reglab/housing_qa huggingface dataset:
AK Stat § 45.56.380 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 2. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers.|Sec. 45.56.380. Succession and change in registration of broker-dealer or investment adviser.

(a) A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of an investment adviser or notice filing of another federal covered investment adviser, by filing as a successor an application for registration under AS 45.56.300 or 45.56.340 or a notice under AS 45.56.360 for the unexpired portion of the current registration or notice filing. (b) A broker-dealer or investment adviser that changes its form of organization or state of incorporation or organization may continue its registration by filing an amendment to its registration if the change does not involve a material change in its financial condition or management. The amendment becomes effective when filed or on a date designated by the registrant in its filing. The new organization is a successor to the original registrant for the purposes of this chapter. If there is a material change in financial condition or management, the broker-dealer or investment adviser shall file a new application for registration. A predecessor registered under this chapter shall stop conducting its securities business other than winding down transactions and shall file for withdrawal of broker-dealer or investment adviser registration within 45 days after filing its amendment to effect succession. (c) A broker-dealer or investment adviser that changes its name may continue its registration by filing an amendment to its registration. The amendment becomes effective when filed or on a date designated by the registrant. (d) A change of control of a broker-dealer or investment adviser may be made in accordance with a regulation adopted or order issued under this chapter.
AK Stat § 45.56.400 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 2. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers.|Sec. 45.56.400. Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative.

Withdrawal of registration by a broker-dealer, agent, investment adviser, or investment adviser representative becomes effective 60 days after the filing of the application to withdraw or within any shorter period as provided by a regulation adopted or order issued under this chapter unless a revocation or suspension proceeding is pending when the application is filed. If a proceeding is pending, withdrawal becomes effective when and upon the conditions required by a regulation adopted or order issued under this chapter. The administrator may institute a revocation or suspension proceeding under AS 45.56.440 within one year after the withdrawal became effective automatically and issue a revocation or suspension order as of the last date on which registration was effective if a proceeding is not pending.
AK Stat § 45.56.410 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 2. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers.|Sec. 45.56.410. Fees.

(a) The administrator shall establish fees by regulation for (1) an initial filing of an application as a broker-dealer and renewal of an application by a broker-dealer for registration; (2) an application for registration as an agent and renewal of registration as an agent; (3) an application for registration as an investment adviser and renewal of registration as an investment adviser; (4) an application for registration as an investment adviser representative, a renewal of registration as an investment adviser representative, and a change of registration as an investment adviser representative; and (5) an initial fee and annual notice fee for a federal covered investment adviser required to file a notice under AS 45.56.360. (b) A person required to pay a filing or notice fee under this section may transmit the fee through or to a designee as provided by a regulation adopted or order issued under this chapter. (c) The administrator may establish other fees by regulation as necessary to administer this chapter.
AK Stat § 45.56.500 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.500. General fraud.

A person may not, in connection with the offer, sale, or purchase of a security, directly or indirectly, (1) employ a device, scheme, or artifice to defraud; (2) make an untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which they were made, not misleading; or (3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person.
AK Stat § 45.56.510 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.510. Prohibited conduct in providing investment advice.

(a) A person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as part of a regular business, issues or adopts analyses or reports relating to securities may not (1) employ a device, scheme, or artifice to defraud another person; or (2) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person. (b) A regulation adopted under this chapter may define an act, practice, or course of business of an investment adviser or an investment adviser representative, other than a supervised person of a federal covered investment adviser, as fraudulent, deceptive, or manipulative and may prescribe means reasonably designed to prevent investment advisers and investment adviser representatives, other than supervised persons of a federal covered investment adviser, from engaging in acts, practices, and courses of business defined as fraudulent, deceptive, or manipulative. (c) A regulation adopted under this chapter may specify the contents of an investment advisory contract entered into, extended, or renewed by an investment adviser.
AK Stat § 45.56.520 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.520. Misleading filings.

A person may not, in a document filed with the administrator or in a proceeding under this chapter, make or cause to be made an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading.
AK Stat § 45.56.530 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.530. Misrepresentations concerning registration or exemption.

The filing of an application for registration, a registration statement, a notice filing under this chapter, the registration of a person, the notice filing by a person, or the registration of a security under this chapter does not constitute a finding by the administrator that a record filed under this chapter is true, complete, and not misleading. The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the administrator has passed on the merits or qualifications of, or recommended or given approval to, a person, security, or transaction. A person may not make, or cause to be made, to a purchaser, customer, client, or prospective customer or client a representation inconsistent with this section.
AK Stat § 45.56.540 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.540. Evidentiary burden.

