75-76-53 - Powers of commission relative to sale of securities of licensees.
§ 75-76-53. Powers of commission relative to sale of securities of licensees.
(1) The commission may:
(a) Adopt regulations governing the sale or offering for sale of securities, by public or other offerings, or any affiliated company of a corporate licensee.
(b) Pursue any remedy or combination of remedies provided in this chapter for a violation of any regulation adopted pursuant to this section, but any such violation does not affect the validity of the securities issued.
(2) As used in this section, unless the context otherwise requires, "sale" means every contract of sale, contract to sell, disposition or transfer, whether or not for value. The term includes any exchange and any material change in the rights, preferences, privileges or restrictions of or on outstanding securities.
Sources: Laws, 1990 Ex Sess, ch. 45, § 27, eff from and after passage (approved June 29, 1990).