reglab/housing_qa huggingface dataset:
RI Gen L § 7-11-505 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-505 - Unlawful representations concerning licensing, registration, or exemption.

§ 7-11-505. Unlawful representations concerning licensing, registration, or exemption.(a) Neither the fact that a notice filing or an application for licensing or a registration statement has been filed under this chapter nor the fact that a person is licensed or a security is registered under this chapter constitutes a finding by the director that a document filed under this chapter is true, complete, and not misleading. Neither of those facts nor the fact that an exemption or exception is available for a security or a transaction means that the director has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction.(b) No person may make, or cause to be made, to a purchaser, customer, or client a representation inconsistent with subsection (a) of this section.History of Section.P.L. 1990, ch. 460, § 2; P.L. 1997, ch. 69, § 1.
RI Gen L § 7-11-601 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-601 - Investigations - Subpoena power.

§ 7-11-601. Investigations — Subpoena power.(a) The director may make any investigation, within or without this state, as the director finds necessary to determine whether a person has violated, or is about to violate, this chapter or a rule or order of the director under this chapter or to aid in enforcement of this chapter.(b) Except as provided in § 7-11-703(c), the director may publish information concerning a violation of this chapter or a rule or order of the director under this chapter or concerning types of securities or acts or practices in the offer, sale, or purchase of types of securities which may operate as a fraud or deceit.(c) (1) For purposes of an investigation or proceeding under this chapter, the director or an officer or employee designated by the director may by rule or order administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production, by subpoena or otherwise, of books, papers, correspondence, memoranda, agreements, other documents, and records which the director determines to be relevant and material to the investigation or proceeding.(2) The director may require or permit a person to file a statement, under oath or otherwise as the director determines, as to the facts and circumstances concerning the matter to be investigated.(3) The director may issue and apply to enforce a subpoena in this state at the request of a securities agency or administrator of another state if the activities constituting an alleged violation for which the information is sought would be in violation of this chapter if the activities had occurred in this state.(d) If a person does not testify or produce the documents required by the director or a designated officer or employee pursuant to subpoena, the director or designated employee may apply to the court for an order compelling compliance.(e) A request for an order of compliance may be addressed to either:(1) The superior court if the person is subject to a service of process in this state; or(2) A court of another state able to assert jurisdiction over the person refusing to testify or produce, if the person is not subject to service of process in this state.(f) Not later than the time the director requests an order for compliance, the director shall either send notice of the request by registered or certified mail, return receipt requested, to the respondent at the last known address or take other steps that are reasonably calculated to give the respondent actual notice.History of Section.P.L. 1990, ch. 460, § 2; P.L. 1991, ch. 69, § 1.
RI Gen L § 7-11-602 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-602 - Enforcement.

§ 7-11-602. Enforcement.(a) If the director reasonably believes, whether or not based upon an investigation conducted under § 7-11-601, that any person has engaged, is engaging, or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order under this chapter, the director, in addition to any specific power granted under this chapter and subject to compliance with the requirements of § 7-11-712, may issue, without a prior hearing, an order against the person or persons engaged in the prohibited activities, directing them to desist and refrain from further illegal activity. The cease and desist order shall state the section of this chapter or rule or order of the director under this chapter that the director reasonably believes has been or is being violated.(b) If the director reasonably believes, whether or not based on an investigation conducted under § 7-11-601, that a person has violated this chapter or a rule or order of the director under this chapter, the director may, in addition to any specific power granted under this chapter, after notice and hearing in an administrative proceeding unless the right to notice and hearing is waived by the person against whom the sanction is imposed:(1) Issue a cease and desist order against the person;(2) Censure the person if the person is a licensed broker-dealer, sales representative, investment adviser, or investment adviser representative;(3) Bar or suspend the person from association with a licensed broker-dealer or investment adviser in this state; and(4) Issue an order against an applicant, licensed person, or other person who violates this chapter or a rule or order of the director under this chapter, imposing a civil penalty up to a maximum of ten thousand dollars ($10,000) for a single violation.(c) For purposes of determining what sanctions, if any, to be imposed under subsections (b)(1) through (b)(4) of this section, the director shall consider, among other factors, the frequency and persistence of the conduct constituting a violation of this chapter or a rule or order of the director under this chapter, the number of persons adversely affected by the conduct, and the resources of the person committing the violation.History of Section.P.L. 1990, ch. 460, § 2; P.L. 2003, ch. 58, § 1; P.L. 2003, ch. 69, § 1.
RI Gen L § 7-11-603 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-603 - Power of court to grant relief.

