reglab/housing_qa huggingface dataset:
MD. Corporations and Associations Code Ann. §  11-505 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-505 - Filing of Registration Statement

    (a)    A registration statement may be filed by the issuer, any other person on whose behalf the offering is to be made, or a registered broker-dealer.    (b)    A registration statement may be filed in the manner and form designated by rule or order of the Commissioner, including filing by electronic transmission.
MD. Corporations and Associations Code Ann. §  11-506 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-506 - Filing Fee

    (a)    Except as provided in § 11–510.1 of this subtitle, a person filing an application to register securities shall pay a fee of 0.1 percent of the maximum aggregate offering price at which the securities are to be offered in this State, but the fee may not be less than $500 or more than $1,500.    (b)    (1)    Except as provided in paragraph (2) of this subsection, a person required to submit a filing in accordance with an exemption granted under this title shall pay a fee of $400 for each filing.        (2)    A person required to submit a filing in accordance with the exemption granted under § 11–601(16) of this title shall pay a fee of $100 for each filing.        (3)    A person required to submit a notice of the offer or sale of federal covered securities under § 11–503.1(c) of this subtitle shall pay:            (i)    A fee of $100 for each filing; and            (ii)    An additional fee of $150 for each filing made after the filing due date.    (c)    The Commissioner shall retain the fee, if:        (1)    An application to register securities is withdrawn before the effective date;        (2)    A notice of the offer or sale of a federal covered security is withdrawn; or        (3)    A preeffective stop order is entered under §§ 11–511 through 11–513 of this subtitle.
MD. Corporations and Associations Code Ann. §  11-507 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-507 - Matters Required to Be Specified in Registration Statement

    (a)    Every registration statement shall specify:        (1)    The amount of securities to be offered in this State;        (2)    The states in which a registration statement or similar document in connection with the offering has been or is to be filed; and        (3)    Any adverse order, judgment, or decree entered in connection with the offering by the regulatory authorities in each state, any court, or the Securities and Exchange Commission.    (b)    Any document filed under this subtitle may be incorporated by reference in the registration statement to the extent that the document is currently accurate.    (c)    The Commissioner by rule or otherwise may permit the omission of any item of information or document from any registration statement.
MD. Corporations and Associations Code Ann. §  11-508 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-508 - Effective Period of Registration Statement; Withdrawal of Registration Statement; Abandonment of Registration Statement

    (a)    A registration statement remains effective for 1 year after its effective date unless the Commissioner by rule or order extends the period of effectiveness. A registration statement is not effective while a stop order is in effect under §§ 11-511 through 11-513 of this subtitle.    (b)    A registration statement may be withdrawn only in the discretion of the Commissioner.    (c)    A registration statement that has not been made effective within 1 year from the date of initial filing may be deemed abandoned by the Commissioner.
MD. Corporations and Associations Code Ann. §  11-509 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-509 - Reports by Person Filing Registration Statement

    As long as a registration statement registered by qualification or notification is effective, the Commissioner by rule or order may require the person who filed the registration statement to file reports, not more often than quarterly, to keep reasonably current the information contained in the registration statement and to disclose the progress of the offering.
MD. Corporations and Associations Code Ann. §  11-510 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-510 - Amendment of Registration Statement to Increase Securities Proposed to Be Offered

    (a)    A registration statement relating to a security registered under § 11-502, § 11-503, or § 11-504 of this subtitle may be amended after its effective date so as to increase the securities specified as proposed to be offered.    (b)    The amendment becomes effective when the Commissioner so orders.    (c)    The person filing the amendment shall pay a filing fee, calculated in the manner specified in § 11-506 of this subtitle, with respect to the additional securities proposed to be offered.
MD. Corporations and Associations Code Ann. §  11-512 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-512 - Summary Postponement or Suspension

