reglab/housing_qa huggingface dataset:
SC Code § 35-1-506 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-506. 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 Securities Commissioner 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 Securities Commissioner has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction. It is unlawful to make, or cause to be made, to a purchaser, customer, client, or prospective customer or client a representation inconsistent with this section.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-507 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-507. 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 Securities Commissioner, or designee of the Securities Commissioner, the Securities and Exchange Commission, or a self-regulatory organization, unless the person knew, or should have known at the time that 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.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-508 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-508. Criminal penalties.

 (a) A person that wilfully violates this chapter, or a rule adopted or order issued under this chapter, except Section 35-1-504 or the notice filing requirements of Section 35-1-302 or 35-1-405, or that wilfully violates Section 35-1-505 knowing that the statement made is false or misleading in a material respect, is guilty of a:  (1) felony and, upon conviction, must be fined not more than fifty thousand dollars or imprisoned not more than ten years, or both, if the person's actions result in loss to an investor of twenty thousand dollars or more;  (2) felony and, upon conviction, must be fined in the discretion of the court or imprisoned not more than five years, or both, if the person's actions result in loss to an investor of more than one thousand dollars but less than twenty thousand dollars;  (3) misdemeanor and, upon conviction, must be fined not more than thirty thousand dollars or imprisoned not more than three years, or both, if the person's actions result in loss to an investor of one thousand dollars or less, or if no losses are proven. An individual convicted of violating a rule or order under this chapter may be fined, but may not be imprisoned, if the individual did not have knowledge of the rule or order.  (b) The Securities Commissioner may refer that evidence as is available concerning violations of this chapter or of any rule or order under this chapter to the appropriate Division of the Attorney General's Office or other appropriate prosecution, law enforcement, or licensing authorities who may institute the appropriate proceedings under this chapter.  (c) This chapter does not limit the power of this State to punish a person for conduct that constitutes a crime under other laws of this State.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-601 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-601. Administration.

 (a) This chapter shall be administered by the Attorney General who shall be ex officio the Securities Commissioner and who may employ such additional assistants as he deems necessary. The Securities Commissioner may delegate any or all of his duties pursuant to this chapter to members of his staff, as he deems necessary or appropriate.  (b) It is unlawful for the Securities Commissioner or an officer, employee, or designee of the Securities Commissioner to use for personal benefit or the benefit of others records or other information obtained by or filed with the Securities Commissioner that are not public under Section 35-1-607(b). This chapter does not authorize the Securities Commissioner or an officer, employee, or designee of the Securities Commissioner to disclose the record or information, except in accordance with Section 35-1-602, 35-1-607(c), or 35-1-608.  (c) This chapter does not create or diminish a privilege or exemption that exists at common law, by statute or rule, or otherwise.  (d) The Securities Commissioner may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on responsible investing and on the prevention and detection of securities fraud. In developing and implementing these initiatives, the Securities Commissioner may collaborate with public and nonprofit organizations with an interest in investor education. The Securities Commissioner may accept grants or donations to develop and implement investor education initiatives. This subsection does not authorize the Securities Commissioner to require participation or monetary contributions of a registrant in an investor education program.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-603 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-603. Civil enforcement.

 (a) If the Securities Commissioner believes that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this chapter or a rule adopted or order issued under this chapter or that a person has, is, or is about to engage in an act, practice, or course of business that materially aids a violation of this chapter or a rule adopted or order issued under this chapter, the Securities Commissioner may maintain an action in the Richland County Court of Common Pleas to enjoin the act, practice, or course of business and to enforce compliance with this chapter or a rule adopted or order issued under this chapter.  (b) In an action under this section and on a proper showing, the court may:  (1) issue a permanent or temporary injunction, restraining order, or declaratory judgment;  (2) order other appropriate or ancillary relief, which may include:  (A) an asset freeze, accounting, writ of attachment, writ of general or specific execution, and appointment of a receiver or conservator, that may be the Securities Commissioner, for the defendant or the defendant's assets;  (B) ordering the Securities Commissioner to take charge and control of a defendant's property, including investment accounts and accounts in a depository institution, rents, and profits; to collect debts; and to acquire and dispose of property;  (C) imposing a civil penalty in an amount not to exceed ten thousand dollars for each violation; an order of rescission, restitution, or disgorgement directed to a person that has engaged in an act, practice, or course of business constituting a violation of this chapter or the predecessor chapter or a rule adopted or order issued under this chapter or the predecessor chapter; and  (D) ordering the payment of prejudgment and postjudgment interest; or  (3) order such other relief as the court considers appropriate.  (c) The Securities Commissioner may not be required to post a bond in an action or proceeding under this chapter.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-606 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-606. Administrative files and opinions.