§ 7-11-603. Power of court to grant relief.(a) Upon a showing by the director that a person has violated or is about to violate this chapter or a rule or order of the director under this chapter, the superior court may grant or impose one or more of the following appropriate legal or equitable remedies:(1) Upon a showing of a violation of this chapter or a rule or order of the director under this chapter:(i) A temporary restraining order, permanent or temporary prohibitory or mandatory injunction, or a writ of prohibition or mandamus;(ii) A civil penalty up to a maximum of ten thousand dollars ($10,000) for a single violation or of one hundred thousand dollars ($100,000) for multiple violations in a single proceeding or a series of related proceedings;(iii) A declaratory judgment;(iv) Restitution to investors;(v) The appointment of a receiver or conservator for the defendant or the defendant's assets; and(vi) Other relief as the court deems just.(2) Upon a showing that the defendant is about to violate this chapter or a rule or order of the director under this chapter only:(i) A temporary restraining order;(ii) A temporary or permanent injunction; or(iii) A writ of prohibition or mandamus.(3) In determining the appropriate relief to grant, the court shall consider enforcement actions taken and sanctions imposed by the director under § 7-11-602 in connection with the transactions constituting violations of this chapter or a rule or order of the director under this chapter.(b) The director is not required to post a bond in an action under this section.(c) Upon a showing by the securities agency or administrator of another state that a person has violated the securities act of that state or a rule or order of the securities agency or administrator of that state, the court, in addition to any other legal or equitable remedies may impose one or more of the following remedies:(1) Appointment of a receiver, conservator, or ancillary receiver or conservator for the defendant or the defendant's assets located in this state; and(2) Other relief as the court deems just.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-604 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-604 - Criminal penalties.

§ 7-11-604. Criminal penalties.(a) A person who willfully violates a provision of this chapter, except § 7-11-504, or a rule of the director under this chapter, or who violates § 7-11-504, knowing the statement made or omitted to be false or misleading in any material respect, is guilty of a felony and upon conviction is fined not more than ten thousand dollars ($10,000) or imprisoned not more than ten (10) years, or both.(b) A person who willfully violates a stop order or a cease and desist order issued by the director under this chapter is guilty of a misdemeanor and is fined not more than one thousand dollars ($1,000) or imprisoned for not more than one year, or both.(c) A person convicted of violating a rule or order under this chapter may be fined as stated in subsection (b), but may not be imprisoned, if the person proves lack of knowledge of the rule or order.(d) No indictment or information may be brought under this section more than ten (10) years after the alleged violation.(e) The director may refer evidence concerning violations of this chapter or a rule or order of the director under this chapter to the attorney general who may, with or without a reference, institute appropriate criminal proceedings under this chapter.(f) Nothing in this chapter limits the power of this state to punish a person for conduct constituting a crime under other law.History of Section.P.L. 1990, ch. 460, § 2; P.L. 1994, ch. 266, § 3.
RI Gen L § 7-11-606 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-606 - Civil statute of limitations.

§ 7-11-606. Civil statute of limitations.No person may obtain relief under § 7-11-605 unless suit is brought within the earliest of one year after the discovery of the violation, one year after discovery should have been made by the exercise of reasonable care, or three (3) years after the act, omission, or transaction constituting the violation.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-607 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-607 - Rescission and settlement offers.

