§5610. Jurisdiction

Link to law: http://legislature.vermont.gov/statutes/section/09/150/05610
Published: 2015

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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.)
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