reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 2. Exemptions From Registration of Securities › 23-19-2-4. Denial, Suspension, Revocation, Condition, or Limitation of Exemptions; Knowledge of Order

Sec. 4. (a) Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this article may deny, suspend application of, condition, limit, or revoke an exemption created under section 1(3)(C), (1)(7), 1(8), or 2 of this chapter or an exemption or waiver created under section 3 of this chapter with respect to a specific security, transaction, or offer. An order under this section may be issued only under the procedures in IC 23-19-3-6(d) or IC 23-19-6-4 and only prospectively.
(b) A person does not violate IC 23-19-3-1, IC 23-19-3-3 through IC 23-19-3-6, IC 23-19-5-4, or IC 23-19-5-10 by an offer to sell, offer to purchase, sale, or purchase effected after the entry of an order issued under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 2. Exemptions From Registration of Securities › 23-19-2-5. Emergency Rules

Sec. 5. The commissioner may adopt emergency rules in the manner provided under IC 4-22-2-37.1 to implement this chapter.
As added by P.L.106-2014, SEC.5.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 3. Registration of Securities and Notice Filing of Federal Covered Securities › 23-19-3-1. Unlawful Acts

Sec. 1. It is unlawful for a person to offer or sell a security in this state unless:
(1) the security is a federal covered security;
(2) the security, transaction, or offer is exempted from registration under IC 23-19-2-1 through IC 23-19-2-3; or
(3) the security is registered under this article.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 3. Registration of Securities and Notice Filing of Federal Covered Securities › 23-19-3-2. Registration of Securities and Notice Filing of Federal Covered Securities—federal Covered Securities; Filing and Fee Requirements; Renewal of Notice; Failure to Comply With Notice or Fee Requirement; Stop Order

Sec. 2. (a) With respect to a federal covered security, as defined in Section 18(b)(2) of the Securities Act of 1933 (15 U.S.C. 77r(b)(2)), that is not otherwise exempt under IC 23-19-2-1 through IC 23-19-2-3, a rule adopted or order issued under this article may require the filing of any or all of the following records:
(1) Before the initial offer of a federal covered security in this state, all records that are part of a federal registration statement filed with the Securities and Exchange Commission under the Securities Act of 1933 and a consent to service of process complying with IC 23-19-6-11 signed by the issuer and the payment of a fee as set forth in subsection (c).
(2) After the initial offer of the federal covered security in this state, all records that are part of an amendment to a federal registration statement filed with the Securities and Exchange Commission, under the Securities Act of 1933.
(b) A notice filing under subsection (a) is effective for one (1) year commencing on the later of the notice filing or the effectiveness of the offering filed with the Securities and Exchange Commission. On or before expiration, the issuer may renew a notice filing by filing a copy of those records filed by the issuer with the Securities and Exchange Commission that are required by rule or order under this article to be filed and by paying a renewal fee as set forth in subsection (c). A previously filed consent to service of process complying with IC 23-19-6-11 may be incorporated by reference in a renewal. A renewed notice filing becomes effective upon the expiration of the filing being renewed.
(c) At the time of the filing of the information prescribed in subsection (a) or (b), the issuer shall pay to the commissioner a fee of nine hundred dollars ($900). If the notice filing is withdrawn or otherwise terminated, the commissioner shall retain the fee.
(d) Except for a federal security under Section 18(b)(1) of the Securities Act of 1933 (15 U.S.C. 77r(b)(1)), if the commissioner finds that there is a failure to comply with a notice or fee requirement of this section, the commissioner may issue a stop order suspending the offer and sale of a federal covered security in this state. If the deficiency is corrected, the stop order is void as of the time of its issuance and no penalty may be imposed by the commissioner.
As added by P.L.27-2007, SEC.23. Amended by P.L.158-2017, SEC.3; P.L.86-2018, SEC.194; P.L.32-2018, SEC.2.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 3. Registration of Securities and Notice Filing of Federal Covered Securities › 23-19-3-7. Waiver or Modification of Requirements

Sec. 7. The commissioner may waive or modify, in whole or in part, any or all of the requirements of sections 2, 3, and 4(b) of this chapter or the requirement of any information or record in a registration statement or in a periodic report filed under section 5(i) of this chapter.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-3. Investment Adviser Registration; Exemptions; Restrictions on Employment or Association

