reglab/housing_qa huggingface dataset:
Ohio Rev Code § 1707.053 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.053 | Offerings-Certification From Purchasers.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|The certification obtained by the portal operator from each prospective purchaser through an OhioInvests portal shall, at a minimum, state the following:  "I UNDERSTAND AND ACKNOWLEDGE THAT: If I make an investment in an offering through this OhioInvests portal, it is very likely that I am investing in a high-risk, speculative business venture that could result in the complete loss of my investment, and I need to be able to afford such a loss. This offering has not been reviewed or approved by any state or federal securities commission or division or other regulatory authority and that no such person or authority has confirmed the accuracy or determined the adequacy of any disclosure made to me relating to this offering. If I make an investment in an offering through this OhioInvests portal, it is very likely that the investment will be difficult to transfer or sell and, accordingly, I may be required to hold the investment indefinitely. By entering into this transaction with the company, I am affirmatively representing myself as being an Ohio resident at the time that this contract is formed, and if this representation is subsequently shown to be false, the contract is void."
Ohio Rev Code § 1707.054 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.054 | Portal Operators-License.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|(A) No person other than a dealer licensed under this chapter shall offer or sell securities pursuant to an OhioInvests offering or otherwise act as a portal operator unless the person is licensed as a portal operator by the division of securities or is transacting business through a portal operator licensed by the division. Application for a portal operator's license shall be made in accordance with this section and by filing with the division of securities the information, materials, and forms specified in rules adopted by the division, along with all of the following: (1) An application in the form prescribed by the division and all applicable schedules and supplemental information; (2) A copy of the articles of incorporation or other documents that indicate the entity's form of organization; (3) The filing fee as prescribed in section 1707.17 of the Revised Code. (B) If the division approves the entity as a portal operator, the division shall issue a license certificate to the entity.
Ohio Rev Code § 1707.055 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.055 | Portal Operators-Prohibited Conduct for Non-Dealer Operators.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|No portal operator that is not also a licensed dealer shall do any of the following: (A) Offer investment advice or recommendations, or solicit the purchase or sale of securities. For purposes of this division, a portal operator shall not be considered to be offering investment advice or recommendations merely because it selects, or may perform due diligence with respect to, issuers or offerings to be listed or merely because it provides general investor educational materials. (B) Provide transaction-based compensation for securities sold under this chapter to employees, agents, or other persons unless the employees, agents, or other persons are licensed under this chapter and permitted to receive such compensation. (C) Charge a fee to the issuer for an offering of securities on an OhioInvests portal unless the fee is one of the following: (1) A fixed amount for each offering; (2) A variable amount based on the length of time that the securities are offered on the portal; (3) A combination of such fixed or variable amounts. (D) Hold, manage, possess, or otherwise handle purchaser funds or securities, unless the portal operator is the issuer. (E) No portal operator shall allow its officers, directors, or partners, or any person occupying similar status or performing similar function, to have a financial interest in an OhioInvests issuer using the services of the portal operator, or receive a financial interest in the OhioInvests issuer as compensation for services provided to, or for the benefit of, the OhioInvests issuer, in connection with the offer and sale of its securities.
Ohio Rev Code § 1707.056 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.056 | Portal Operators-Oversight, Purchase Limits, and Purchaser Privacy.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|(A) Each portal operator shall do all of the following: (1) Provide the division of securities with read-only access to the administrative sections of its OhioInvests portal; (2) Upon the written request of the division, furnish to the division any of the records required to be maintained and preserved under section 1707.057 of the Revised Code. (3) Take reasonable efforts to verify that no purchaser exceeds the purchase limitations set forth in division (F) of section 1707.051 of the Revised Code. (B)(1) A portal operator shall not disclose, except to the division of securities, personal information without the written or electronic consent of the prospective purchaser or purchaser. For purposes of division (B) of this section, "personal information" means information provided to a portal operator by a prospective purchaser or purchaser that identifies, or can be used to identify, the prospective purchaser or purchaser.  (2) Division (B)(1) of this section does not apply with respect to records required to be furnished to the division under division (A)(2) of this section, the disclosure of personal information to an OhioInvests issuer relating to its OhioInvests offering, or the disclosure of personal information to the extent required or authorized under other law.
Ohio Rev Code § 1707.057 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.057 | Portal Operators-Record Keeping Requirements.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|(A) Each portal operator shall maintain and preserve, for a period of at least five years from either the date of the closing or date of the termination of the securities offering, all of the following: (1) The name of each issuer whose securities have been listed on its OhioInvests portal and the full name, residential address, social security number, date of birth, and copy of a state-issued identification of all owners with greater than ten per cent voting equity in the issuer; (2) Copies of all offering materials that have been displayed on its OhioInvests portal; (3) The names and other personal information of each purchaser who has registered at its OhioInvests portal; (4) Any agreements and contracts between the portal operator and an issuer; (5) Any information used to establish that a prospective purchaser or purchaser of securities through its OhioInvests portal is a resident of this state and that an issuer whose securities are listed on the portal has its principal office in this state; (6) Any other records the division requires by rule to be maintained and preserved. (B)(1) The records described in division (A) of this section shall be maintained and preserved in a manner, including by any electronic storage media, that does all of the following: (a) Permits the immediate location of any particular document; (b) Retains the documents exclusively in a nonrewriteable, nonerasable format; (c) Verifies automatically the quality and accuracy of the storage recording process; (d) Serializes the originals; (e) Allows indexes and records preserved to be downloaded to an acceptable medium. (2) If the records retention system commingles records required to be retained under this section with other records, the division of securities may review all of the commingled records. (C) Notwithstanding divisions (A) and (B) of this section, the failure of a portal operator that is not the issuer to comply with those divisions does not affect the OhioInvests issuers' exemption from registration under section 1707.051 of the Revised Code.
Ohio Rev Code § 1707.092 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.092 | Notice Filings.

