reglab/housing_qa huggingface dataset:
MT Code § 30-10-216 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 2. Registration|30-10-216. Repealed

  30-10-216. Repealed. Sec. 5, Ch. 318, L. 2015.   History: En. Sec. 1, Ch. 286, L. 2013.
MT Code § 30-10-302 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-302. Misleading filings

  30-10-302. Misleading filings. It is unlawful for any person to knowingly make or cause to be made, in any document filed with the commissioner or in any proceeding under parts 1 through 3 of this chapter, any statement which is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect.   History: En. Sec. 17, Ch. 251, L. 1961; R.C.M. 1947, 15-2017.
MT Code § 30-10-303 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-303. Unlawful representation concerning registration or exemption

  30-10-303. Unlawful representation concerning registration or exemption. (1) The fact that an application for registration under 30-10-201(6), a notice filing under 30-10-211 or 30-10-327, or a registration statement under 30-10-203, 30-10-204, or 30-10-205 has been filed or the fact that a person or security is effectively registered or a complete notice filing has been made does not constitute a finding by the commissioner that any document filed under parts 1 through 3 of this chapter is true, complete, and not misleading.   (2) The fact that an application for registration or a notice filing has been filed or a person or security is effectively registered or a complete notice filing has been made as provided in subsection (1) or the fact that an exemption or exception is available for a person, security, or transaction does not mean that the commissioner has passed in any way upon the merits of, qualifications of, or recommended or given approval to, any person, security, or transaction. It is unlawful to make or cause to be made to any prospective purchaser, customer, or client any representation inconsistent with this section.   History: En. Sec. 18, Ch. 251, L. 1961; R.C.M. 1947, 15-2018; amd. Sec. 6, Ch. 351, L. 1979; amd. Sec. 11, Ch. 533, L. 1997; amd. Sec. 3, Ch. 286, L. 2013; amd. Sec. 3, Ch. 318, L. 2015.
MT Code § 30-10-306 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-306. Criminal liabilities

  30-10-306. Criminal liabilities. (1) A person who willfully violates any provision of parts 1 through 3 of this chapter except 30-10-302, who willfully violates any rule or order under parts 1 through 3 of this chapter, or who willfully violates 30-10-302 knowing the statement made to be false or misleading in any material respect shall upon conviction be fined not more than $5,000 or imprisoned not more than 10 years, or both. However, if the person convicted has been previously convicted of a felony in any way involving securities, imprisonment for not less than 1 year is mandatory.   (2) A person who willfully violates 30-10-301 with knowledge that the violation would affect a vulnerable person shall upon conviction be fined not more than $20,000 or imprisoned not more than 20 years, or both.   (3) An indictment or information may not be returned under parts 1 through 3 of this chapter more than 8 years after the alleged violation. However, the time limitation period may be extended allowing commencement of a prosecution within 1 year after the date the commissioner or other prosecuting officer becomes aware of the violation.   (4) The commissioner may refer evidence that may be available concerning violations of parts 1 through 3 of this chapter or of any rule or order under parts 1 through 3 of this chapter to the attorney general or the proper prosecuting attorney, who may in the prosecutor's discretion, with or without a reference, institute the appropriate criminal proceedings under parts 1 through 3 of this chapter.   (5) Parts 1 through 3 of this chapter do not limit the power of the state to punish any person for any conduct that constitutes a crime.   History: En. Sec. 21, Ch. 251, L. 1961; R.C.M. 1947, 15-2021; amd. Sec. 1, Ch. 394, L. 1981; amd. Sec. 903, Ch. 56, L. 2009; amd. Sec. 3, Ch. 28, L. 2015.
MT Code § 30-10-308 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-308. Judicial review of orders

  30-10-308. Judicial review of orders. Any person aggrieved by a final order of the commissioner is entitled to judicial review as provided in Title 2, chapter 4, part 7.   History: En. Sec. 23, Ch. 251, L. 1961; R.C.M. 1947, 15-2023; amd. Sec. 5, Ch. 227, L. 2011.
MT Code § 30-10-309 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-309. Securities restitution

