reglab/statecodes huggingface dataset:
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1945 - Application for registration as salesman; filing; contents; exemptions

44-1945.
Application for registration as salesman;  filing;  contents;  exemptions
A. Any individual may apply for registration as a salesman. An application for registration as a salesman shall be signed by the applicant and by the registered dealer employing or intending to employ the applicant and shall be duly verified by oath. The application accompanied by the registration fee prescribed by section 44-1861,  subsection A shall be filed with the commission and shall include the following,  together with other information the commission prescribes:
1. Name,  residence address and business address of the applicant.
2. Name of the dealer employing or intending to employ the applicant.
3. Age and education of the applicant.
4. The nature of employment and name and address of each employer of the applicant for the ten years immediately preceding the date of application.
5. A statement showing whether the applicant has been registered as a dealer in or salesman of securities under laws of other states or as a broker or dealer under the securities exchange act of 1934 and whether or not such registration has been denied,  cancelled,  suspended or revoked and,  if so,  a complete statement of the facts with respect to the denial,  cancellation,  suspension or revocation.
6. A statement showing whether the applicant has,  within the past ten years,  been convicted of or charged with a felony or misdemeanor of which fraud is an essential element,  or a felony or misdemeanor involving the purchase or sale of securities and,  if so,  a complete statement of the facts with respect to the conviction.
7. A statement showing whether the applicant has been enjoined or restrained by a court of competent jurisdiction in connection with the purchase or sale of securities and,  if so,  a complete statement of the facts with respect to the enjoinder.
8. If the applicant's fingerprints are not on file with the division,  the CRD system or the investment adviser registration depository operated by the national association of securities dealers,  a full set of fingerprints. The commission shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.
B. By rule or order,  the commission may provide limited registration requirements for any salesman or class of salesmen or exempt any salesman or class of salesmen from registration under this article if the commission determines that registration is not necessary to protect the public interest due to the special characteristics of the securities or transactions in which the salesman or class of salesmen is involved.
C. Any salesman effecting transactions in this state limited solely to those transactions described in sections 15(h)(2) and (3) of the securities exchange act of 1934 is exempt from registration under this article.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1946 - Registration in register of dealers and salesmen of applicant complying with requirements

44-1946.
Registration in register of dealers and salesmen of applicant complying with requirements
A. If an applicant has fully complied with the provisions of this article and the rules of the commission thereunder the director shall register the applicant as a salesman in a register of dealers and salesmen,  unless the commission finds cause for denial as provided for in article 10 of this chapter.
B. When the director has registered an applicant as a salesman he shall promptly notify the applicants of the registration by mail or by the CRD system.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1947 - Register of dealers and salesmen; recording registration and orders; transfer or expiration of registration

44-1947.
Register of dealers and salesmen;  recording registration and orders;  transfer or expiration of registration
A. The names and addresses of all persons who have been registered as dealers or salesmen,  and all orders with respect thereto,  shall be recorded in a register of dealers and salesmen in the office of the director.
B. The registration of a dealer who deals exclusively in securities of which the dealer is the issuer shall expire one year from the effective date of registration. All other registrations expire on December 31 of each calendar year unless renewed before expiration.
C. A salesman may transfer the salesman's registration to a registered dealer by filing a completed application for registration and remitting a transfer fee to the commission. The commission may transfer the registration of a registered salesman in accordance with the terms of a temporary agent transfer program utilized by the CRD system.
D. The expiration provisions described in subsection B of this section do not affect the right of the commission to suspend or revoke the registration of a dealer or salesman.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1948 - Reporting requirements of dealers and salesmen; real property records