Sec. 3. (a) It is unlawful for a person to transact business in this state as an investment adviser unless the person is registered under this article as an investment adviser or is exempt from registration as an investment adviser under subsection (b).
(b) The following persons are exempt from the registration requirement of subsection (a):
(1) A person without a place of business in this state that is registered under the securities act of the state in which the person has its principal place of business if its only clients in this state are:
(A) federal covered investment advisers, investment advisers registered under this article, or broker-dealers registered under this article;
(B) institutional investors;
(C) bona fide preexisting clients whose principal places of residence are not in this state if the investment adviser is registered under the securities act of the state in which the clients maintain principal places of residence; or
(D) any other client exempted by rule adopted or order issued under this article.
(2) A person without a place of business in this state if the person has had, during the preceding twelve (12) months, not more than five (5) clients that are resident in this state in addition to those specified under subdivision (1).
(3) Any other person exempted by rule adopted or order issued under this article.
(c) It is unlawful for an investment adviser, directly or indirectly, to employ or associate with an individual to engage in an activity related to investment advice in this state if the registration of the individual is suspended or revoked or the individual is barred from employment or association with an investment adviser, federal covered investment adviser, or broker-dealer by an order under this article, the Securities and Exchange Commission, or a self-regulatory organization, unless the investment adviser did not know, and in the exercise of reasonable care could not have known, of the suspension, revocation, or bar. Upon request from the investment adviser and for good cause, the commissioner, by order, may waive, in whole or in part, the application of the prohibitions of this subsection to the investment adviser.
(d) It is unlawful for an investment adviser to employ or associate with an individual required to be registered under this article as an investment adviser representative who transacts business in this state on behalf of the investment adviser unless the individual is registered under section 4(a) of this chapter or is exempt from registration under section 4(b) of this chapter.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-5. Federal Covered Investment Adviser Requirements; Exemptions; Filing

Sec. 5. (a) Except with respect to a federal covered investment adviser described in subsection (b), it is unlawful for a federal covered investment adviser to transact business in this state as a federal covered investment adviser unless the federal covered investment adviser complies with subsection (c).
(b) The following federal covered investment advisers are not required to comply with subsection (c):
(1) A federal covered investment adviser without a place of business in this state if its only clients in this state are:
(A) federal covered investment advisers, investment advisers registered under this article, and broker-dealers registered under this article;
(B) institutional investors;
(C) bona fide preexisting clients whose principal places of residence are not in this state; or
(D) other clients specified by rule adopted or order issued under this article.
(2) A federal covered investment adviser without a place of business in this state if the person has had, during the preceding twelve (12) months, not more than five (5) clients that are resident in this state in addition to those specified under subdivision (1).
(3) Any other person excluded by rule adopted or order issued under this article.
(c) A person acting as a federal covered investment adviser, not excluded under subsection (b), shall file a notice, a consent to service of process complying with IC 23-19-6-11, and such records as have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940 required by rule adopted or order issued under this article and pay the fees specified in section 10(e) of this chapter.
(d) The notice under subsection (c) becomes effective upon its filing.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-7. Succession; Organization Change; Name Change; Change of Control

Sec. 7. (a) A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of an investment adviser or notice filing of another federal covered investment adviser, by filing as a successor an application for registration under section 1 or 3 of this chapter or a notice under section 5 of this chapter for the unexpired portion of the current registration or notice filing.
(b) A broker-dealer or investment adviser that changes its form of organization or state of incorporation or organization may continue its registration by filing an amendment to its registration if the change does not involve a material change in its financial condition or management. The amendment becomes effective when filed or on a date designated by the registrant in its filing. The new organization is a successor to the original registrant for the purposes of this article. If there is a material change in financial condition or management, the broker-dealer or investment adviser shall file a new application for registration. A predecessor registered under this article shall stop conducting its securities business other than winding down transactions and shall file for withdrawal of broker-dealer or investment adviser registration within forty-five (45) days after filing its amendment to effect succession.
(c) A broker-dealer or investment adviser that changes its name may continue its registration by filing an amendment to its registration. The amendment becomes effective when filed or on a date designated by the registrant.
(d) A change of control of a broker-dealer or investment adviser may be made in accordance with a rule adopted or order issued under this article.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-9. Withdrawal of Registration

Sec. 9. Withdrawal of registration by a broker-dealer, agent, investment adviser, or investment adviser representative becomes effective sixty (60) days after the filing of the application to withdraw or within any shorter period as provided by rule adopted or order issued under this article unless a revocation or suspension proceeding is pending when the application is filed. If a proceeding is pending, withdrawal becomes effective when and upon such conditions as required by rule adopted or order issued under this article. The commissioner may institute a revocation or suspension proceeding under section 12 of this chapter within one (1) year after the withdrawal became effective automatically and issue a revocation or suspension order as of the last date on which registration was effective if a proceeding is not pending.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-10. Fees; Transmittal of Fee; Exception