  30-10-309. Securities restitution. (1) The commissioner may, after conducting a hearing pursuant to 30-10-305, require a person found to have committed a violation of 30-10-301 to make restitution for all financial losses sustained by any person as a result of the violation. The commissioner may further require a person found to have violated 30-10-301 to pay 10% annual interest on the amount of restitution from the date of the violation, reasonable attorney fees, and costs associated with bringing the administrative action.   (2) An amount required to be paid under this section is in addition to all other penalties imposed by law. If a person fails to pay an amount referred to in this section, the amount required to be paid is a lien upon all of the assets and property of the person in this state and may be recovered by suit by the commissioner and remitted to the person ordered to receive restitution.   (3) The commissioner or a person awarded restitution may bring suit in a court of competent jurisdiction to recover the sums awarded, attorney fees, and costs incurred in obtaining a judgment.   (4) Failure of a person to pay any amount ordered under this section constitutes a forfeiture of the right to do business in this state.   History: En. Sec. 4, Ch. 390, L. 1997.
MT Code § 30-10-310 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-310. Reporting requirements

  30-10-310. Reporting requirements. (1) A broker-dealer, investment adviser, investment adviser representative, or other person who has reason to believe fraud has occurred shall report the suspected fraud to the commissioner within 60 days of discovery of the occurrence.   (2) A broker-dealer shall make complete disclosure of all employment-related information required to be reported to the national association of securities dealers pursuant to rules and related explanatory materials of that association.   (3) A broker-dealer, investment adviser, investment adviser representative, or other person is not liable for any civil claim, including counterclaims, third-party claims, or cross-claims, related to reporting or providing information or otherwise cooperating with an investigation of fraud under this chapter unless the complainant shows by clear and convincing evidence that:   (a) the party knew at the time that the statement was made that the statement was false in any material respect; or   (b) the party acted in reckless disregard as to the statement's truth or falsity.   History: En. Sec. 5, Ch. 390, L. 1997; amd. Sec. 1, Ch. 267, L. 1999.
MT Code § 30-10-311 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-311. through 30-10-314 reserved

  30-10-311 through 30-10-314 reserved.
MT Code § 30-10-315 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-315. Requirements for securities fraud actions -- definition

  30-10-315. Requirements for securities fraud actions -- definition. (1) In any private action arising under this part, if the plaintiff alleges that the defendant made an untrue statement or omitted a material fact necessary in order to make the statements made, in light of the circumstances in which they were made, not misleading, the complaint must specify each statement alleged to have been misleading and the reason or reasons why the statement is misleading. If an allegation regarding the statement or omission is made on information and belief, the complaint must state with particularity all facts on which that belief is based.   (2) In any private action arising under this part in which the plaintiff may recover money damages only on proof that the defendant acted with a particular state of mind, the complaint must, with respect to each act or omission alleged to violate this part, state with particularity facts giving rise to a strong inference that the defendant acted with the required state of mind.   (3) In any private action arising under this part, the court shall on the motion of any defendant, dismiss the complaint if the requirements of subsections (1) and (2) are not met.   (4) (a) In any private action arising under this part, all discovery and other proceedings must be stayed during the pendency of any motion to dismiss unless the court finds, upon the motion of any party, that particularized discovery is necessary to preserve evidence or to prevent undue prejudice to that party.   (b) During the pendency of any stay of discovery pursuant to this subsection (4), unless otherwise ordered by the court, any party to the action with actual notice of the allegations contained in the complaint shall treat all documents, data compilations, including electronically recorded or stored data, and tangible objects that are in the custody or control of the party and that are relevant to the allegations as if they were the subject of a continuing request for production of documents from an opposing party under the Montana Rules of Civil Procedure.   (5) A party aggrieved by the willful failure of an opposing party to comply with subsection (4) may apply to the court for an order awarding appropriate sanctions.   (6) In any private action arising under this part, the plaintiff has the burden of proving that the act or omission of the defendant alleged to violate this title caused the loss for which the plaintiff seeks to recover damages.   (7) As used in 30-10-316 through 30-10-323 and this section, "private action arising under this part" means an action against a person referred to in 30-10-319(2).   History: En. Sec. 1, Ch. 468, L. 1997.
MT Code § 30-10-316 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-316. Sanctions