Effective: June 18, 2002|Latest Legislation:  Senate Bill 138 - 124th General Assembly|(A) For the purposes of selling securities in this state, except securities that are the subject matter of transactions enumerated in section 1707.03 of the Revised Code, an investment company, as defined by the Investment Company Act of 1940, that is registered or has filed a registration statement with the securities and exchange commission under the Investment Company Act of 1940, shall file the following with the division of securities:(1) A notice filing consisting of either of the following:(a) A copy of the investment company's federal registration statement as filed with the securities and exchange commission;(b) A form U-1 or form NF of the North American securities administrators association.(2) Appropriate filing fees consisting of both of the following:(a) A flat fee of one hundred dollars;(b) A fee calculated at one-tenth of one per cent of the aggregate price at which the securities are to be sold to the public in this state, which calculated fee, however, shall in no case be less than one hundred or more than one thousand dollars.(B)(1) Upon payment of the maximum filing fees as provided in division (A)(2) of this section, an investment company may sell an indefinite amount of securities in this state.(2) An investment company making a notice filing as provided in this section shall comply with section 1707.11 of the Revised Code. An investment company that previously filed with the division a valid consent to service of process pursuant to section 1707.11 of the Revised Code may incorporate that consent by reference.(C)(1) For offerings involving covered securities, as defined in section 18 of the "Securities Act of 1933," 15 U.S.C. 77r, that are not subject to section 1707.02, 1707.03, 1707.04, 1707.06, 1707.08, 1707.09, or 1707.091 of the Revised Code, or division (A) of this section, a notice filing shall be submitted to the division together with a consent to service of process pursuant to section 1707.11 of the Revised Code and a filing fee as provided in division (A)(2) of this section.(2) The notice filing described in division (C)(1) of this section shall consist of any document filed with the securities and exchange commission pursuant to the Securities Act of 1933, together with annual or periodic reports of the value of the securities sold or offered to be sold to persons located in this state.(D) A notice filing submitted under this section shall be effective for thirteen months.
Ohio Rev Code § 1707.093 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.093 | Electronic Filings.

Effective: March 18, 1999|Latest Legislation:  House Bill 695 - 122nd General Assembly|Notwithstanding any provision of Chapter 1707. of the Revised Code, or any rule adopted by the division of securities under that chapter, requiring a signature or verification, the division may provide by rule for the electronic filing or submission of any form, document, material, or information that is required or permitted to be filed with or submitted to the division.
Ohio Rev Code § 1707.10 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.10 | Provisional Registration by Qualification.