    (a)    The Commissioner by order summarily may postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under § 11-511 of this subtitle.    (b)    On the entry of the order, the Commissioner promptly shall notify each person specified in § 11-513 of this subtitle:        (1)    That it has been entered;        (2)    The reasons for its entry; and        (3)    That within 15 days after the receipt of a written request the matter will be set down for hearing.    (c)    (1)    If a hearing is not requested and one is not ordered by the Commissioner, the order will remain in effect until it is modified or vacated by the Commissioner.        (2)    If a hearing is requested or ordered, the Commissioner, after notice of and opportunity for hearing to each person specified in § 11-513 of this subtitle, may modify or vacate the order or extend it until final determination.
MD. Corporations and Associations Code Ann. §  11-513 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-513 - Prerequisites to Stop Order

    A stop order may not be entered under any part of § 11–503.1, § 11–511, or § 11–512 of this subtitle, except § 11–512(a) of this subtitle, without:        (1)    Appropriate prior notice to the applicant or registrant, the issuer, and the person on whose behalf the securities are to be or have been offered;        (2)    Opportunity for hearing; and        (3)    Written findings of fact and conclusions of law.
MD. Corporations and Associations Code Ann. §  11-514 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 5 - Registration of Securities|Section 11-514 - Vacation or Modification of Stop Order

    The Commissioner may vacate or modify a stop order if he finds that the conditions which prompted entry have changed or that it is otherwise in the public interest to do so.
MD. Corporations and Associations Code Ann. §  11-603 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 6 - Exemptions|Section 11-603 - Denial or Revocation of Exemption

    (a)    (1)    The Commissioner by order may deny or revoke any exemption specified in § 11–601(9), (11), or (17) or § 11–602 of this subtitle with respect to a specific security or transaction.        (2)    The order may not be entered without appropriate prior notice to all interested parties, opportunity for hearing, and written findings of fact and conclusions of law, except that the Commissioner by order summarily may deny or revoke any of the specified exemptions pending final determination of any proceeding under this subsection.    (b)    On the entry of a summary order, the Commissioner promptly shall notify every interested party:        (1)    That it has been entered;        (2)    The reasons for its entry; and        (3)    That within 15 days of the receipt of a written request the matter will be set down for hearing.    (c)    (1)    If a hearing is not requested and one is not ordered by the Commissioner, the order will remain in effect until it is modified or vacated by the Commissioner.        (2)    If a hearing is requested or ordered, the Commissioner, after notice of and opportunity for hearing to every interested person, may modify or vacate the order or extend it until final determination.        (3)    An order under this section may not operate retroactively.        (4)    A person may not be considered to have violated § 11–205 or § 11–501 of this title by reason of any offer or sale effected after the entry of an order under this section if he sustains the burden of proof that he did not know, and in the exercise of reasonable care could not have known, of the order.
MD. Corporations and Associations Code Ann. §  11-604 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 6 - Exemptions|Section 11-604 - Burden of Proof

    (a)    In a civil or administrative proceeding under this title, a person claiming an exemption or an exception from a definition has the burden of proving the exemption or exception.    (b)    In a criminal proceeding under this title, the burden of going forward with evidence of a claim or exemption or exception from a definition is on the person claiming it.
MD. Corporations and Associations Code Ann. §  11-701 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 7 - Enforcement and Penalties|Section 11-701 - Investigations and Subpoenas

    (a)    In his discretion, the Commissioner may:        (1)    Make public or private investigations within or outside of this State as he considers necessary to:            (i)    Determine whether any person has violated or is about to violate any provision of this title or any rule or order under this title; or            (ii)    Aid in the enforcement of this title or in the prescribing of rules and forms under this title;        (2)    Require or permit any person to file a statement in writing, under oath or otherwise as the Commissioner determines, as to all the facts and circumstances concerning the matter to be investigated; and        (3)    Publish information concerning any violation of this title or any rule or order under this title.    (b)    For the purpose of any investigation or proceeding under this title, the Commissioner or any officer designated by him may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the Commissioner considers relevant or material to the inquiry.    (c)    (1)    In case of contumacy by or refusal to obey a subpoena issued to any person, the circuit court of the county in which the person resides or transacts business, on application by the Commissioner, may issue to the person an order requiring him to appear before the Commissioner or the officer designated by him to produce documentary evidence if so ordered or to give evidence touching the matter under investigation or in question.        (2)    Failure to obey the order of the court may be punished by the court as a contempt of court.    (d)    A person is not excused from attending and testifying or from producing any document or record before the Commissioner, or in obedience to the subpoena of the Commissioner or any officer designated by him, or in any proceeding instituted by the Commissioner, on the ground that the testimony or evidence, documentary or otherwise, required of him may tend to incriminate him or subject him to a penalty or forfeiture. However, an individual may not be prosecuted or subjected to any penalty or forfeiture for or on account of any specific subject concerning which he is compelled, after claiming his privilege against self-incrimination as to that specific subject, to testify or produce evidence, documentary or otherwise, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.
MD. Corporations and Associations Code Ann. §  11-701.1 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 7 - Enforcement and Penalties|Section 11-701.1 - Actions to Be Taken by Commissioner