§ 7-11-607. Rescission and settlement offers.(a) No purchaser may obtain relief under § 7-11-605(a) if, before suit is commenced, the purchaser:(1) Receives a written offer:(i) Stating the respect in which liability under § 7-11-605 may have arisen and fairly advising the purchaser of the purchaser's rights of rescission;(ii) If the basis for relief under § 7-11-605(a) is a violation of § 7-11-501 or 7-11-503 of this chapter, including financial and other information necessary to correct all material misstatements or omissions in the information that was required by this chapter to be furnished to the purchaser as of the time of the sale of the security to the purchaser;(iii) Offering to repurchase the security for cash, payable on delivery of the security, equal to the consideration paid, plus interest at the legal rate of this state from the date of payment, less income received on the security, or, if the purchaser no longer owns the security, offering to pay the purchaser upon acceptance of the offer an amount in cash equal to the damages computed under § 7-11-605(a); and(iv) Stating that the offer may be accepted by the purchaser within thirty (30) days after the date of its receipt by the purchaser or any shorter period, not less than three (3) days, the director, by order, prescribes; and(2) Fails to accept the offer, in writing, within the period specified under subsection (a)(1)(iv).(b) The director may prescribe by rule the form in which the information specified in subsection (a) must be contained in an offer made under subsection (a).(c) An offer under subsection (a) must be delivered to the offeree or sent in a manner that assures actual receipt by the offeree.(d) If, after acceptance, a rescission offer is not performed in accordance with either its terms or this section, the offeree may obtain relief under § 7-11-605 without regard to this section.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-608 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-608 - General liability provisions.

§ 7-11-608. General liability provisions.(a) Except as provided in § 7-11-607, a tender required under this chapter may be made before entry of judgment.(b) The rights and remedies provided by this chapter are in addition to any other rights or remedies that exist at law or in equity, but this chapter does not create any claim for relief not specified in this part.(c) A claim for relief under this chapter survives the death of a person who might have obtained relief as a plaintiff or defendant.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-701 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-701 - Administration.

§ 7-11-701. Administration.This chapter is administered by the director. The general assembly shall annually appropriate any sums that it deems sufficient for the administration and enforcement of the provisions of this chapter; and the state controller is authorized and directed to draw his or her orders upon the general treasurer for the payment of the sums appropriated or so much of them as is from time to time required, upon receipt by him or her of proper vouchers approved by the director. All sums received by the director pursuant to the provisions of this chapter are deposited as general revenues.History of Section.P.L. 1990, ch. 460, § 2; P.L. 1995, ch. 370, art. 40, § 36.
RI Gen L § 7-11-702 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-702 - Prohibitions on use of information.

§ 7-11-702. Prohibitions on use of information.Neither the director nor an employee of the director may use, for personal gain or benefit, information filed with or obtained by the director that is not public information, nor may the director or an employee of the director conduct securities dealings based on information filed with or obtained by the director, even though public, if there has not been a sufficient period for the securities markets to assimilate the information.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-703 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-703 - Public information - Confidentiality.

§ 7-11-703. Public information — Confidentiality.(a) Except as provided in subsection (b), information and documents filed with or obtained by the director are public information and are available for public examination under the open records law of the state.(b) The following information and documents do not constitute public information under subsection (a):(1) Information or documents obtained by the director in connection with an investigation under § 7-11-601; and(2) Information or documents filed with the director in connection with a registration statement under part III or a report under § 7-11-209, which constitute trade secrets or commercial or financial information of a person for which that person is entitled to and has asserted a claim of confidentiality or privilege authorized by law.(c) The director may disclose:(1) Information obtained in connection with an investigation under § 7-11-601(a) to the extent provided in § 7-11-601(b) subject to the restrictions of subsection (b)(2) of this section; and(2) Information obtained in connection with an investigation under § 7-11-601(a), if disclosure is for the purpose of a civil, administrative, or criminal investigation or proceeding by a securities agency, law enforcement agency, or administrator specified in § 7-11-704(a), and the receiving agency or administrator represents, in writing, that under the applicable law protections exist to preserve the integrity, confidentiality, and security of the information.(d) This chapter does not create any privilege or derogate any privilege existing at common law, by statute, rule, or otherwise.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-704 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-704 - Cooperation with other agencies.

