§ 23-19-2-4 — Denial, suspension, revocation, condition, or limitation of exemptions; knowledge of order

Indiana § 23-19-2-4

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 19: INDIANA UNIFORM SECURITIES ACT
• Ch. 2: Exemptions From Registration of Securities

Text

(a) Except with respect to a federal covered
security or a transaction involving a federal covered security, an order
under this article may deny, suspend application of, condition, limit, or
revoke an exemption created under section 1(3)(C), (1)(7), 1(8), or 2
of this chapter or an exemption or waiver created under section 3 of
this chapter with respect to a specific security, transaction, or offer. An
order under this section may be issued only under the procedures in IC 23-19-3-6(d) or IC 23-19-6-4 and only prospectively.
(b) A person does not violate IC 23-19-3-1, IC 23-19-3-3 through IC 23-19-3-6, IC 23-19-5-4, or IC 23-19-5-10 by an offer to sell, offer to
purchase, sale, or purchase effected after the entry of an order issued
under this section if the person did not know, and in the exercise of
reasonable care could not have known, of the order.

Legislative History

As added by P.L.27-2007, SEC.23.