44-1948.
Reporting requirements of dealers and salesmen;  real property records
A. Dealers and salesmen shall retain registration by filing:
1. A supplemental statement showing changes in the facts set forth in the original application for registration as supplemented or amended as such changes occur or within ninety days after the change.
2. In the case of a dealer that is registered under the securities exchange act of 1934 and to the extent requested by the commission,  any financial information that is required to be provided to the SEC or its designee under the securities exchange act of 1934. The dealer shall simultaneously file the same financial information with the commission.
3. In the case of a dealer that is not registered under the securities exchange act of 1934,  annually and within ninety days of the audit report date,  the audit report of an independent certified public accountant,  together with a balance sheet and related statements of income or operations,  stockholders' equity or retained earnings and cash flows that reflect the dealer s financial position,  the results of operations and cash flows prepared in conformity with generally accepted accounting principles and examined in accordance with generally accepted auditing standards.
B. Dealers shall maintain files in connection with transactions involving real property investment contracts that include listings,  deposit receipts,  cancelled checks,  copies of contracts,  agreements and sellers' statements,  documents concerning appraisals and credit investigations and all other correspondence relating to the purchase and sale of real property investment contracts. Dealers shall maintain books,  records and accounts in conformity with generally accepted accounting principles,  showing the receipt and disbursement of funds received by dealers and salesmen in connection with the purchase and sale of real property investment contracts. Dealers shall maintain files and records relating to transactions involving real property investment contracts for five years from the date the registration expires. The files and records are subject to inspection at all times by authorized representatives of the commission.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1949 - Duty of dealer to give notice of termination of employment of salesman; automatic suspension of salesman's registration; notice of employment of salesman

44-1949.
Duty of dealer to give notice of termination of employment of salesman;  automatic suspension of salesman's registration;  notice of employment of salesman
Each registered dealer shall promptly notify the director of the termination of the employment of a registered salesman. The registration of the salesman shall automatically be suspended from the time of termination of the employment until the salesman is again employed by a registered dealer and the director is notified by the dealer in writing or by the CRD system,  and the registered dealer is notified of approval of the registration by the director or the CRD system or the salesman has complied with all requirements in accordance with a temporary agent transfer program utilized by the CRD system and the commission.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1950 - Active military duty; compensation

44-1950.
Active military duty;  compensation
A salesman who is registered under this chapter and who is a member of the Arizona national guard,  the United States armed forces reserves or the regular component of the United States armed forces shall remain eligible to receive compensation for transactions under this chapter while the salesman is on federal active duty or while temporarily with a disability following federal active duty if the salesman's registration is in approved status or has been placed in a specially designated inactive status by the financial industry regulatory authority.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1963 - Entry of order of denial, revocation or suspension

44-1963.
Entry of order of denial,  revocation or suspension
A. If,  after A hearing or notice and opportunity for A hearing as provided by article 11 of this chapter,  the commission finds grounds to deny,  revoke or suspend the registration of a dealer or salesman,  the director shall enter an order in the register of dealers and salesmen denying,  revoking or suspending the registration of the dealer or salesman. The order shall state specifically the grounds for its issuance.
B. A copy of the order shall be sent by certified mail to the dealer or salesman whose registration is denied,  revoked or suspended and,  if the denial,  revocation or suspension of the registration is of a salesman,  to the registered dealer who employs the salesman.
C. Denial,  suspension or revocation of the registration of a dealer shall also suspend or revoke the registration of all of the dealer's salesmen,  but suspension or revocation of the registration of a salesman solely because the salesman was employed by a dealer whose registration was denied,  suspended or revoked shall not prejudice subsequent applications for registration by the salesman.
D. A dealer or salesman that has voluntarily terminated or allowed the dealer's or salesman's registration to lapse continues to be subject to actions by the commission under this article in connection with conduct that began before the termination or lapse of the registration. The commission shall begin any action under this article against the dealer or salesman within two years after the termination or lapse of the registration.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1964 - Temporary suspension orders

44-1964.
Temporary suspension orders
A. If the commission has reasonable grounds to believe that a registered dealer or salesman has been guilty of any act or omission which would be sufficient ground for denying or revoking the registration of the dealer or salesman,  it may enter an order temporarily suspending the registration of the dealer or salesman pending an examination into his affairs,  or pending a hearing or notice and opportunity for hearing as provided by article 11 of this chapter,  but no temporary suspension order shall be effective for more than thirty days except with consent of the registrant. The suspension order shall state specifically the grounds for its issuance.
B. On entry of the temporary suspension order,  or of an order withdrawing a temporary suspension order previously entered,  the director shall send a copy of the order,  by certified mail,  to the dealer or salesman whose registration is affected at the dealer's or salesman's business address,  and,  if the order affects the registration of a salesman,  to the registered dealer who employs the salesman.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1971 - Initiation of hearing; purpose of hearing