    (a)    Whenever the Commissioner determines that a person has engaged or is about to engage in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance, is knowingly or recklessly providing substantial assistance, or is about to knowingly or recklessly provide substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, and that immediate action against such person is in the public interest, the Commissioner may in his discretion issue, without a prior hearing, a summary order directing such person to cease and desist from engaging in such activity, provided that the summary cease and desist order gives the person:        (1)    Notice of the opportunity for a hearing before the Commissioner to determine whether the summary cease and desist order should be vacated, modified, or entered as final; and        (2)    Notice that the summary cease and desist order will be entered as final if such person does not request a hearing within 15 days of receipt of the summary cease and desist order.    (b)    Whenever the Commissioner determines after notice and a hearing (unless the right to notice and a hearing is waived) that a person has engaged in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, the Commissioner may in his discretion and in addition to taking any other action authorized under this title:        (1)    Issue a final cease and desist order against such person;        (2)    Censure such person if such person is registered under this title;        (3)    Bar such person from engaging in the securities business or investment advisory business in this State;        (4)    Issue a penalty order against such person imposing a civil penalty up to the maximum amount of $5,000 for any single violation of this title; or        (5)    Take any combination of the actions specified in this subsection.
MD. Corporations and Associations Code Ann. §  11-702 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 7 - Enforcement and Penalties|Section 11-702 - Remedies

    (a)    Whenever it appears to the Commissioner that any person is about to engage in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that the person is about to knowingly or recklessly provide substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, he may in his discretion bring an action to obtain 1 or more of the following remedies:        (1)    A temporary restraining order; or        (2)    A temporary or permanent injunction.    (b)    Whenever it appears to the Commissioner that any person has engaged in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance, is knowingly or recklessly providing substantial assistance, or is about to knowingly or recklessly provide substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, the Commissioner may in the Commissioner’s discretion bring an action to obtain one or more of the following remedies:        (1)    A temporary restraining order;        (2)    A temporary or permanent injunction;        (3)    A civil penalty up to a maximum amount of $5,000 for any single violation of this title;        (4)    A declaratory judgment;        (5)    The appointment of a receiver or conservator for the defendant or the defendant’s assets;        (6)    A freeze of the defendant’s assets;        (7)    Rescission;        (8)    Restitution;        (9)    Disgorgement;        (10)    Payment of prejudgment and postjudgment interest; and        (11)    Any other relief as the court deems just.    (c)    An action under this section is not subject to the provisions of § 5–107 of the Courts and Judicial Proceedings Article.    (d)    The Commissioner may not be required to post a bond in any action under this section.
MD. Corporations and Associations Code Ann. §  11-704 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 7 - Enforcement and Penalties|Section 11-704 - Judicial Review of Orders

    (a)    Any person aggrieved by a final order of the Commissioner may obtain a review of the order in conformity with the procedure prescribed in the Maryland Rules and in the Administrative Procedure Act.    (b)    The commencement of proceedings under subsection (a) of this section, unless specifically ordered by the court, does not operate as a stay of the Commissioner’s order.
MD. Corporations and Associations Code Ann. §  11-705 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 7 - Enforcement and Penalties|Section 11-705 - Penalties

