 2015

If you're going to be running a hedge fund, you should be consulting with a qualified securities lawyer about not just this question but in general making sure you are in compliance with applicable laws.

Please Take Notice: I am not your lawyer unless we enter into an engagement...
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1 Answer | Asked in Securities Law for Texas on
Q: How do I compel discovery in a shareholder's derivative suit
Zaven Andranik Sargsian
Zaven Andranik Sargsian answered on Dec 18, 2013

To the extent that the lawsuit is underway (in this shareholder derivative suit), you would need to look to the rules of civil procedure that your specific court follows. Although procedural rules can vary depending on what court you're in, they generally have similar provisions. Most, if... Read more »

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