44-1971.
Initiation of hearing;  purpose of hearing
Hearings may be ordered by the commission on the commission's own initiative or at the written request of any interested person:
1. For the purpose of administering or obtaining information necessary in the enforcement of this chapter or the rules,  regulations or orders of the commission thereunder.
2. To enable the commission to take appropriate action in connection with any pending application for registration of any securities,  dealer or salesman.
3. To modify the terms and conditions of any registration.
4. To determine whether the registration of any securities or of any dealer or salesman should be denied,  suspended or revoked.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1972 - Notice of and opportunity for hearing; time of hearing

44-1972.
Notice of and opportunity for hearing;  time of hearing
A. Before entering an order denying or revoking the registration of any securities as provided in section 44-1901 or article 8 of this chapter the commission shall send to the issuer of the securities,  and,  if the application for registration of the securities was filed by a registered dealer,  to the dealer,  a notice of hearing or notice of opportunity for hearing.
B. Before entering an order denying,  revoking or suspending except temporarily the registration of a dealer or salesman as provided in article 10 of this chapter,  the commission shall send to the dealer or salesman,  and,  if a salesman,  to the registered dealer who employs or intends to employ the salesman,  a notice of hearing or notice of opportunity for a hearing.
C. Before entering an order to cease and desist or an order for rescission,  restitution or penalties,  the commission shall serve on each respondent a notice of a hearing or a notice of an opportunity for a hearing. The commission by rule may provide for temporary cease and desist orders where the public welfare requires immediate action.
D. Notices of hearing or notices of opportunity for a hearing shall be served as prescribed by rules adopted by the commission for service of subpoenas and cease and desist orders. The notice shall contain a statement of the matters to be considered and,  if a notice of opportunity for a hearing,  shall set forth that the person to whom the notice is sent will be afforded a hearing upon request to the commission if the request is made in writing within ten days after receipt of the notice.
E. When a person requests a hearing in accordance with this article,  the commission shall set a date,  time and place for the hearing and shall promptly notify the person requesting the hearing. The date set for the hearing shall be within sixty days,  but not earlier than twenty days,  after the request for a hearing has been made,  unless otherwise agreed to by both the commission and the person requesting the hearing. If the hearing is initiated by the commission,  the notice of hearing shall specify the date,  time and place of the hearing.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1973 - Conduct of hearing

44-1973.
Conduct of hearing
A. Any hearing under this article may be held before the commission,  a member thereof,  the director,  or other authorized officer of the commission as the commission directs.
B. Conduct of the hearing shall be governed by this section,  and by the rules of practice and procedure which may be adopted by the commission. Neither the commission nor any member thereof,  nor the director,  nor other authorized officer of the commission,  shall be bound by the technical rules of evidence in the conduct of hearings under this article,  and no informality in any proceeding,  as in the manner of taking testimony,  shall invalidate any order,  decision,  rule or regulation made,  approved or confirmed by the commission.
C. A stenographic record of all proceedings and testimony shall be made of each hearing by a shorthand reporter appointed by the commission,  and the record shall be reduced to writing and filed with the commission.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1974 - Rehearings

44-1974.
Rehearings
The commission may institute or grant rehearings on application made within twenty calendar days after entry of an order or decision. Unless otherwise ordered,  filing an application for rehearing does not stay the commission's decision or order. If the commission does not grant a rehearing within twenty calendar days,  the application is considered to be denied. Rehearings are subject to the provisions of this article.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1991 - Fraud in purchase or sale of securities