 (a) The Securities Commissioner 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 advisers, and investment adviser representatives; notice filings by federal covered investment advisers that are or have been effective under this chapter or the predecessor chapter; notices of claims of exemption from registration or notice filing requirements contained in a record; orders issued under this chapter or the predecessor chapter; and interpretative opinions or no action determinations issued under this chapter.  (b) The Securities Commissioner shall make all rules, forms, interpretative opinions, and orders available to the public.  (c) The Securities Commissioner 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 that so requests. A rule adopted or order issued under this chapter may establish a reasonable charge for furnishing the record or certification. A copy of the record certified or a certificate by the Securities Commissioner of a record's nonexistence is prima facie evidence of a record or its nonexistence.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-607 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-607. Public records; confidentiality.

 (a) Except as otherwise provided in subsection (b), records obtained by the Securities Commissioner 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.  (b) The following records are not public records and are not available for public examination under subsection (a):  (1) a record obtained by the Securities Commissioner in connection with an audit or inspection under Section 35-1-411(d) or an investigation under Section 35-1-602;  (2) a part of a record filed in connection with a registration statement under Sections 35-1-301 and 35-1-303 through 35-1-305 or a record under Section 35-1-411(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 Securities Commissioner or filed under this chapter and is provided to the Securities Commissioner only on the condition that the record will not be subject to public examination or disclosure;  (4) a nonpublic record received from a person specified in Section 35-1-608(a);  (5) any 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;  (6) a record obtained by the Securities Commissioner through a designee of the Securities Commissioner that a rule or order under this chapter determines has been:  (A) expunged from the Securities Commissioner's records by the designee; or  (B) determined to be nonpublic or nondisclosable by that designee if the Securities Commissioner finds the determination to be in the public interest and for the protection of investors;  (7) a record provided to the Securities Division of the Office of the Attorney General pursuant to Section 35-1-870.  (c) If disclosure is for the purpose of a civil, administrative, or criminal investigation, action, or proceeding or to a person specified in Section 35-1-608(a), the Securities Commissioner may disclose a record obtained in connection with an audit or inspection under Section 35-1-411(d) or a record obtained in connection with an investigation under Section 35-1-602.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006; 2021 Act No. 84 (S.425), Section 3, eff May 18, 2021.  Effect of Amendment  2021 Act No. 84, Section 3, in (b), added (7).
SC Code § 35-1-608 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-608. Uniformity and cooperation with other agencies.

 (a) The Securities Commissioner shall, in its discretion, cooperate, coordinate, consult, and, subject to Section 35-1-607, 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 effectuate 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 rule, order, or waiver under this chapter, the Securities Commissioner shall, in its discretion, 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 Sections 35-1-301 and 35-1-401 through 35-1-404 and exemptions under Section 35-1-203;  (8) sharing and exchanging records, subject to Section 35-1-607;  (9) formulating rules, statements of policy, guidelines, forms, and interpretative opinions and releases;  (10) formulating common systems and procedures;  (11) notifying the public of proposed rules, forms, statements of policy, and guidelines;  (12) attending conferences and other meetings among securities regulators, which may include representatives of governmental and private sector organizations involved in capital formation, deemed 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.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-609 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-609. Judicial review.

