Section 37-25A-50 – Action on bond.
37-25A-50. Action on bond. Any person who violates §§37-25A-14, 37-25A-43, 37-25A-45, and 37-25A-46, or who breaches any business opportunity contract or agreement or any obligation arising under the contract or agreement, is liable to the purchaser who may sue the surety of the bond, either at law or in equity to recover all money or […]
Section 37-25A-51 – Liability of person aiding or controlling violator.
37-25A-51. Liability of person aiding or controlling violator. Any person who controls or materially aids a person liable under §37-25A-46 or 37-25A-47 shall be liable jointly and severally with and to the same extent as the person committing the violation. Source: SL 1985, ch 305, §51.
Section 37-25A-52 – Limitation of actions to enforce civil liability.
37-25A-52. Limitation of actions to enforce civil liability. No action may be maintained under §§37-25A-47 to 37-25A-49, inclusive, unless commenced before the expiration of three years after the act of transaction constituting the violation. Source: SL 1985, ch 305, §52.
Section 37-25A-53 – Rights and remedies under chapter additional.
37-25A-53. Rights and remedies under chapter additional. The rights and remedies under this chapter are in addition to any other rights or remedies that may exist at law or in equity. Source: SL 1985, ch 305, §53.
Section 37-25A-54 – Waiver of rights void.
37-25A-54. Waiver of rights void. Any condition, stipulation or provision binding any purchaser of a business opportunity to waive compliance with or relieving a person from any duty or liability imposed by or any right provided by this chapter or any rule or order issued pursuant to this chapter is void. Source: SL 1985, ch […]
Section 37-25A-55 – Civil penalty.
37-25A-55. Civil penalty. The director may impose a civil penalty against a person named in an order issued under §37-25A-30 for violation of §§37-25A-7, and 37-25A-43 to 37-25A-46, inclusive. The amount of the civil penalty may not exceed five thousand dollars for each act or omission that constitutes the basis for issuing the order. Any […]
Section 37-25A-42 – Continuances where process served under chapter.
37-25A-42. Continuances where process served under chapter. If process is served under this chapter, the court, or the director of the Division of Insurance in a proceeding before the director, shall order such continuance as necessary to afford the defendant or respondent reasonable opportunity to defend himself. Source: SL 1985, ch 305, §42; SL 2017, […]
Section 37-25A-43 – Fraud, deceit, and misleading statements and omissions prohibited in connection with offer or sale.
37-25A-43. Fraud, deceit, and misleading statements and omissions prohibited in connection with offer or sale. No person, in connection with the offer or sale of any business opportunity in this state, may: (1)Employ any device, scheme, or artifice to defraud; (2)Make any untrue statement of a material fact or to omit to state a material […]
Section 37-25A-44 – False or misleading statements or omissions in proceedings or filings prohibited.
37-25A-44. False or misleading statements or omissions in proceedings or filings prohibited. No person may make or cause to be made, in any document filed with the director of the Division of Insurance or in any proceeding under this chapter, any statement which is, at the time and in the light of the circumstances under […]
Section 37-25A-45 – Filing and registration not constituting finding of truthfulness or approval–Contrary representations prohibited.
37-25A-45. Filing and registration not constituting finding of truthfulness or approval–Contrary representations prohibited. Neither the fact that an application for registration has been filed nor the fact that a business opportunity is effectively registered constitutes a finding by the director of the Division of Insurance that any document filed under this chapter is true, complete […]