44-1991.
Fraud in purchase or sale of securities
A. It is a fraudulent practice and unlawful for a person,  in connection with a transaction or transactions within or from this state involving an offer to sell or buy securities,  or a sale or purchase of securities,  including securities exempted under section 44-1843 or 44-1843.01 and including transactions exempted under section 44-1844,  44-1845 or 44-1850,  directly or indirectly to do any of the following:
1. Employ any device,  scheme or artifice to defraud.
2. Make any untrue statement of material fact,  or omit to state any material fact necessary in order to make the statements made,  in the light of the circumstances under which they were made,  not misleading.
3. Engage in any transaction,  practice or course of business which operates or would operate as a fraud or deceit.
B. In a private action brought pursuant to subsection A,  paragraph 2 of this section or section 44-1992,  if the person who offered or sold the security proves that any portion or all of the amount recoverable under subsection A,  paragraph 2 of this section or section 44-1992 represents an amount other than the depreciation in value of the subject security resulting from the part of the prospectus or oral communication,  with respect to which the liability of the person is asserted,  not being true or omitting to state a material fact required to be stated or necessary to make the statement not misleading,  then the amount shall not be recoverable. This subsection does not apply to any actions based on allegations of activities constituting dishonest or unethical practices in the securities industry.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1992 - Filing of misleading information with commission

44-1992.
Filing of misleading information with commission
It is a fraudulent practice and unlawful:
1. For a person to subscribe to or make or cause to be made an untrue statement of a material fact in an application,  registration statement,  prospectus,  financial statement or document required to be filed under any provision of this chapter or any rule,  regulation or order of the commission thereunder.
2. To omit or cause to be omitted from any such application,  registration statement,  prospectus,  financial statement,  or other statement or document,  a material fact or statement necessary in order to make the statements made therein,  in the light of the circumstances under which they were made,  not misleading.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1993 - Misrepresentation of effect of registration of securities

44-1993.
Misrepresentation of effect of registration of securities
Neither the fact that securities are registered by description under article 6 of this chapter or by qualification under article 7 of this chapter,  nor the fact that registration of the securities has not been denied,  suspended or revoked shall be deemed a finding by the commission or by the director that the registration statement,  application for registration,  prospectus,  or any financial statement,  or other document or exhibit filed therewith is true or accurate,  or does not contain untrue statements of material facts,  or omit material facts,  or to mean that the commission or the director has passed upon the merits of or otherwise approved the securities so registered. It is a fraudulent practice and unlawful for a person to make or cause to be made to a prospective purchaser of the securities a statement or other representation contrary to this section.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1994 - Misrepresentation of effect of registration of dealers or salesmen

44-1994.
Misrepresentation of effect of registration of dealers or salesmen
Neither the fact that a dealer or salesman is registered under article 9 of this chapter,  nor the fact that the registration of the dealer or salesman has not been denied,  suspended or revoked shall be deemed a finding by the commission or by the director that the dealer or salesman is of good business reputation,  or is not lacking in integrity,  or is not insolvent,  or that the application for registration of the dealer or salesman,  or any financial statement,  document or exhibit filed therewith is true or accurate,  or does not contain untrue statements of material facts or omit material facts. It is a fraudulent practice and unlawful for a dealer or salesman in connection with any transaction involving the purchase or sale of securities to make a statement or other representation contrary to this section.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1996 - Prohibition of referral fees

44-1996.
Prohibition of referral fees
A dealer,  salesman,  agent or person associated with a dealer,  salesman or agent shall not directly or indirectly solicit or accept remuneration for assisting an attorney in obtaining the representation of any person in any private action arising under this chapter,  the securities act of 1933 (15 United States Code sections 77a through 77bbbb) or the securities exchange act of 1934 (15 United States Code sections 78a through 78ll).
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1998 - Offers and sales; liability

44-1998.
Offers and sales;  liability
A. In any case relating to securities offered or sold within or from this state,  any person who offers or sells a security by means of a prospectus or oral communication that includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements,  in light of the circumstances under which they were made,  not misleading is liable to the purchaser of the security from that person,  as long as the purchaser did not know of the untruth or omission,  as provided by this section. The purchaser may bring an action in any court or administrative forum of competent jurisdiction to recover the consideration paid for the security with interest,  minus the amount of any income received from the security,  on the tender of the security,  or for damages if the purchaser no longer owns the security. The person has the burden of proof that the person did not know and in the exercise of reasonable care could not have known of the untruth or omission. If the person meets the burden of proof,  the person is not liable. This subsection applies notwithstanding any exemption under section 77c of the securities act of 1933 (15 United States Code sections 77a through 77bbbb),  except for an exemption under subsection A,  paragraph 2 of that section,  and notwithstanding any exemption under article 4 or 7 of this chapter,  except for section 44-1843,  subsection A,  paragraph 1.
B. In an action under subsection A of this section,  if the person who offered or sold the security proves that any portion or all of the amount recoverable under subsection A of this section represents an amount other than the depreciation in value of the subject security resulting from the asserted untruth or omission the portion or amount is not recoverable.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1999 - Controlling persons; liability

