Stan Lambert, Texas State Representative of the 71st district (R) | https://www.facebook.com/RepStanLambert
Stan Lambert, Texas State Representative of the 71st district (R) | https://www.facebook.com/RepStanLambert
More specifically, the official text was summarized by the state legislature as ’’Relating to choice of law and assignment or acquisition of claims and demands in connection with certificated and uncertificated securities’’.
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
This bill addresses the choice of law and assignment or acquisition of claims and demands related to certificated and uncertificated securities. It updates the Business & Commerce Code by stipulating that if a security is deemed invalid under the issuer's local law, the law agreed upon to govern the security's terms will apply. It specifies that the rights acquired by a purchaser include various claims and demands of the transferor, such as claims for damages or rights enforcement, regardless of prior knowledge of these claims. Additionally, the bill restricts issuers and related parties from defending against obligations based on the purchaser's intent to litigate rights. The choice of governing law in securities can apply retroactively, and securities can be amended retroactively to adopt a new jurisdiction's law, requiring less than unanimous consent. This bill will take effect on Sept. 1, 2025.
Stan Lambert, chair of the House Committee on Pensions, Investments & Financial Services and member of the House Committee on Higher Education, proposed another six bills during the 89(R) legislative session.
Lambert graduated from Abilene Christian University in 1975 with a BS.
Stan Lambert is currently serving in the Texas State House, representing the state's 71st House district. He replaced previous state representative Susan King in 2017.
Bills in Texas go through a multi-step legislative process, including committee review, debates, and votes in both chambers before reaching a final decision. Each session, there are typically thousands of bills introduced, but only a portion successfully navigate the process to become law.
You can read more about the bills and other measures here.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| HB 5412 | 04/07/2025 | Relating to the determination of whether a person is intoxicated for purposes of the Texas Workers' Compensation Act |
| HB 5377 | 04/07/2025 | Relating to the filing of a fraudulent financing statement in relation to certain secured transactions; authorizing the imposition of a fee |
| HB 5007 | 04/03/2025 | Relating to the establishment of the Texas Committee on Foreign Investment to review certain transactions involving certain foreign entities; creating a civil penalty |
| HB 3952 | 03/27/2025 | Relating to the exemption of motor vehicles transferred from a decedent's estate |
| HB 2931 | 03/19/2025 | Relating to an exception to the renewal requirement for agricultural and timber tax exemption registration numbers issued to or held by persons who are at least 65 years of age |
| HB 2199 | 03/14/2025 | Relating to enrollment-based funding for the special education allotment under the Foundation School Program |
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