Section 47-31B-101 – Short title.
47-31B-101. Short title. This chapter may be cited as the Uniform Securities Act of 2002. Source: SL 2004, ch 278, §1.
Section 47-31B-102 – Definitions.
47-31B-102. Definitions. In this chapter, unless the context otherwise requires: (1)”Director,” the director of insurance; (2)”Agent,” an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer’s securities. But […]
Section 47-31B-103 – References to federal statutes.
47-31B-103.References to federal statutes. Securities Act of 1933 (15 U.S.C. §77a et seq.), Securities Exchange Act of 1934 (15 U.S.C. §78a et seq.), Public Utility Holding Company Act of 1935 (15 U.S.C. §79 et seq.), Investment Company Act of 1940 (15 U.S. C. §80a-1 et seq.), Investment Advisers Act of 1940 (15 U.S.C. §80b-1 et […]
Section 47-31B-104 – References to federal agencies.
47-31B-104. References to federal agencies. A reference in this chapter to an agency or department of the United States is also a reference to a successor agency or department. Source: SL 2004, ch 278, §4.
Section 47-31B-105 – Electronic records and signatures.
47-31B-105.Electronic records and signatures. This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, but does not modify, limit, or supersede Section 101(c) of that act (15 U.S.C. §7001(c)) or authorize electronic delivery of any of the notices described in Section 103(b) of that act (15 U.S.C. §7003(b)). This […]
Section 47-31B-201 – Exempt securities.
47-31B-201. Exempt securities. The following securities are exempt from the requirements of §§47-31B-301 through 47-31B-306 and 47-31B-504: (1)A security, including a revenue obligation or a separate security as defined in Rule 131 (17 C.F.R. 230.131) adopted under the Securities Act of 1933, issued, insured, or guaranteed by the United States; by a state; by a […]
Section 47-31B-202 – Exempt transactions.
47-31B-202. Exempt transactions. The following transactions are exempt from the requirements of §§47-31B-301 through 47-31B-306 and 47-31B-504: (1)An isolated nonissuer transaction, whether effected by or through a broker-dealer or not; (2)A nonissuer transaction by or through a broker-dealer registered, or exempt from registration under this chapter, and a resale transaction by a sponsor of a […]
Section 47-31B-203 – Additional exemptions and waivers.
47-31B-203. Additional exemptions and waivers. A rule adopted or order issued under this chapter may exempt a security, transaction, or offer; a rule under this chapter may exempt a class of securities, transactions, or offers from any or all of the requirements of §§47-31B-301 through 47-31B-306 and 47-31B-504; and an order under this chapter may […]
Section 47-31B-204 – Denial, suspension, revocation, condition, or limitation of exemptions.
47-31B-204. Denial, suspension, revocation, condition, or limitation of exemptions. (a) Enforcement related powers. Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this chapter may deny, suspend application of, condition, limit, or revoke an exemption created under §47-31B-201(3)(C), (7), or (8) or 47-31B-202 or an […]
Section 47-31B-301 – Securities registration requirement.
47-31B-301. Securities registration requirement. It is unlawful for a person to offer or sell a security in this state unless: (1)The security is a federal covered security; (2)The security, transaction, or offer is exempted from registration under §§47-31B-201 through 47-31B-203; or (3)The security is registered under this chapter. Source: SL 2004, ch 278, §10.
Section 47-31B-302 – Notice filing.
47-31B-302.Notice filing. (a) Required filing of records. With respect to a federal covered security, as defined in Section 18(b)(2) of the Securities Act of 1933 (15 U.S. C. §77r(b)(2)), that is not otherwise exempt under §§47-31B-201 through 47-31B-203, a rule adopted or order issued under this chapter may require the filing of any or all […]
Section 47-31B-303 – Securities registration by coordination.
47-31B-303. Securities registration by coordination. (a) Registration permitted. A security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering may be registered by coordination under this section. (b) Required records. A registration statement and accompanying records under this section must contain or be accompanied […]
Section 47-31B-304 – Securities registration by qualification.
47-31B-304. Securities registration by qualification. (a) Registration permitted. A security may be registered by qualification under this section. (b) Required records. A registration statement under this section must contain the information or records specified in §47-31B-305, a consent to service of process complying with §47-31B-611, and, if required by rule adopted under this chapter, the […]
Section 47-31B-305 – Securities registration filings.
47-31B-305. Securities registration filings. (a) Who may file. A registration statement may be filed by the issuer, a person on whose behalf the offering is to be made, or a broker-dealer registered under this chapter. (b) Filing fee. A person filing a registration statement shall pay a filing fee as follows: On the first five […]
Section 47-31B-306 – Denial, suspension, and revocation of securities registration.
47-31B-306. Denial, suspension, and revocation of securities registration. (a) Stop orders. The director may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, a registration statement if the director finds that the order is in the public interest and that: (1)The registration statement as of its effective date or before […]
Section 47-31B-307 – Waiver and modification.
47-31B-307. Waiver and modification. The director may waive or modify, in whole or in part, any or all of the requirements of §§47-31B-302, 47-31B-303, and 47-31B-304(b) or the requirement of any information or record in a registration statement or in a periodic report filed pursuant to §47-31B-305(h). Source: SL 2004, ch 278, §16.
Section 47-31B-401 – Broker-dealer registration requirement and exemptions.
47-31B-401. Broker-dealer registration requirement and exemptions. (a) Registration requirement. It is unlawful for a person to transact business in this state as a broker-dealer unless the person is registered under this chapter as a broker-dealer or is exempt from registration as a broker-dealer under subsection (b) or (d). (b) Exemptions from registration. The following persons […]
Section 47-31B-402 – Agent registration requirement and exemptions.
47-31B-402. Agent registration requirement and exemptions. (a) Registration requirement. It is unlawful for an individual to transact business in this state as an agent unless the individual is registered under this chapter as an agent or is exempt from registration as an agent under subsection (b). (b) Exemptions from registration. The following individuals are exempt […]
Section 47-31B-403 – Investment adviser registration and exemptions.
47-31B-403. Investment adviser registration and exemptions. (a) Registration requirement. It is unlawful for a person to transact business in this state as an investment adviser unless the person is registered under this chapter as an investment adviser or is exempt from registration as an investment adviser under subsection (b). (b) Exemptions from registration. The following […]
Section 47-31B-404 – Investment adviser representative registration requirement and exemptions.
47-31B-404. Investment adviser representative registration requirement and exemptions. (a) Registration requirement. It is unlawful for an individual to transact business in this state as an investment adviser representative unless the individual is registered under this chapter as an investment adviser representative or is exempt from registration as an investment adviser representative under subsection (b). (b) […]