44-1999.
Controlling persons;  liability
A. Every person who,  by or through stock ownership,  agency or otherwise or who pursuant to or in connection with an agreement or understanding with one or more other persons by or through stock ownership,  agency or otherwise controls any person liable under this article,  other than section 44-1991 or 44-1992,  is liable jointly and severally with and to the same extent as the controlled person to any person to whom the controlled person is liable,  unless the controlling person had no knowledge of or reasonable grounds to believe in the existence of the facts by reason of which the liability of the controlled person is alleged to exist.
B. Every person who,  directly or indirectly,  controls any person liable for a violation of section 44-1991 or 44-1992 is liable jointly and severally with and to the same extent as the controlled person to any person to whom the controlled person is liable unless the controlling person acted in good faith and did not directly or indirectly induce the act underlying the action.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2001 - Voidable sale or contract for sale of securities; remedy

44-2001.
Voidable sale or contract for sale of securities;  remedy
A. A sale or contract for sale of any securities to any purchaser in violation of section 44-1841 or 44-1842 or article 13 of this chapter is voidable at the election of the purchaser,  and the purchaser may bring an action in a court of competent jurisdiction to recover the consideration paid for the securities,  with interest,  taxable court costs and reasonable attorney fees,  less the amount of any income received by dividend or otherwise from ownership of the securities,  on tender of the securities purchased or the contract made,  or for damages if the purchaser no longer owns the securities.
B. A person against whom an action for a violation of section 44-1991 is brought is not liable under subsection A of this section if the person sustains the burden of proof that the person did not know and in the exercise of reasonable care could not have known of the untrue statement or misleading omission.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2002 - Remedy for voidable purchases

44-2002.
Remedy for voidable purchases
A. A purchase or contract for purchase from a seller of securities made in violation of section 44-1842,  44-1991 or 44-1994 is voidable at the election of the seller of the securities,  and the seller may bring an action in a court of competent jurisdiction to recover the amount of the seller's damages,  with interest,  taxable court costs and reasonable attorney fees.
B. A person against whom an action for a violation of section 44-1991 is brought is not liable under subsection A of this section if the person sustains the burden of proof that the person did not know and in the exercise of reasonable care could not have known of the untrue statement or misleading omission.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2004 - Limitation of civil actions

44-2004.
Limitation of civil actions
A. No civil action shall be maintained under this article to enforce any liability based on a violation of section 44-1841 or 44-1842 unless brought within one year after the violation occurs.
B. Except as provided in subsection C of this section,  no civil action shall be brought under this article to enforce any liability based on a violation of article 13 of this chapter unless brought within two years after discovery of the fraudulent practice on which the liability is based,  or after the discovery should have been made by the exercise of reasonable diligence.
C. No civil action shall be brought under this article to enforce any liability based on a violation of section 44-1997 or 44-1998 unless brought within two years after the discovery of the untrue statement or the omission. No action shall be brought to enforce a liability created under section 44-1997 more than five years after a bona fide offer of the security to the public or under section 44-1998 more than five years after the sale of the security.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2011 - Petition for appointment of conservator or receiver

44-2011.
Petition for appointment of conservator or receiver
If an act,  practice or transaction constituting a violation of section 44-1841 or 44-1842 or article 13 of this chapter is alleged in a complaint filed by this state or any agency of this state,  the commission may petition the superior court in Maricopa county for the appointment of a conservator to reorganize the affairs of,  or a receiver to wind up the affairs of,  the violator. The commission may also transmit any evidence it has available concerning the act,  practice or transaction to the attorney general. On receipt of the evidence,  the attorney general may petition the superior court in Maricopa County for the appointment of a conservator to reorganize the affairs of,  or a receiver to wind up the affairs of,  the violator. Process in actions filed pursuant to this section may be served on the defendant in any county in this state in which the defendant transacts business or is found.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2012 - Complaint; contents