§ 7-11-704. Cooperation with other agencies.(a) To encourage uniform interpretation and administration of this chapter and effective securities regulation and enforcement, the director may cooperate with the securities agencies or administrators of one or more states, Canadian provinces or territories, or another country, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Securities Investor Protection Corporation, any self-regulatory organization, any national or international organization of securities officials or agencies, and any governmental law enforcement or regulatory agency.(b) The cooperation authorized by subsection (a) includes, but is not limited to, the following actions:(1) Establishing a central depository for licensing or registration under this chapter and for documents or records required or allowed to be maintained under this chapter;(2) Making a joint license or registration examination or investigation;(3) Holding a joint administrative hearing;(4) Filing and prosecuting a joint civil or administrative proceeding;(5) Sharing and exchanging personnel;(6) Sharing and exchanging information and documents subject to the restrictions of applicable state law; and(7) Formulating, in accordance with the administrative procedure act of this state, rules or proposed rules on matters such as statements of policy, guidelines, and interpretive opinions and releases.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-705 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-705 - Rules, forms, and orders.

§ 7-11-705. Rules, forms, and orders.(a) In addition to specific authority otherwise granted by this chapter, the director:(1) Shall adopt rules of practice describing the nature and requirements of all formal and informal procedures available to the public, including a description of all forms and instructions that are to be used by persons dealing with the director;(2) May adopt rules, in addition to those otherwise required by this chapter embodying appropriate standards, principles, and procedural safeguards that the director applies in the administration of this chapter; and(3) May adopt rules defining any term, whether or not used in this chapter, insofar as the definition is not inconsistent with this chapter.(b) To keep rules adopted by the director in harmony with the regulations adopted by the Securities and Exchange Commission under the federal securities laws and to encourage uniformity with the rules of securities agencies and administrators in other states, the director, insofar as is consistent with this chapter, shall take into consideration the regulations adopted by the Securities and Exchange Commission and the rules of securities agencies and administrators in other states that enact a law comparable to this chapter.(c) Unless specifically provided in this chapter to the contrary, no rule or order may be adopted, amended, or repealed unless the director determines that the action is:(1) In the public interest and appropriate for the protection of investors; and(2) Consistent with the purposes fairly intended by the policy and provisions of this chapter.(d) The director may use his or her own experience, technical competence, specialized knowledge, and judgment in the adoption of a rule.(e) The director may by rule or order prescribe:(1) The form and content of financial statements required under this chapter;(2) The circumstances under which consolidated financial statements must be filed; and(3) Whether a required financial statement must be certified and by whom. Unless the director provides otherwise by rule or order, a financial statement required under this chapter must be prepared in accordance with generally accepted accounting principles or other accounting principles as are prescribed for the issuer of the financial statement by the Securities and Exchange Commission.(f) The director shall file in the office of the secretary of state and in the director's office each rule adopted or amended and all rules existing on July 12, 1990 that have not been previously filed. The filing must be done as soon after adoption or amendment of the rule as is practicable. The director shall affix to each rule a certificate of the time and date of filing and keep a permanent register open to public inspection of all fixed rules.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-706 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-706 - Declaratory orders and rulings.

§ 7-11-706. Declaratory orders and rulings.(a) Any person may petition the director for a declaratory order as to the applicability to specified circumstances of a statute, rule, or order under this chapter. The director may issue a declaratory order in response to a petition for that order unless the director determines that the petition fails to comply with the director's rules or, if the order was issued, would substantially prejudice the rights of a person who would be a necessary party and does not consent to the determination of the matter by a declaratory order.(b) The director, upon application by an interested party, may conduct a hearing and issue a declaratory ruling as to the applicability of this chapter or a rule or order of the director under this chapter to a person, security or transaction, or as to the meaning of a term used in this chapter.History of Section.P.L. 1990, ch. 460, § 2.
RI Gen L § 7-11-707 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-11 - Rhode Island Uniform Securities Act|Section 7-11-707 - Good faith reliance.

§ 7-11-707. Good faith reliance.No provision of this chapter imposing liability applies to an act done or omitted in good faith in conformity with:(1) A rule or order adopted by the director, notwithstanding that the rule or order is later amended, repealed, or determined by judicial or other authority to be invalid; or(2) A declaratory order or ruling issued by the director under § 7-11-706.History of Section.P.L. 1990, ch. 460, § 2; P.L. 1991, ch. 69, § 1.