Effective: March 31, 2021|Latest Legislation:  House Bill 312 - 133rd General Assembly|Any securities required by sections 1707.01 to 1707.50, inclusive, of the Revised Code, to be registered by qualification before being sold in this state may be offered for sale and sold preliminary to and pending their full qualification, where the division of securities is satisfied that the issuer is solvent and of good business repute and that such preliminary offering will not deceive or tend to deceive the public; but no such preliminary offering shall be made until the division consents thereto in writing, and such consent shall be on condition that within thirty days from the date thereof, or within such further time as the division allows, there is filed in the office of the division application under such sections for the full qualification of said securities, or for a registration of such securities by description if, within such time, such securities become entitled to registration by description; and the entire proceeds of the sale of such securities, without deduction for commissions or other charges, shall be segregated or deposited in escrow in such manner and for such time as the division directs. No applicant which is an issuer not a resident of this state shall be entitled to the benefit of this section unless there shall also be on file with the division a consent to service as provided in section 1707.11 of the Revised Code. At the time of filing the statement prescribed in this section, the applicant shall pay to the division the filing fee prescribed by section 1707.09 of the Revised Code; and upon receipt of notice of the division's favorable action on the application, the applicant shall pay to the division the registration fee prescribed by such section for the qualification of securities. If the dealer is unable to complete such qualification or such registration by description, or if the division, acting upon more complete information furnished or obtained from its examination, does not finally register such security by description or qualification, the issuer or dealer who has sold it or offered it for sale shall withdraw the security from the market and return or tender to purchasers of the security, within such time as the division specifies, the amounts paid for it by them.
Ohio Rev Code § 1707.11 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.11 | Consent to Service.

Effective: September 29, 2011|Latest Legislation:  House Bill 153 - 129th General Assembly|(A) Each person that is not organized under the laws of this state, that is not licensed under section 1703.03 of the Revised Code, or that does not have its principal place of business in this state, shall submit to the division of securities an irrevocable consent to service of process, as described in division (B) of this section, in connection with any of the following: (1) Filings to claim any of the exemptions enumerated in division (Q), (W), or (Y) of section 1707.03 of the Revised Code;(2) Applications for registration by description, qualification, or coordination;(3) Notice filings pursuant to section 1707.092 of the Revised Code.(B) The irrevocable written consent shall be executed and acknowledged by an individual duly authorized to give the consent and shall do all of the following:(1) Designate the secretary of state as agent for service of process or pleadings;(2) State that actions growing out of the sale of such securities, the giving of investment advice, or fraud committed by a person on whose behalf the consent is submitted may be commenced against the person, in the proper court of any county in this state in which a cause of action may arise or in which the plaintiff in the action may reside, by serving on the secretary of state any proper process or pleading authorized by the laws of this state;(3) Stipulate that service of process or pleading on the secretary of state shall be taken in all courts to be as valid and binding as if service had been made upon the person on whose behalf the consent is submitted.(C) Notwithstanding any application, form, or other material filed with or submitted to the division that purports to appoint as agent for service of process a person other than the secretary of state, the application, form, or other material shall be considered to appoint the secretary of state as agent for service of process.(D) Service of any process or pleadings may be made on the secretary of state by duplicate copies, of which one shall be filed in the office of the secretary of state, and the other immediately forwarded by the secretary of state by certified mail to the principal place of business of the person on whose behalf the consent is submitted or to the last known address as shown on the filing made with the division. However, failure to mail such copy does not invalidate the service.(E) Notwithstanding any provision of this chapter, or of any rule adopted by the division of securities under this chapter, that requires the submission of a consent to service of process, the division may provide by rule for the electronic filing or submission of a consent to service of process.
Ohio Rev Code § 1707.131 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.131 | Refusing Registration.