44-2012.
Complaint;  contents
A complaint filed in the superior court of Maricopa county for the appointment of a conservator to reorganize,  or a receiver to wind up,  the affairs of a violator of this chapter shall set out the alleged violations with particularity and shall be verified by the director or assistant director of securities.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2013 - Preliminary injunction; appointment of temporary conservator or receiver

44-2013.
Preliminary injunction;  appointment of temporary conservator or receiver
A. The superior court may,  after the complaint is filed,  issue a preliminary injunction restraining the defendant named in the complaint from removing,  encumbering or otherwise disposing of his property located within this state,  and the court may in its discretion appoint a temporary conservator or receiver to take possession of the books,  records and assets of every description of the defendant,  pending further order of the court.
B. The court shall set a time,  not more than ten days from the date of the preliminary injunction,  for a hearing on the complaint and any response filed thereto,  or response to the preliminary injunction.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2014 - Permanent injunction; permanent conservator or receiver

44-2014.
Permanent injunction;  permanent conservator or receiver
A. The complaint,  together with the order of the court setting the time of hearing,  shall be served upon the defendant together with the notice of the time of hearing.
B. The court,  upon the hearing and after hearing the evidence,  may dismiss the complaint or make the preliminary injunction permanent,  restraining the defendant from removing,  encumbering or otherwise disposing of his property,  and may make permanent the order of the temporary appointment of a conservator or receiver.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2015 - Conservator; bond; powers and duties

44-2015.
Conservator;  bond;  powers and duties
A. A temporary or permanent conservator shall be an officer of the court and shall give bond in the amount and conditioned as ordered by the court. The conservator has all the rights,  powers and privileges of a receiver and is subject to the obligations,  penalties and orders of the court to which receivers are subject.
B. In all matters relating to the rights,  powers,  privileges,  obligations and penalties of a conservator,  and the powers of the court in respect thereto,  equitable rights and remedies shall govern when applicable.
C. A conservator appointed under this article shall act at the direction or with the approval of the court in the administration of the properties and affairs of a violator to conserve,  protect and preserve,  or to effect a reorganization of such properties and affairs,  and to do all things necessary in furtherance thereof to protect the rights of persons having a direct interest in the properties and affairs of the violator.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2016 - Duration of appointment of conservator; distributing assets; winding up affairs of violator

44-2016.
Duration of appointment of conservator;  distributing assets;  winding up affairs of violator
A. A permanent conservator shall administer the affairs until,  in the opinion of the court,  the appointment is no longer necessary to conserve,  protect and preserve,  reorganize or further administer the properties and affairs in his possession to protect the rights of all persons in interest. At such time the court shall make a finding to that effect and cause an order to be entered accordingly,  and may direct delivery of all the properties and assets in the possession of the conservator to the persons legally entitled thereto.
B. If it appears to the court at any time that the affairs of the violator are incapable of reorganization or that reorganization is not advisable,  the court shall make a finding to that effect and cause an order to be entered accordingly,  and may provide that the conservator shall thereafter proceed as a receiver for the purpose of winding up the affairs of the violator.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2017 - Compensation of conservators and other personnel

44-2017.
Compensation of conservators and other personnel
A conservator may incur expenses and employ engineers,  accountants,  attorneys or other persons in connection with his duties as the court approves. The compensation of the conservator and personnel appointed shall be fixed by the court and paid from assets in possession of the conservator.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2031 - Jurisdiction and venue of offenses and actions; joinder of spouse

44-2031.
Jurisdiction and venue of offenses and actions;  joinder of spouse
A. The superior court in this state shall have jurisdiction over violations of this chapter,  the rules and orders of the commission under this chapter and all actions brought to enforce any liability or duty created under this chapter,  except actions or proceedings brought under section 44-2032,  paragraph 2,  3 or 4 or appeals filed under article 12 of this chapter,  over which the superior court in Maricopa county shall have exclusive jurisdiction.
B. Any action authorized by this chapter may be brought in the county in which the defendant is found,  is an inhabitant or transacts business,  or in the county where the transaction took place,  and in such cases,  process may be served in any other county in which the defendant is an inhabitant or in which the defendant is found.
C. The commission may join the spouse in any action authorized by this chapter to determine the liability of the marital community. This subsection does not authorize the commission to join any individual who is divorced from the defendant at the time an action authorized by this chapter is filed.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2033 - Burden of proof of exemptions

