§ 78A-17 – Exempt transactions.
78A-17. Exempt transactions. Except as otherwise provided in this Chapter, the following transactions are exempted from G.S. 78A-24 and G.S. 78A-49(d): (1) Any isolated nonissuer transaction, whether effected through a dealer or not. (2) Any nonissuer distribution other than by a controlling person of an outstanding security if a. A recognized securities manual contains the […]
§ 78A-17.1 – Invest NC exemption.
78A-17.1. Invest NC exemption. (a) Exemption. – Except as otherwise provided in this Chapter, an offer or sale of a security by an issuer is exempt from G.S. 78A-24 and G.S. 78A-49(d) if the offer or sale is conducted in accordance with each of the following requirements: (1) The issuer of the security is a […]
§ 78A-18 – Denial and revocation of exemptions.
78A-18. Denial and revocation of exemptions. (a) The Administrator may by order deny or revoke any exemption specified in subdivision (9), (11), or (15) of G.S. 78A-16 or in 78A-17 with respect to a specific security or transaction. No such order may be entered without appropriate prior notice to all interested parties, opportunity for hearing, […]
§ 78A-24 – Registration requirement.
78A-24. Registration requirement. It is unlawful for any person to offer or sell any security in this State unless (i) it is registered under this Chapter, (ii) the security or transaction is exempted under G.S. 78A-16 or 78A-17 and such exemption has not been denied or revoked under G.S. 78A-18, or (iii) it is a […]
§ 78A-25 – Registration by notification.
78A-25. Registration by notification. (a) The following securities may be registered by notification whether or not they are also eligible for registration by coordination under G.S. 78A-26: (1) Any security whose issuer and any predecessors have been in continuous operation for at least five years if a. There has been no default during the current […]
§ 78A-1 – Title.
78A-1. Title. This Chapter shall be known and may be cited as the North Carolina Securities Act. (1925, c. 190, s. 1; 1927, c. 149, s. 1; 1943, c. 104, s. 1; 1973, c. 1380.)
§ 78A-2 – Definitions.
78A-2. Definitions. When used in this Chapter, unless the context otherwise requires: (1) "Administrator" means the Secretary of State. (2) "Dealer" means any person engaged in the business of effecting transactions in securities for the account of others or for his own account. "Dealer" does not include: a. A salesman, b. A bank, savings institution, […]
§ 78A-8 – Sales and purchases.
78A-8. Sales and purchases. It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly: (1) To employ any device, scheme, or artifice to defraud, (2) To make any untrue statement of a material fact or to omit to state a material fact necessary in order […]
§ 78A-9 – Misleading filings.
78A-9. Misleading filings. It is unlawful for any person to make or cause to be made, in any document filed with the Administrator or in any proceeding under this Chapter, any statement which is, at the time and in the light of the circumstances under which it is made false or misleading in any material […]
§ 78A-10 – Unlawful representations concerning registration or exemption.
78A-10. Unlawful representations concerning registration or exemption. (a) Neither (i) the fact that an application for registration under Article 5 or a registration statement under Article 4 has been filed nor (ii) the fact that a person or security is effectively registered constitutes a finding by the Administrator that any document filed under this Chapter […]