  30-10-316. Sanctions. (1) In any private action arising under this part, upon final adjudication of the action, the court shall include in the record specific findings regarding compliance by each party and each attorney representing any party with each requirement of Rule 11 of the Montana Rules of Civil Procedure as to any complaint, responsive pleading, or dispositive motion.   (2) If the court makes a finding under subsection (1) that a party or attorney violated any requirement of Rule 11 of the Montana Rules of Civil Procedure as to any complaint, responsive pleading, or dispositive motion, the court shall impose sanctions on the party or attorney in accordance with Rule 11. Prior to making a finding that any party or attorney has violated Rule 11, the court shall give the party or attorney notice and an opportunity to respond.   (3) (a) Subject to subsections (3)(b) and (3)(c), for the purposes of subsection (2), the court shall adopt a presumption that the appropriate sanction:   (i) for failure of any responsive pleading or dispositive motion to comply with any requirement of Rule 11 is an award to the opposing party of the reasonable attorney fees and other expenses incurred as a direct result of the violation; and   (ii) for substantial failure of any complaint to comply with any requirement of Rule 11 is an award to the opposing party of the reasonable attorney fees and other expenses incurred in the action.   (b) The presumption described in subsection (3)(a) may be rebutted only upon proof by the party or attorney against whom sanctions are to be imposed that:   (i) the award of attorney fees and other expenses will impose an unreasonable burden on that party or attorney and would be unjust and the failure to make an award would not impose a greater burden on the party in whose favor sanctions are to be imposed; or   (ii) the violation of Rule 11 was de minimis.   (c) If the party or attorney against whom sanctions are to be imposed meets its burden under subsection (3)(b), the court shall award the sanctions that the court considers appropriate pursuant to Rule 11.   History: En. Sec. 2, Ch. 468, L. 1997.
MT Code § 30-10-317 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-317. Defendant's right to written interrogatories

  30-10-317. Defendant's right to written interrogatories. In any private action arising under this part in which the plaintiff may recover money damages, the court shall, when requested by a defendant, submit to the jury a written interrogatory on the issue of each defendant's state of mind at the time the alleged violation occurred.   History: En. Sec. 3, Ch. 468, L. 1997.
MT Code § 30-10-318 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-318. Limitation on damages

  30-10-318. Limitation on damages. (1) The provisions of this section limit any damages otherwise available under this part.   (2) Except as provided in subsection (3), in any private action arising under this part in which the plaintiff seeks to establish damages by reference to the market price of a security that is traded in a national securities market, the award of damages to the plaintiff may not exceed the difference between the purchase or sale price paid or received, as appropriate, by the plaintiff for the subject security and the mean trading price of that security during the 90-day period beginning on the date on which the information correcting the misstatement or omission that is the basis for the action is disseminated to the market.   (3) In any private action arising under this part in which the plaintiff seeks to establish damages by reference to the market price of a security that is traded on a national securities market, if the plaintiff sells or repurchases the subject security prior to the expiration of the 90-day period described in subsection (2), the plaintiff's damages may not exceed the difference between the purchase or sale price paid or received, as appropriate, by the plaintiff for the security and the mean trading price of the security during the period beginning immediately after dissemination of information correcting the misstatement or omission and ending on the date on which the plaintiff sells or repurchases the security.   (4) For purposes of this section, the mean trading price of a security must be an average of the daily trading price of that security, determined as of the close of the market each day during the 90-day period referred to in subsection (2).   History: En. Sec. 4, Ch. 468, L. 1997.
MT Code § 30-10-320 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-320. Prohibition of referral fees

  30-10-320. Prohibition of referral fees. A broker, dealer, or person associated with a broker or dealer, may not solicit or accept, directly or indirectly, remuneration for assisting an attorney in obtaining the representation of any person in any private action under this part or under the Securities Act of 1933, 15 U.S.C. 77a, et seq.   History: En. Sec. 6, Ch. 468, L. 1997.
MT Code § 30-10-321 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-321. Prosecution of persons aiding violations

  30-10-321. Prosecution of persons aiding violations. For purposes of any action brought by the commissioner under 30-10-304, 30-10-305, or 30-10-306, for violations of 30-10-301 through 30-10-303, any person that knowingly provides substantial assistance to another person in violation of a provision of this part or of any rule or regulation issued under this part must be considered to be in violation of that provision to the same extent as the person to whom the assistance is provided.   History: En. Sec. 7, Ch. 468, L. 1997.
MT Code § 30-10-322 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-322. Loss causation