44-2033.
Burden of proof of exemptions
In any action,  civil or criminal,  when a defense is based upon any exemption provided for in this chapter,  the burden of proving the existence of the exemption shall be upon the party raising the defense,  and it shall not be necessary to negative the exemption in any petition,  complaint,  information or indictment,  laid or brought in any proceeding under this chapter.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2034 - Evidence of registration or notice filing; lack of registration or notice filing

44-2034.
Evidence of registration or notice filing;  lack of registration or notice filing
A certificate signed by the chairman or a member of the commission or by the director and under seal of the commission showing that a notice filing has or has not been filed pursuant to article 4 of this chapter or chapter 13,  article 12 of this title or that securities have or have not been registered by description as provided in article 6 of this chapter or registered by qualification as provided by article 7 of this chapter,  or that a dealer or salesman has or has not been registered as provided in article 9 of this chapter,  shall constitute evidence of the facts so certified and shall be admissible in evidence in any civil or criminal action or proceeding in which the question of such notice filing or registration may be at issue.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2035 - Evidence of record of proceedings

44-2035.
Evidence of record of proceedings
A certificate signed by the chairman or any member of the commission or by the director,  and under seal of the commission,  in regard to the record of any proceeding under this chapter for denial,  revocation or suspension of the registration of securities or the registration of any dealer or salesman shall constitute evidence of such record and shall be admissible in any proceeding,  civil or criminal,  in which such record may be at issue.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2036 - Administrative penalty

44-2036.
Administrative penalty
A. A person who,  in an administrative action,  is found to have violated any provision of this chapter or any rule or order of the commission may be assessed an administrative penalty by the commission,  after a hearing,  in an amount of not to exceed five thousand dollars for each violation.
B. Any penalties collected pursuant to this section shall be deposited,  pursuant to sections 35-146 and 35-147,  in the state general fund.
C. If judicial review has not been sought under title 12,  chapter 7,  article 6,  a certified copy of any commission order requiring the payment of restitution or administrative penalties may be filed in the office of the clerk of the superior court in any county of this state. The clerk shall treat the commission order in the same manner as a judgment of the superior court. A commission order so filed has the same effect as a judgment of the superior court and may be recorded,  enforced or satisfied in like manner. No filing fee is required under this section.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2037 - Civil penalties

44-2037.
Civil penalties
A. A person who,  in a civil proceeding,  is found to have violated any provision of this chapter or any rule or order of the commission shall pay a civil penalty in an amount of not to exceed five thousand dollars for each violation.
B. The commission,  or the attorney general at the commission's request,  may bring an action in Maricopa county in the same manner as the filing of other such actions. On the finding of a violation of this chapter or any rule or order of the commission by the defendant in any such action,  the court may impose the civil penalty provided by this section in an amount it deems appropriate for each such violation. Nothing in this section shall be construed to limit the right of a party in an action under this section to a trial by jury.
C. If an administrative penalty has been imposed pursuant to section 44-2036 for violation of the same provision,  rule or order arising out of the same circumstances and has been paid by the person against whom the civil penalty is imposed,  the court shall reduce the civil penalty by the amount of the administrative penalty paid.
D. A person who violates any order or injunction issued by a court of competent jurisdiction pursuant to this chapter,  in addition to any other penalty or remedy for contempt of court,  shall pay to this state a civil penalty of not more than twenty thousand dollars for each violation as the court deems just and proper. For the purpose of this section,  the superior court issuing any order or injunction shall retain jurisdiction and the cause shall be continued. The commission or the attorney general acting in the name of this state may petition for recovery of civil penalties pursuant to this section.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2038 - Costs recoverable

44-2038.
Costs recoverable
In an action brought under the provisions of this article,  the commission or the attorney general is entitled to recover costs,  which in the discretion of the court may include an amount representing reasonable attorney fees and investigative expenses for the services rendered,  for the use of this state.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2039 - Securities regulatory and enforcement fund; purpose

