reglab/housing_qa huggingface dataset:
AL Code § 8-6-18 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-18 - Criminal Penalties for Violations of Article; Enforcement; Scienter.

Section 8-6-18Criminal penalties for violations of article; enforcement; scienter. (a) A person who willfully violates Section 8-6-3 or Section 8-6-4, upon conviction, shall be guilty of a Class C felony. A person that willfully violates subsection (a), (b), or (c) of Section 8-6-17, upon conviction, shall be guilty of a Class B felony. The limitations period for any prosecution under this section does not commence or begin to accrue until the discovery of the facts constituting the deception, after which the prosecution shall be commenced within five years. (b) A person who willfully violates any provision of this chapter, other than those noted in subsection (a), or a rule adopted or order issued under this chapter, upon conviction, shall be guilty of a Class A misdemeanor. (c) The enforcement of the provisions of this article shall be vested in the commission. It shall be the duty of the commission to see that its provisions are at all times obeyed and to take such measures and to make such investigations as will prevent or detect the violation of any provision thereof. The commission shall at once lay before the district attorney of the proper county any evidence which shall come to its knowledge of criminality under this article. In the event of the neglect or refusal of the district attorney to institute and prosecute such violation, the commission shall be authorized to proceed therein with all the rights, privileges, and powers conferred by law upon district or court attorneys including the power to appear before grand juries and to interrogate witnesses before such grand juries. (d) Nothing in this article limits the power of the state to punish any person for any conduct which constitutes a crime by statute or at common law. (e) In any proceeding under this article, scienter need not be alleged and proved in prosecutions involving the sale of unregistered securities or in the failure to register as a dealer, agent, investment adviser, or investment adviser representative under this article. (Acts 1959, No. 542, p. 1318, §17; Acts 1969, No. 605, p. 1093, §7; Acts 1971, No. 2243, p. 3598, §3; Acts 1979, No. 79-462, p. 827, §6; Acts 1990, No. 90-527, p. 772, §1; Act 2009-774, p. 2401, §1; Act 2014-348, p. 1293, §1.)
AL Code § 8-6-21 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-21 - Commission Authorized to Swear Out Warrants of Arrest; Liability of Commission for Warrant.

Section 8-6-21Commission authorized to swear out warrants of arrest; liability of commission for warrant. The Securities Commission is authorized and empowered to swear out warrants of arrest against any person violating the criminal provisions of this article, and it shall not be liable in damages or to an action for damages by reason of swearing out warrants or for causing the arrest and detention or imprisonment of any person or persons under such warrant or warrants. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-22 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-22 - Duties of Director; Director Empowered to Swear Out Warrants of Arrest; Liability of Director for Warrant.

Section 8-6-22Duties of director; director empowered to swear out warrants of arrest; liability of director for warrant. The Director of the Securities Commission shall keep the records of the commission and generally perform such duties as the commission may direct. When ordered by the commission, he shall be authorized and empowered to swear out warrants of arrest against any person violating the criminal provisions of this article. He shall not be liable in damages or to an action for damages by reason of swearing out such warrant or warrants or for causing the arrest, detention, or imprisonment of any person or persons under such warrant or warrants. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-23 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-23 - Making, Amending, and Rescinding Rules and Prescribing Forms by Commission.

Section 8-6-23Making, amending, and rescinding rules and prescribing forms by commission. The Securities Commission may from time to time make, amend, and rescind such rules and prescribe such forms as are necessary and desirable to carry out the provisions of this article. No rules or forms may be made or prescribed unless the commission finds that the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of this article. In prescribing rules and forms the commission may cooperate with the securities administrators of the other states and the securities and exchange commission with a view to effectuating the policy of this article to achieve maximum uniformity in the form and content of registration statements, applications, and reports wherever practicable. All rules and forms of the commission shall be published. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-24 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-24 - Liability for Acts Done or Omitted in Good Faith Under Rules, Forms, or Orders.

Section 8-6-24Liability for acts done or omitted in good faith under rules, forms, or orders. No provision of this article imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form, or order of the Securities Commission, notwithstanding that the rule or form may later be amended or rescinded or be determined by judicial or other authority to be invalid for any reason. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-25 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-25 - Hearings to Be Public; Requests for Private Hearings.

Section 8-6-25Hearings to be public; requests for private hearings. Every hearing in an administrative proceeding shall be public unless the Securities Commission, in its discretion, grants a request joined in by all the respondents that the hearing be conducted privately. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-26 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-26 - Document Deemed Filed When Received.

Section 8-6-26Document deemed filed when received. A document is deemed filed when it is received by the Securities Commission. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-27 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-27 - Commission to Keep Register; Register to Be Open for Public Inspection.

Section 8-6-27Commission to keep register; register to be open for public inspection. The Securities Commission shall keep a register of all applications for registration and registration statements which are or have ever been effective under this article and all denial, suspension, or revocation orders which have ever been entered under this article. The register shall be open for public inspection. The information contained in or filed with any registration statement, application, or report may be made available to the public under such rules as the commission prescribes. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-28 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-28 - Commission to Furnish Copies of Register Entries or Documents; Certified Copy Deemed Prima Facie Evidence.