  30-10-322. Loss causation. In any private action arising under this part, if any portion or all of the amount recoverable represents other than the depreciation in value of the subject security resulting from a part of the prospectus or oral communication not being true or omitting to state a material fact required to be stated in the prospectus or oral communication or necessary to make the statement not misleading, then that portion or amount is not recoverable with respect to the liability of that person.   History: En. Sec. 8, Ch. 468, L. 1997.
MT Code § 30-10-323 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-323. Construction

  30-10-323. Construction. Sections 30-10-315 through 30-10-322 may not be considered to create or ratify any implied private right of action or to prevent the commissioner, by rule or regulation, from restricting or otherwise regulating private actions under Montana securities laws.   History: En. Sec. 9, Ch. 468, L. 1997.
MT Code § 30-10-325 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-325. Operating pyramid promotional scheme unlawful

  30-10-325. Operating pyramid promotional scheme unlawful. (1) A person may not conduct or promote or cause to be conducted or promoted a pyramid promotional scheme.   (2) A person who willfully violates the provisions of subsection (1) shall, for each participant giving consideration, be fined an amount not more than $100,000 or be imprisoned for not more than 10 years, or both.   (3) A person who violates the provisions of subsection (1) shall, for each participant giving consideration, be assessed a civil penalty in an administrative proceeding in an amount not to exceed $10,000.   History: En. Sec. 2, Ch. 74, L. 1999; amd. Sec. 2, Ch. 446, L. 2003.
MT Code § 30-10-326 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-326. Repealed

  30-10-326. Repealed. Sec. 6, Ch. 286, L. 2013.   History: En. Sec. 3, Ch. 74, L. 1999; amd. Sec. 2, Ch. 322, L. 2001.
MT Code § 30-10-327 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-327. Multilevel marketing company -- notice of activity -- consent to service

  30-10-327. Multilevel marketing company -- notice of activity -- consent to service. (1) A multilevel marketing company shall file with the commissioner on forms prescribed by the commissioner:   (a) prior to obtaining a participant that is a resident of this state:   (i) a notice that the company intends to operate in this state; and   (ii) an irrevocable consent designating the commissioner as its agent for service of process for any alleged violation of 30-10-325; and   (b) following the initial filing under subsection (1)(a), an annual notice of the company's operations in this state.   (2) The forms in subsection (1) must include, at a minimum:   (a) the names, home or business addresses, dates of birth, and titles of the multilevel marketing company's officers, directors, and trustees;   (b) the multilevel marketing company's corporate name, state of domicile and state of incorporation, and headquarters mailing address, e-mail address, and telephone and telefax numbers; and   (c) a detailed description of the levels of distribution in the multilevel marketing company, the manner of compensating participants, and the compensation structure of the marketing plan.   (3) Compliance with this section does not confer on a multilevel marketing company any license or registration or signify that the state has sanctioned, approved, registered, or endorsed a multilevel marketing company or its sales plan or operation.   (4) A multilevel marketing company or any individual or entity affiliated with a multilevel marketing company may not represent that the multilevel marketing company, individual, or entity is licensed, sanctioned, approved, registered, or endorsed in this state by virtue of compliance with 30-10-325 and this section.   (5) The requirements of subsections (1) and (2) do not apply to a direct selling association member.   History: En. Sec. 1, Ch. 318, L. 2015.
MT Code § 30-10-328 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-328. through 30-10-339 reserved

  30-10-328 through 30-10-339 reserved.
MT Code § 30-10-340 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 10. Securities Regulation|Part 3. Offenses, Penalties, and Immunities|30-10-340. Governmental disclosure -- immunity

  30-10-340. Governmental disclosure -- immunity. (1) If a qualified individual, investment adviser, investment adviser representative, or salesperson reasonably believes that financial exploitation of a vulnerable person may have occurred, may have been attempted, or is being attempted, the qualified individual, investment adviser, investment adviser representative, or salesperson may promptly report the suspected exploitation to the commissioner in the manner outlined in the broker-dealer's or investment adviser's policies and procedures for reporting suspected exploitation. If the policies and procedures do not have a manner outlined, the qualified individual, investment adviser, investment adviser representative, or salesperson may report the suspected exploitation directly to the commissioner.   (2) A qualified individual, investment adviser, investment adviser representative, or salesperson who, in good faith and exercising reasonable care, makes a disclosure of information under this section is immune from administrative or civil liability that might otherwise arise from the disclosure or from any failure to notify the vulnerable person or the person's agent of the disclosure.   History: En. Sec. 1, Ch. 84, L. 2017.