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The Vermont Statutes Online
Title
09
:
Commerce and Trade
Chapter
150
:
SECURITIES ACT
Subchapter
006
:
ADMINISTRATION AND JUDICIAL REVIEW
§
5610. Jurisdiction
(a) Sections
5301 and 5302, subsections 5401(a), 5402(a), 5403(a), and 5404(a) and sections
5501, 5506, 5509, and 5510 of this chapter do not apply to a person that sells
or offers to sell a security unless the offer to sell or the sale is made in
this State or the offer to purchases or the purchase is made and accepted in
this State.
(b) Subsections
5401(a), 5402(a), 5403(a), 5404(a), and sections 5501, 5506, 5509, and 5510 of
this chapter do not apply to a person that purchases or offers to purchase a
security unless the offer to purchase or the purchase is made in this State or
the offer to sell or the sale is made and accepted in this State.
(c) For the
purpose of this section, an offer to sell or to purchase a security is made in
this State, whether or not either party is then present in this State, if the
offer:
(1) originates
from within this State; or
(2) is directed
by the offeror to a place in this State and received at the place to which it
is directed.
(d) For the
purpose of this section, an offer to purchase or to sell is accepted in this
State, whether or not either party is then present in this State, if the
acceptance:
(1) is
communicated to the offeror in this State and the offeree reasonably believes
the offeror to be present in this State and the acceptance is received at the
place in this State to which it is directed; and
(2) has not
previously been communicated to the offeror, orally or in a record, outside
this State.
(e) An offer to
sell or to purchase is not made in this State when a publisher circulates or
there is circulated on the publisher's behalf in this State a bona fide
newspaper or other publication of general, regular, and paid circulation that
is not published in this State, or that is published in this State but has had
more than two-thirds of its circulation outside this State during the previous
12 months or when a radio or television program or other electronic
communication originating outside this State is received in this State. A radio
or television program or other electronic communication is considered as having
originated in this State if either the broadcast studio or the originating
source of transmission is located in this State, unless:
(1) the program
or communication is syndicated and distributed from outside this State for
redistribution to the general public in this State;
(2) the program
or communication is supplied by a radio, television, or other electronic
network with the electronic signal originating from outside this State for redistribution
to the general public in this State;
(3) the program
or communication is an electronic communication that originates outside this
State and is captured for redistribution to the general public in this State by
a community antenna or cable, radio, cable television, or other electronic
system; or
(4) the program
or communication consists of an electronic communication that originates in
this State, but which is not intended for distribution to the general public in
this State.
(f) Subsections
5403(a), 5404(a), and 5405(a) and sections 5502, 5505, and 5506 of this chapter
apply to a person if the person engages in an act, practice, or course of
business instrumental in effecting prohibited or actionable conduct in this
State, whether or not either party is then present in this State.
(g) This section
does not limit the scope of personal jurisdiction to the extent such
jurisdiction may be established pursuant to 12 V.S.A. § 913 (the Vermont
"long arm" statute). (Added 2005, No. 11, § 1, eff. July 1, 2006.)