Effective: September 16, 2003|Latest Legislation:  House Bill 7 - 125th General Assembly|(A) For purposes of this section, "five per cent shareholder" means a beneficial owner of five per cent or more of the issuer's outstanding securities.(B) The division of securities shall refuse any registration by description, by qualification, or by coordination if the issuer is in the development stage and either has no specific business plan or purpose or has indicated that its business is to engage in a merger or acquisition with an unidentified company or companies, or other entities or persons.(C) The division may refuse any registration by description, by qualification, or by coordination if either of the following applies:(1) The issuer does not disclose in the final offering circular, prospectus, or form U-7 of the North American securities administrators association that any future transaction with an officer, director, five per cent shareholder, manager, trustee, or general partner will be on terms no less favorable to the issuer than could be obtained from an independent third party.(2) The issuer does not disclose both of the following in the final offering circular, prospectus, or form U-7 of the North American securities administrators association:(a) Any outstanding loan from the issuer to an officer, director, five per cent shareholder, manager, trustee, or general partner is required to be repaid within six months of the offering, except for a loan or extension of credit made by a bank.(b) Any future loan from the issuer to an officer, director, five per cent shareholder, manager, trustee, or general partner will be for a bona fide business purpose and approved by a majority of the disinterested directors, managers, trustees, or general partners, or will be a type of transaction involving a director or executive officer of the issuer that is permitted by section 13(k) of the "Securities Exchange Act of 1934," 116 Stat. 787, 15 U.S.C.A. 78m, as amended.
Ohio Rev Code § 1707.15 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.15 | Applying for Dealer's License.

Effective: June 18, 2002|Latest Legislation:  Senate Bill 138 - 124th General Assembly|(A) Application for a dealer's license shall be made in accordance with this section and by filing with the division of securities the information, materials, and forms specified in rules adopted by the division, along with all of the following information:(1) The name and address of the applicant;(2) The location and addresses of the principal office and all other offices of the applicant;(3) A general description of the business of the applicant done prior to the application, including a list of states in which the applicant is a licensed dealer.(B)(1) The division may investigate any applicant for a license, and may require such additional information as it deems necessary to determine the applicant's business repute and qualifications to act as a dealer in securities.(2) If the application for any license involves investigation outside of this state, the applicant may be required by the division to advance sufficient funds to pay any of the actual expenses of such examination. An itemized statement of any such expenses which the applicant is required to pay shall be furnished the applicant by the division.(C) The division shall by rule require one natural person who is a principal, officer, director, general partner, manager, or employee of a dealer to pass an examination designated by the division. Each dealer that is not a natural person shall notify the division of the name and relationship to the dealer of the natural person who has passed the examination on behalf of the dealer and who will serve as the designated principal on behalf of the dealer.(D) Dealers shall employ as salespersons only those salespersons who are licensed under this chapter. If at any time a salesperson resigns or is discharged or a new salesperson is added, the dealer shall promptly notify the division.(E) If the division finds that the applicant is of good business repute, appears qualified to act as a dealer in securities, and has fully complied with this chapter and rules adopted under this chapter by the division, the division, upon payment of the fees prescribed by division (B) of section 1707.17 of the Revised Code, shall issue to the applicant a license authorizing the applicant to act as a dealer.
Ohio Rev Code § 1707.151 (2021)
2021 Ohio Revised Code|Title 17 | Corporations-Partnerships|Chapter 1707 | Securities|Section 1707.151 | Application for and Issuance of Investment Adviser's License.

Effective: June 18, 2002|Latest Legislation:  Senate Bill 138 - 124th General Assembly|(A) Application for an investment adviser's license shall be made in accordance with this section and by filing with the division of securities the information, materials, and forms specified in rules adopted by the division.(B)(1) The division may investigate any applicant for a license and may require any additional information as it considers necessary to determine the applicant's business repute and qualifications to act as an investment adviser.(2) If the application for any license involves investigation outside of this state, the applicant may be required by the division to advance sufficient funds to pay any of the actual expenses of the examination. The division shall furnish the applicant with an itemized statement of such expenses that the applicant is required to pay.(C) The division shall by rule require a natural person who is an applicant for an investment adviser's license to pass an examination designated by the division or achieve a specified professional designation.(D) An investment adviser licensed under section 1707.141 of the Revised Code shall employ only investment adviser representatives licensed, or exempted from licensure, under section 1707.161 of the Revised Code.(E) If the division finds that the applicant is of good business repute, appears to be qualified to act as an investment adviser, and has complied with this chapter and rules adopted under this chapter by the division, the division, upon payment of the fees prescribed by division (B) of section 1707.17 of the Revised Code, shall issue to the applicant a license authorizing the applicant to act as an investment adviser.