Section 8-6-28Commission to furnish copies of register entries or documents; certified copy deemed prima facie evidence. Upon request and at such reasonable charges as it prescribes, the Securities Commission shall furnish to any person photostatic or other copies, certified under its seal of office if requested, of any entry in the register or any document which is a matter of public record. In any proceeding or prosecution under this article, any copy so certified is prima facie evidence of the contents of the entry or document certified. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-29 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-29 - Interpretative Opinions by Commission.

Section 8-6-29Interpretative opinions by commission. (a) The Securities Commission, in its discretion, may honor requests from interested persons for interpretative opinions and no-action letters. (b) Any person who makes application to the Securities Commission for an interpretative opinion or no-action letter shall be assessed a non-refundable filing fee of $150 upon application for such opinion or letter. Fees collected under this section shall be deposited in the Alabama Securities Commission Fund in the State Treasury to be drawn upon by the commission for its use in the administration of this article. (Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-30 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-30 - Burden of Proving Exemption or Exception From Definition.

Section 8-6-30Burden of proving exemption or exception from definition. In any proceeding under this article, the burden of proving an exemption or an exception from a definition is upon the person claiming it. (Acts 1959, No. 542, p. 1318, §21; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-31 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-31 - Commission May Issue Warnings to Public and Publish Information Regarding Orders.

Section 8-6-31Commission may issue warnings to public and publish information regarding orders. The Securities Commission may issue and give warnings to the public concerning securities being sold in this state and may in its discretion cause to be published information regarding any orders or rules issued by the commission in the implementation of its duties, including, without limitation, information pertaining to specific orders denying registration or prohibiting the sale of securities. (Acts 1959, No. 542, p. 1318, §25; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-32 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-32 - Party Aggrieved by Order Entitled to Hearing Before Commission; Appeals From Action of Commission.

Section 8-6-32Party aggrieved by order entitled to hearing before commission; appeals from action of commission. (a) Any person aggrieved by an order issued under this article shall be entitled to a hearing pursuant to the provisions of the Alabama Administrative Procedure Act (Section 41-22-1 et seq.) pertaining to "contested cases," if such person, within 28 days after delivery of the order, submits a written request for a hearing before the commission. The order shall disclose the right to a hearing upon written request within 28 days after delivery of the order. If no timely request for a hearing is made, the order shall constitute a final order of the commission. (b) Any appeal from any final order of the commission shall be made to the Circuit Court of Montgomery County and shall be governed by the provisions of the Alabama Administrative Procedure Act pertaining to judicial review. (Acts 1959, No. 542, p. 1318, §19; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-33 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 1 - General Provisions.|Section 8-6-33 - Disposition of Revenue.

Section 8-6-33Disposition of revenue. All moneys accruing to or collected by or through the Securities Commission shall be deposited when collected into the State Treasury to the credit of the general fund, unless otherwise provided by law. (Acts 1959, No. 542, p. 1318, §27; Acts 1969, No. 605, p. 1093, §8; Acts 1971, No. 2243, p. 3598, §4; Acts 1990, No. 90-527, p. 772, §1.)
AL Code § 8-6-50 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-50 - Created; Duties Generally.

Section 8-6-50Created; duties generally. There is created the Alabama Securities Commission, which shall be responsible for the enforcement of laws governing the issuance, sale, and other transactions relative to securities. (Acts 1969, No. 740, p. 1315, §1.)
AL Code § 8-6-51 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-51 - Membership; Qualifications and Appointment of Commissioners; Use or Disclosure of Confidential Information by Commissioners, Employees, etc.; Civil Liability of Commissioners.

Section 8-6-51Membership; qualifications and appointment of commissioners; use or disclosure of confidential information by commissioners, employees, etc.; civil liability of commissioners. (a) The Securities Commission shall consist of the Attorney General of Alabama, the State Superintendent of Banks, the State Superintendent of Insurance and four other members appointed by the Governor by and with the advice and consent of the Senate. Two appointed members shall be members of the Alabama Bar Association appointed from a list of three nominees for each position submitted by the bar association, and the other two appointed members shall be certified public accountants appointed from a list of three nominees for each position submitted by the Alabama Society of Certified Public Accountants. The membership of the commission shall be inclusive and reflect the racial, gender, geographic, urban/rural, and economic diversity of the state. (b) No person may be appointed to or by the commission while he is registered as a dealer or salesman under Article 1 of this chapter, while he is an officer, director or partner of any person so registered, while he is an officer, director or partner of an issuer which has a registration statement effective under Article 1 of this chapter or while he is occupying a similar status or performing similar functions. (c) It is unlawful for any member of the commission, the director or any other officer or employee of the commission to use for personal benefit any information which is filed with or obtained by the director and which is not made public. No provision of this article authorizes any member of the commission, the director or any other officer or employee of the commission to disclose any such information except among themselves or when necessary or appropriate in a proceeding or investigation under this article. No provision of this article either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to any member of the commission, the director, or any other officer or employee of the commission. (d) Except upon proof of corruption, no commissioner shall for his acts or his failure to act be civilly liable to any investor, applicant for registration, or any other person. (Acts 1969, No. 740, p. 1315, §2; Acts 1996, No. 96-749, p. 1320, §3.)
AL Code § 8-6-52 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-52 - Terms of Office of Appointed Members; Filling of Vacancies; Reappointment of Members.