(a) In a civil action or administrative proceeding under this chapter, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim. (b) In a criminal proceeding under this chapter, an exemption, exception, preemption, or exclusion claimed by the defendant is an affirmative defense. In this subsection, “affirmative defense” has the meaning given in AS 11.81.900.
AK Stat § 45.56.550 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.550. Filing of sales and advertising literature.

(a) Except as otherwise provided in (b) of this section, a regulation adopted or order issued under this chapter may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice, addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this chapter. (b) This section does not apply to sales and advertising literature specified in (a) of this section that relates to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by AS 45.56.110, 45.56.120, 45.56.130, or 45.56.150, except as required under AS 45.56.110(7). (c) The administrator may by regulation or order prohibit the publication, circulation, or use of any advertising considered false or misleading.
AK Stat § 45.56.560 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 3. Fraud and Liabilities.|Sec. 45.56.560. Qualified immunity.

A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the administrator, a designee of the administrator, the Securities and Exchange Commission, or a self-regulatory organization, unless the person knew, or should have known at the time the statement was made, that it was false in a material respect or the person acted in reckless disregard of the statement's truth or falsity.
AK Stat § 45.56.600 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.600. Administration.

(a) The department shall administer this chapter. (b) The administrator or an officer, employee, or designee of the administrator may not use for personal benefit or the benefit of others records or other information obtained by or filed with the administrator that is not public under AS 45.56.620(b). This chapter does not authorize the administrator or an officer, employee, or designee of the administrator to disclose the record or information, except in accordance with AS 45.56.620(c), 45.56.630, or 45.56.680. (c) This chapter does not create or diminish a privilege or exemption that exists at common law, by statute or regulation, or otherwise. (d) The administrator may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on the prevention and detection of securities fraud. In developing and implementing these initiatives, the administrator may collaborate with public and nonprofit organizations with an interest in investor education. The administrator may accept a grant or donation from a person that is not affiliated with the securities industry or from a nonprofit organization, regardless of whether the organization is affiliated with the securities industry, to develop and implement investor education initiatives. This subsection does not authorize the administrator to require participation or monetary contributions of a registrant in an investor education program.
AK Stat § 45.56.610 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.610. Administrative files and opinions.

(a) The administrator shall maintain, or designate a person to maintain, a register of applications for registration of securities; registration statements; notice filings; applications for registration of broker-dealers, agents, investment advisors, and investment adviser representatives; notice filings by federal covered investment advisors that are or have been effective under this chapter or former AS 45.55; notices of claims of exemption from registration or notice filing requirements contained in a record; orders issued under this chapter or former AS 45.55; and interpretative opinions or no-action determinations issued under this chapter. The register must be kept according to the existing retention schedule mandated by the department. (b) The administrator shall make all regulations, forms, interpretative opinions, and orders available to the public. (c) The administrator shall furnish a copy of a record that is a public record or a certification that the public record does not exist to a person upon request. A copy of the record certified or a certificate by the administrator of a record's nonexistence is prima facie evidence of a record or its nonexistence.
AK Stat § 45.56.620 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.620. Public records; confidentiality.

(a) Except as otherwise provided in (b) of this section, records obtained by the administrator or filed under this chapter, including a record contained in or filed with a registration statement, application, notice filing, or report are public records and are available for public examination under AS 40.25.100 - 40.25.295 (Alaska Public Records Act). (b) The following records are not public records under AS 40.25.100 - 40.25.295 (Alaska Public Records Act) and are not available for public examination under (a) of this section: (1) a record obtained by the administrator in connection with an audit, examination or inspection under AS 45.56.420(d) or an investigation under 45.56.680; (2) a part of a record filed in connection with a registration statement under AS 45.56.100 and 45.56.170 - 45.56.190 or a record under AS 45.56.420(d) that contains trade secrets or confidential information if the person filing the registration statement or report has asserted a claim of confidentiality or privilege that is authorized by law; (3) a record that is not required to be provided to the administrator or filed under this chapter and is provided to the administrator only on the condition that the record may not be subject to public examination or disclosure; (4) a nonpublic record received from a person specified in AS 45.56.630(a); and (5) a social security number, residential address unless used as a business address, and residential telephone number unless used as a business telephone number, contained in a record that is filed. (c) If disclosure is for the purpose of a civil, administrative, or criminal investigation, action, or proceeding or to a person specified in AS 45.56.630(a), the administrator may disclose a record obtained in connection with an audit or inspection under AS 45.56.420(d) or a record obtained in connection with an investigation under AS 45.56.680.
AK Stat § 45.56.630 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.630. Uniformity and cooperation with other agencies.

