Term
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Definition
| The power to interpret or apply the law or the territorial range of authority or control. |
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Term
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Definition
| Any contract of sale, contract to sell, or disposition of a security or interest in a security for value. |
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Term
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Definition
| Includes every attempt to dispose of, and every solicitation to buy, a security or interests in a security for value. |
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Term
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Definition
| Considered to involve both an offer and sale under the USA; ex. gifting a security. Nonpublically traded common stock. |
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Term
| Reasons Administrators may deny, suspend, or revoke a registration: |
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Definition
1. Incomplete application or with false or misleading information.
2. Failed to comply with the provisions of the USA.
3. Convicted within the past 10 years
4. Permanent or temporarily prohibited by court action from engaging in securities business.
5. Due to an order of a state Administrator denying, suspending, or revoking registration.
6. They have been found to have violated federal or stte laws w/in past 10 years.
7. Has engaged in dishonest or unethical practices.
8. Registrant is insolvent (in debt)
9. Not qualified on basis of training, experience, knowledge
10. Has failed to supervise employees to insure compliance.
11. Has failed to pay the proper filing fee. |
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Term
| The Administrator has jurisdiction over any offer to buy or sell a security and acceptance of an offer if the offer: |
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Definition
- originated in the Administrator's state
- was directed (sent) to the Administrator's state
- was accepted in the Adminstrator's state |
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Term
| Reasons for membership cancellations: |
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Definition
- deceased
- ceased to do business
- mentally incompetent
- cannot be located |
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