Section 8-6-52Terms of office of appointed members; filling of vacancies; reappointment of members. (a) The Governor shall biennially appoint one Securities Commission member to serve for a term of four years; provided, however, that the Governor shall designate for the initial appointments one member to serve for a term of two years and one member to serve for a term of four years from their respective dates of appointment and qualification. Upon the expiration of these initial terms, the term of each member shall be four years from the date of his appointment and qualification, until his successor shall qualify; provided further, however, that, on April 4, 1988, no member shall serve more than two consecutive terms of office. (b) Vacancies shall be filled by the Governor for the unexpired term. (c) Members shall be eligible for reappointment. (Acts 1969, No. 740, p. 1315, §3; Acts 1988, No. 88-137, p. 199, §3.)
AL Code § 8-6-53 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-53 - Selection of Chair; Rules for Proceedings; Meetings; Quorum; Records and Reports; Access to Offices and Records; Exercise of Powers of Director.

Section 8-6-53Selection of chair; rules for proceedings; meetings; quorum; records and reports; access to offices and records; exercise of powers of director. (a) The Securities Commission shall select a chair and may adopt rules for conducting its proceedings. (b) The commission shall meet quarterly on a date it designates and may meet at other times it deems necessary, or when called by the chair or by any two members. Any three members shall constitute a quorum for transacting commission business. (c) Complete minutes of each meeting shall be kept and filed in the office of the commission and shall be available for public inspection during reasonable office hours. (d) The commission shall report annually to the Governor, to the legislature and to the state Legislative Council. The report shall contain the minutes of each meeting held during the year, legislative recommendations, a summary of violations of Article 1 of this chapter, actions taken for those violations, and other data and information deemed necessary or appropriate. (e) Each member of the commission shall have unrestricted access to all offices and records under the jurisdiction of the commission. (f) The commission, or a majority of the commission, may exercise any power or perform any act that the director is authorized to perform under this chapter. (Acts 1969, No. 740, p. 1315, §4; Acts 1992, No. 92-124, p. 224, §3.)
AL Code § 8-6-54 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-54 - Compensation of Members.

Section 8-6-54Compensation of members. (a) Each appointed member of the Securities Commission shall be paid $50 per day, for a period not to exceed a total of 60 days in any one calendar year, while engaged in the performance of his duties, and shall receive mileage and per diem as provided by Article 2 of Chapter 7 of Title 36. (b) Ex officio members shall not be entitled to any extra compensation for performing their duties under this chapter. (Acts 1969, No. 740, p. 1315, §5.)
AL Code § 8-6-55 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-55 - Director - Appointment; Duties Generally.

Section 8-6-55Director - Appointment; duties generally. (a) The Securities Commission shall appoint a full-time director who shall be a career employee subject to the provisions of the Alabama Merit System Law and whose employment may be terminated only for cause. (b) The director shall administer the provisions of Article 1 of this chapter under the supervision of the commission and in accordance with its policies. (Acts 1969, No. 740, p. 1315, §6.)
AL Code § 8-6-56 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-56 - Director - Qualifications; Interest in Banks, etc., Prohibited; Salary.

Section 8-6-56Director - Qualifications; interest in banks, etc., prohibited; salary. (a) The Director of the Securities Commission shall be a person of good moral character, at least 30 years of age, a resident of Alabama, a member of the Alabama bar and thoroughly familiar with corporate organization, investment banking, investment trusts, the sale of securities, and the statistical details of the manufacturing industries and commerce of this state. The Securities Commission may also require additional qualifications. (b) The director, while serving as such, shall not directly or indirectly be financially interested in or associated with any commercial bank, savings bank, trust company, industrial loan or investment company, credit union, building and loan association, or any other person subject to the jurisdiction of the commission or the director. (c) The salary of the director shall be fixed by the commission with the approval of the Governor and the State Personnel Board. (Acts 1969, No. 740, p. 1315, §7; Acts 1990, No. 90-527, p. 772, §2; Act 2018-187, §1.)
AL Code § 8-6-57 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 2 - Securities Commission.|Section 8-6-57 - Deputy Director.

Section 8-6-57Deputy director. (a) With the approval of the Securities Commission and subject to the provisions of the Merit System law, the director thereof may designate a deputy director, who shall possess qualifications fixed by the commission with the approval of the personnel department, and who shall perform such duties as the director shall designate. (b) In the absence of the director or his inability to act, the deputy director shall perform such duties as are required to be performed by the director. (c) The compensation of the deputy director shall be fixed by the commission, subject to the approval of the personnel department, in the salary range payable to attorneys in the Merit System classification of Attorney IV. (Acts 1969, No. 740, p. 1315, §8; Acts 1979, No. 79-462, p. 827, §7; Acts 1990, No. 90-527, p. 772, §2.)