(a) The administrator may cooperate, coordinate, consult, and, subject to AS 45.56.620, share records and information with the securities regulator of another state, Canada, a Canadian province or territory, a foreign jurisdiction, the Securities and Exchange Commission, the United States Department of Justice, the Commodity Futures Trading Commission, the Federal Trade Commission, the Securities Investor Protection Corporation, a self-regulatory organization, a national or international organization of securities regulators, a federal or state banking and insurance regulator, and a governmental law enforcement agency to bring about greater uniformity in securities matters among the federal government, self-regulatory organizations, states, and foreign governments. (b) In cooperating, coordinating, consulting, and sharing records and information under this section and in acting by regulation, order, or waiver under this chapter, the administrator may take into consideration in carrying out the public interest the following general policies: (1) maximizing effectiveness of regulation for the protection of investors; (2) maximizing uniformity in federal and state regulatory standards; and (3) minimizing burdens on the business of capital formation, without adversely affecting essentials of investor protection. (c) The cooperation, coordination, consultation, and sharing of records and information authorized by this section includes (1) establishing or employing one or more designees as a central depository for registration and notice filings under this chapter and for records required or allowed to be maintained under this chapter; (2) developing and maintaining uniform forms; (3) conducting a joint examination or investigation; (4) holding a joint administrative hearing; (5) instituting and prosecuting a joint civil or administrative proceeding; (6) sharing and exchanging personnel; (7) coordinating registrations under AS 45.56.100 and 45.56.300 - 45.56.350 and exemptions under AS 45.56.150; (8) sharing and exchanging records, subject to AS 45.56.620; (9) formulating regulations, statements of policy, guidelines, forms, and interpretative opinions and releases; (10) formulating common systems and procedures; (11) notifying the public of proposed regulations, forms, statements of policy, and guidelines; (12) attending conferences and other meetings among securities regulators, that may include representatives of governmental and private sector organizations involved in capital formation, considered necessary or appropriate to promote or achieve uniformity; and (13) developing and maintaining a uniform exemption from registration for small issuers and taking other steps to reduce the burden of raising investment capital by small businesses.
AK Stat § 45.56.640 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.640. Securities investor education and training fund.

The securities investor education and training fund is created as a special fund in the general fund to provide funds for the purposes specified in AS 45.56.600(d). The legislature may appropriate 33 percent of the money received by this state from civil penalties under this chapter into the fund for securities investor education and training. Nothing in this section exempts money deposited into the fund from the requirements of AS 37.07 (Executive Budget Act) or dedicates money for a specific purpose.
AK Stat § 45.56.650 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 56. Alaska Securities Act|Article 4. Administration and Judicial Review.|Sec. 45.56.650. Service of process.

(a) A consent to service of process complying with this section required by this chapter shall be signed and filed in the form required by a regulation adopted or order issued under this chapter. A consent appointing the administrator the person's agent for service of process in a noncriminal action or proceeding against the person or the person's successor or personal representative under this chapter or a regulation adopted or order issued under this chapter after the consent is filed has the same force and validity as if the service were made personally on the person filing the consent. A person that has filed a consent under this subsection in connection with a previous application for registration or notice filing need not file an additional consent. (b) If a person, including a nonresident of this state, engages in an act, practice, or course of business prohibited or made actionable by this chapter or a regulation adopted or order issued under this chapter and the person has not filed a consent to service of process under (a) of this section, the act, practice, or course of business constitutes the appointment of the administrator as the person's agent for service of process in a noncriminal action or proceeding against the person or the person's successor or personal representative. (c) Service under (a) or (b) of this section may be made by providing a copy of the process to the office of the administrator, but the service is not effective unless (1) the plaintiff, which may be the administrator, promptly sends notice of the service and a copy of the process, return receipt requested, to the defendant or respondent at the address set out in the consent to service of process or, if a consent to service of process has not been filed, at the last known address, or takes other reasonable steps to give notice; and (2) the plaintiff files an affidavit of compliance with this subsection in the action or proceeding on or before the return day of the process, if any, or within the time that the court, or the administrator in a proceeding before the administrator, allows. (d) Service under (c) of this section may be used in a proceeding before the administrator or by the administrator in a civil action in which the administrator is the moving party. (e) If process is served under (c) of this section, the court, or the administrator in a proceeding before the administrator, shall order continuances as are necessary or appropriate to afford the defendant or respondent reasonable opportunity to defend.