Section 409.5-510 – Rescission offers.
Effective – 01 Sep 2003 409.5-510. Rescission offers. — A purchaser, seller, or recipient of investment advice may not maintain an action under section 409.5-509 if: (1) The purchaser, seller, or recipient of investment advice receives in a record, before the action is instituted: (A) An offer stating the respect in which liability under section […]
Section 409.6-601 – Administration.
Effective – 01 Sep 2003 409.6-601. Administration. — (a) This act shall be administered by the commissioner of securities who shall be appointed by and act under the direction of the secretary of state, and shall receive compensation as provided by law. (b) The attorney general shall appear on behalf of and represent the commissioner […]
Section 409.4-408 – Termination of employment or association of agent and investment adviser representative and transfer of employment or association.
Effective – 01 Sep 2003 409.4-408. Termination of employment or association of agent and investment adviser representative and transfer of employment or association. — (a) If an agent registered under this act terminates employment by or association with a broker-dealer or issuer, or if an investment adviser representative registered under this act terminates employment by […]
Section 409.4-409 – Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative.
Effective – 01 Sep 2003 409.4-409. Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative. — Withdrawal of registration by a broker-dealer, agent, investment adviser, or investment adviser representative becomes effective sixty days after the filing of the application to withdraw or within any shorter period as provided by rule adopted or […]
Section 409.4-410 – Filing fees.
Effective – 01 Sep 2003 409.4-410. Filing fees. — (a) A person shall pay a fee of two hundred dollars when initially filing an application for registration as a broker-dealer and a fee of one hundred dollars when filing a renewal of registration as a broker-dealer. If the filing results in a denial or withdrawal, […]
Section 409.4-411 – Postregistration requirements.
Effective – 01 Sep 2003 409.4-411. Postregistration requirements. — (a) Subject to Section 15(h) of the Securities Exchange Act of 1934 (15 U.S.C. Section 78o(h)) or Section 222 of the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-22), a rule adopted or order issued under this act may establish minimum financial requirements for broker-dealers […]
Section 409.4-412 – Denial, revocation, suspension, withdrawal, restriction, condition, or limitation of registration.
Effective – 28 Aug 2020, 2 histories 409.4-412. Denial, revocation, suspension, withdrawal, restriction, condition, or limitation of registration. — (a) If the commissioner finds that the order is in the public interest and subsection (d) authorizes the action, an order issued under this act may deny an application, or may condition or limit registration: (1) […]
Section 409.5-501 – General fraud.
Effective – 01 Sep 2003 409.5-501. General fraud. — It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly: (1) To employ a device, scheme, or artifice to defraud; (2) To make an untrue statement of a material fact or to omit to state a […]
Section 409.5-502 – Prohibited conduct in providing investment advice.
Effective – 01 Sep 2003 409.5-502. Prohibited conduct in providing investment advice. — (a) It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and […]
Section 409.5-503 – Evidentiary burden.
Effective – 01 Sep 2003 409.5-503. Evidentiary burden. — (a) In a civil action or administrative proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim. (b) In a criminal proceeding under this act, a person claiming an exception or exclusion from […]