    (a)    (1)    Any person who willfully violates any provision of this title, except § 11–303 or § 11–305 of this title or who willfully violates any rule or order under this title except a rule or order under § 11–305 of this title, or who willfully violates § 11–303 of this title knowing the statement made to be false or misleading in any material respect, on conviction is subject to a fine not exceeding $50,000 or imprisonment not exceeding 3 years or both.        (2)    Any person who willfully violates § 11–305 of this title or who willfully violates a rule or order under § 11–305 of this title, on conviction is subject to a fine not exceeding $100,000 or imprisonment not exceeding 5 years or both.        (3)    A person may not be imprisoned for the violation of any rule or order if the person proves that the person had no knowledge of the rule or order.        (4)    An indictment or information may not be returned under this title more than 5 years after the alleged violation.    (b)    The Commissioner may refer available evidence concerning violations of this title or of any rule or order under this title to the State’s Attorney or the Attorney General who, with or without the reference, may institute the appropriate criminal proceedings under this title.    (c)    Nothing in this title limits the power of this State to punish any person for any conduct which constitutes a crime by statute or at common law.
MD. Corporations and Associations Code Ann. §  11-804 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 8 - Miscellaneous Provisions|Section 11-804 - Uniformity of Interpretation

    This title shall be construed to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of this title with the related federal regulation.
MD. Corporations and Associations Code Ann. §  11-805 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 11 - Maryland Securities Act|Subtitle 8 - Miscellaneous Provisions|Section 11-805 - Short Title

    This title may be cited as the Maryland Securities Act.
MD. Corporations and Associations Code Ann. §  12-101 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 12 - Statutory Trusts|Subtitle 1 - Definitions; General Provisions|Section 12-101 - Definitions

    (a)    In this title the following words have the meanings indicated.    (b)    “Beneficial owner” means any owner of record of a beneficial interest in a statutory trust, the fact of ownership to be determined and evidenced, whether by means of registration, the issuance of certificates or otherwise, in conformity to the applicable provisions of the governing instrument of the statutory trust.    (c)    “Foreign business entity” means:        (1)    A foreign statutory trust; or        (2)    A corporation, general or limited partnership, common–law trust, limited liability company, real estate investment trust, or any other unincorporated business formed, organized, or existing under the laws of another state, the United States, a foreign country, or other foreign jurisdiction.    (d)    “Foreign statutory trust” means a trust that is:        (1)    Formed under the laws of another state, the United States, a foreign country, or other foreign jurisdiction; and        (2)    Required by the laws of the jurisdiction in which it is formed to file a record with a public official in that jurisdiction.    (e)    “Governing instrument” means a declaration of trust or other trust instrument which provides for the governance of the affairs of a statutory trust and the conduct of its business.    (f)    (1)    “Other business entity” means a corporation, a general or limited partnership, a common–law trust, a limited liability company, a real estate investment trust, or any other unincorporated business.        (2)    “Other business entity” does not include a statutory trust.    (g)    “Person” means a natural person, partnership, limited partnership, limited liability company, trust, estate, association, corporation, custodian, nominee, or any other individual or entity in its own or any representative capacity.    (h)    (1)    “Statutory trust” means an unincorporated business, trust, or association that is:            (i)    Formed by filing an initial certificate of trust under § 12–204 of this title; and            (ii)    Governed by a governing instrument.        (2)    “Statutory trust” includes a trust formed under this title on or before May 31, 2010, as a business trust, as the term business trust was then defined in this title.    (i)    (1)    “Trustee” means the person appointed as a trustee in accordance with the governing instrument of a statutory trust.        (2)    “Trustee” may include a beneficial owner of a statutory trust.
MD. Corporations and Associations Code Ann. §  12-101.1 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 12 - Statutory Trusts|Subtitle 1 - Definitions; General Provisions|Section 12-101.1 - Presumption of Business Trust

    The use of the designation “business trust” or a statement in a certificate of trust or governing instrument executed on or before May 31, 2010, to the effect that a trust is or will qualify as a Maryland business trust within the meaning of or in accordance with this title may not create a presumption or an inference that the trust is a business trust for purposes of Title 11 of the United States Code.