44-2039.
Securities regulatory and enforcement fund;  purpose
A. The securities regulatory and enforcement fund is established and shall be administered by the commission under the conditions and for the purposes provided by this section. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing.
B. Fees collected pursuant to section 44-1861,  subsections A,  D and P and section 44-3324 shall be deposited,  pursuant to sections 35-146 and 35-147,  in the securities regulatory and enforcement fund,  except as provided in subsection D of this section and except that all other revenues collected in each fiscal year in excess of the amount appropriated from the fund by the legislature shall be deposited in the state general fund.
C. Monies in the fund are subject to legislative appropriation. The commission shall use the monies in the fund for education and regulatory,  investigative and enforcement operations in the securities division and a part of general administrative and hearing expenses of the commission.
D. On February 1 and June 30 of each year,  monies deposited in the securities regulatory and enforcement fund pursuant to section 44-3324 are transferred to the state general fund.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2041 - Continuance of prior law for certain purposes

44-2041.
Continuance of prior law for certain purposes
A. All laws which were repealed by Laws 1951,  chapter 18,  section 25,  shall remain in force for the prosecution and punishment of any person who,  prior to June 17,  1951,  committed an offense contrary to the provisions of any law in force at the time the offense was committed,  and such person may be prosecuted and punished under the law as it existed when the violation occurred.
B. Sales,  contracts or agreements made prior to June 17,  1951,  and all rights and liabilities of the parties thereto,  shall continue as provided by the law as it existed at the time such sales,  contracts or agreements were made. All laws or parts thereof repealed by Laws 1951,  chapter 18,  section 25,  shall remain in force for the enforcement of such rights and liabilities.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2042 - Confidentiality

44-2042.
Confidentiality
A. The names of complainants and all information or documents obtained by any officer,  employee or agent of the commission,  including the shorthand reporter or stenographer transcribing the reporter's notes,  in the course of any examination or investigation are confidential unless the names,  information or documents are made a matter of public record. An officer,  employee or agent of the commission shall not make the confidential names,  information or documents available to anyone other than a member of the commission,  another officer or employee of the commission,  an agent who is designated by the commission or director,  the attorney general or law enforcement or regulatory officials,  except pursuant to any rule of the commission or unless the commission or the director authorizes the disclosure of the names,  information or documents as not contrary to the public interest.
B. The commission shall not disclose the home address,  home telephone number and social security number of a salesman unless the commission or the director authorizes the disclosure of the information as not contrary to the public interest.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2051 - Advancement of economic development and capital formation

44-2051.
Advancement of economic development and capital formation
In order to foster the economic development of this state,  the commission,  when acting pursuant to this chapter,  shall consider measures,  consistent with investor protection,  to increase the availability of and access to capital by companies in this state,  to lower the cost of such capital and to foster the development in this state of a diverse financial services industry providing a full range of financial services,  including efficient capital markets.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2053 - Limitation on liability

44-2053.
Limitation on liability
Neither the state nor any political subdivision,  nor the commission,  the Arizona commerce authority,  nor any state officer,  agent or employee acting in good faith,  except as otherwise explicitly provided by statute,  shall be liable for any injury or damage to investors,  exchange members,  their subsidiaries,  affiliates or employees or the general public resulting from any actual or opportunity losses suffered through the activities of the securities exchange. For these purposes,  the term " activities"  is to be construed as any actual and anticipated exchange matter.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2055 - Securities public reference rooms

44-2055.
Securities public reference rooms
In order to make information about Arizona public companies more available to investors,  dealers,  securities analysts,  financial journalists and other interested persons,  the commission shall establish in this state one or more public reference rooms that provide access to public information about publicly traded companies whose corporate headquarters or principal place of business is in this state or that are listed on an Arizona exchange.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-2056 - Free trade

44-2056.
Free trade
In order to enhance and enlarge the capital markets for companies in this state,  the commission may negotiate formal or informal agreements with the administrators of the securities laws of other states,  especially in the western United States,  Canada and Mexico,  and,  as deemed appropriate by the commission,  with the North American securities administrators association with the intention of reducing the regulatory burden and expense of registering public securities offerings in multiple states,  Canada and Mexico.