§ 10-5-80. Consent to Service of Process
A consent to service of process complying with this Code section and required by this chapter must be signed and filed in the form required by a rule or order under this chapter. A consent appointing the Commissioner the person’s agent for service of process in a noncriminal action or proceeding against the person or […]
§ 10-5-90. Predecessor Act Governs Actions Pending and Registrations, Orders, and Rules in Effect on July 1, 2009
The predecessor Act exclusively governs all actions or proceedings that are pending on July 1, 2009, or may be instituted on the basis of conduct occurring before July 1, 2009, but a civil action may not be maintained to enforce any liability under the predecessor Act unless instituted within any period of limitation that applied […]
§ 10-5-54. Unlawful to Make False or Misleading Statements
It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed under this chapter, a statement that, at the time and in the light of the circumstances under which it is made, is false or misleading in a material respect, […]
§ 10-5-55. Filing Under This Chapter Does Not Constitute a Finding by Commissioner That Records Are Accurate or Upon the Merits or Qualifications of Any Person
The filing of an application for registration, a registration statement, a notice filing under this chapter, the registration of a person, the notice filing by a person, or the registration of a security under this chapter does not constitute a finding by the Commissioner that a record filed under this chapter is true, complete, and […]
§ 10-5-56. Liability for Defamation Related to Information Contained in Record
A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the Commissioner, or a designee of the Commissioner, the Securities and […]
§ 10-5-57. Penalties for Violations
A person that willfully violates this chapter, or a rule adopted or order issued under this chapter, except Code Section 10-5-53 or the notice filing requirements of Code Section 10-5-21 or 10-5-34, or that willfully violates Code Section 10-5-54 knowing the statement made to be false or misleading in a material respect, upon conviction, shall […]
§ 10-5-58. Enforcement of Civil Liability; Damages
Enforcement of civil liability under this Code section is subject to the Securities Litigation Uniform Standards Act of 1998, 112 Stat. 3227. A person is liable to the purchaser if the person sells a security in violation of Code Section 10-5-20, or, by means of an untrue statement of a material fact or an omission […]
§ 10-5-59. Exemptions to Liability
A purchaser, seller, or recipient of investment advice may not maintain an action under Code Section 10-5-58 if: The purchaser, seller, or recipient of investment advice receives in a record, before the action is instituted: An offer stating the respect in which liability under Code Section 10-5-58 may have arisen and fairly advising the purchaser, […]
§ 10-5-70. Administration of Chapter; Commissioner of Securities; Authority
The administration of this chapter shall be vested in the Secretary of State, who is designated as the Commissioner of Securities. The Commissioner shall have the authority to administer oaths in and to prescribe forms for all matters arising under this chapter. The Commissioner shall cooperate with the administrators of the securities laws of other […]
§ 10-5-71. Powers of Commissioner
The Commissioner may: Conduct public or private investigations inside or outside this state which the Commissioner considers necessary or appropriate to determine whether a person has violated, is violating, or is about to violate this chapter or a rule adopted or order issued under this chapter or to aid in the enforcement of this chapter […]