 A person aggrieved by a final order of the Securities Commissioner may obtain a review of the order in the Richland County Court of Common Pleas by filing in the court, within thirty days after entry of the order, a written petition praying that the order may be modified or set aside in whole or in part. The aggrieved person, upon filing a petition, may move before the court in which the petition is filed to stay the effectiveness of the Securities Commissioner's final order until such time as the court has reviewed the order. If the court orders a stay, the aggrieved person must post any bond set by the court in which a petition is filed. A copy of the petition must be served upon the Securities Commissioner, and the Securities Commissioner shall certify and file in court a copy of the filing and evidence upon which the order was entered. When these have been filed, the court has exclusive jurisdiction to affirm, modify, enforce or set aside the order, in whole or in part. The findings of the Securities Commissioner as to the facts, if supported by competent, material, and substantial evidence, are conclusive.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-611 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-611. Service of process.

 (a) A consent to service of process complying with this section required by this chapter must be signed and filed in the form required by a rule or order under this chapter. A consent appointing the Securities Commissioner 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 rule 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 complying with 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 rule adopted or order issued under this chapter and the person has not filed a consent to service of process under subsection (a), the act, practice, or course of business constitutes the appointment of the Securities Commissioner 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 subsection (a) or (b) may be made by providing a copy of the process to the office of the Securities Commissioner, but it is not effective unless:  (1) the plaintiff, which may be the Securities Commissioner, promptly sends notice of the service and a copy of the process, return receipt requested, to the defendant or respondent at the address set forth 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 Securities Commissioner in a proceeding before the Securities Commissioner, allows.  (d) Service pursuant to subsection (c) may be used in a proceeding before the Securities Commissioner or by the Securities Commissioner in a civil action in which the Securities Commissioner is the moving party.  (e) If process is served under subsection (c), the court, or the Securities Commissioner in a proceeding before the Securities Commissioner, shall order continuances as are necessary or appropriate to afford the defendant or respondent reasonable opportunity to defend.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-612 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-612. Severability clause.

 If any provision of this chapter or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-701 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-701. Application of act to existing proceeding and existing rights and duties.

 (a) The predecessor chapter exclusively governs all actions or proceedings that are pending on the effective date of this chapter or may be instituted on the basis of conduct occurring before the effective date of this chapter, but a civil action may not be maintained to enforce any liability under the predecessor chapter unless instituted within any period of limitation that applied when the cause of action accrued or within five years after the effective date of this chapter, whichever is earlier.  (b) All effective registrations under the predecessor chapter, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no action determinations, and conditions imposed on the registrations under the predecessor chapter remain in effect while they would have remained in effect if this chapter had not been enacted. They are considered to have been filed, issued, or imposed under this chapter, but are exclusively governed by the predecessor chapter.  (c) The predecessor chapter exclusively applies to an offer or sale made within one year after the effective date of this chapter pursuant to an offering made in good faith before the effective date of this chapter on the basis of an exemption available under the predecessor chapter.  HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.
SC Code § 35-1-703 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-703. Effective date.

 This act takes effect on January 1, 2006.  HISTORY: 2005 Act No. 110, Sections 1, eff January 1, 2006.
SC Code § 35-1-800 (2021)
2021 South Carolina Code of Laws|Title 35 - Securities|Chapter 1 - South Carolina Uniform Securities Act Of 2005|Section 35-1-800. Definitions.

 In this article, unless the context otherwise requires:  (1) "Agencies" means the Adult Protective Services Program in the Department of Social Services and the Securities Division of the Office of the Attorney General.  (2) "Eligible adult" means:  (a) a person fifty-five years of age or older; or  (b) a vulnerable adult subject to Section 43-35-10(11).  (3) "Financial exploitation" means:  (a) the wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or property of an eligible adult; or  (b) any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:  (i) obtain the control, use, or benefit, through deception, intimidation, or undue influence, or by the use of any scheme, device, or artifice to defraud, of the eligible adult's money, assets, or property to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property; or  (ii) convert the money, assets, or property of the eligible adult to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property.  (4) "Qualified individual" means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser.  (5) "Reasonably associated individual" means any person known to a qualified individual to be reasonably associated with an eligible adult or his account.  HISTORY: 2021 Act No. 84 (S.425), Section 2, eff May 18, 2021.