Sec. 10. (a) A person shall pay a fee of two hundred fifty dollars ($250) when initially filing an application for registration as a broker-dealer and a fee of one hundred twenty-five dollars ($125) when filing a renewal of registration as a broker-dealer. If the filing results in a denial or withdrawal, the commissioner shall retain all of the fee.
(b) The fee for an individual is twenty-five dollars ($25) when filing an application for registration as an agent, a fee of twenty-five dollars ($25) when filing a renewal of registration as an agent, and a fee of twenty-five dollars ($25) when filing for a change of registration as an agent. If the filing results in a denial or withdrawal, the commissioner shall retain all of the fee.
(c) A person shall pay a fee of one hundred dollars ($100) when filing an application for registration as an investment adviser and a fee of fifty dollars ($50) when filing a renewal of registration as an investment adviser. If the filing results in a denial or withdrawal, the commissioner shall retain all of the fee.
(d) The fee for an individual is twenty-five dollars ($25) when filing an application for registration as an investment adviser representative, a fee of twenty-five dollars ($25) when filing a renewal of registration as an investment adviser representative, and a fee of twenty-five dollars ($25) when filing a change of registration as an investment adviser representative. If the filing results in a denial or withdrawal, the commissioner shall retain all of the fee.
(e) A federal covered investment adviser required to file a notice under section 5 of this chapter shall pay an initial fee of fifty dollars ($50) and an annual notice fee of fifty dollars ($50).
(f) A person required to pay a filing or notice fee under this section may transmit the fee through or to a designee as a rule or order provides under this article.
(g) An investment adviser representative who is registered as an agent under section 2 of this chapter and who represents a person that is both registered as a broker-dealer under section 1 of this chapter and registered as an investment adviser under section 3 of this chapter or required as a federal covered investment adviser to make a notice filing under section 5 of this chapter is not required to pay an initial or annual registration fee for registration as an investment adviser representative.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers › 23-19-4-11.5. Prohibit Selection of Broker-Dealer for Completion of Compliance Report in Consecutive Years; Prohibit Selection of Certain Offices

Sec. 11.5. (a) As used in this section, "office of supervisory jurisdiction" has the meaning set forth in the National Association of Securities Dealers Conduct Rule 3010(g) (as in effect on January 1, 2009).
(b) A broker-dealer registered or required to be registered under this article may not be selected for completion of a compliance report under section 11(i) of this chapter in consecutive years unless the commissioner has reason to believe that the broker-dealer has committed a violation of this article.
(c) The commissioner may not select for completion of a compliance report under section 11(i) of this chapter any office that:
(1) reports to an office of supervisory jurisdiction located within Indiana;
(2) reflects the address of the office of supervisory jurisdiction described in subdivision (1) on all of the office's business cards, stationery, advertisements, and other communications to the public; and
(3) is included in the definition of branch office under the National Association of Securities Dealers Conduct Rule 3010(g) because the office:
(A) handles funds or securities as described under the National Association of Securities Dealers Conduct Rule 3010(g)(2)(A)(ii)(c); or
(B) uses the residential address on all business cards, stationery, advertisements, or other communications to the public under the National Association of Securities Dealers Conduct Rule 3010(g)(2)(A)(ii)(d).
As added by P.L.149-2009, SEC.2.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-1. "Financial Exploitation"

Sec. 1. As used in this chapter, "financial exploitation" means the wrongful or unauthorized taking, withholding, appropriation, or use of money, real property, or personal property of a financially vulnerable adult.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.5.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-2.1. "Financially Vulnerable Adult"

Sec. 2.1. As used in this chapter, "financially vulnerable adult" means an individual to whom one (1) or more of the following apply:
(1) The individual is at least sixty-five (65) years of age.
(2) The individual is:
(A) at least eighteen (18) years of age; and
(B) incapable, by reason of:
(i) mental illness;
(ii) intellectual disability;
(iii) dementia; or
(iv) other physical or mental incapacity;
of managing or directing the management of the individual's property.
As added by P.L.158-2017, SEC.7.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-3. "Immediate Family Member"

Sec. 3. As used in this chapter, "immediate family member" means a spouse, child, parent, or sibling.
As added by P.L.39-2016, SEC.1.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-4. "Protective Agencies"

Sec. 4. As used in this chapter, "protective agencies" refers to both of the following:
(1) The adult protective services unit described in IC 12-10-3-1.
(2) The commissioner.
As added by P.L.39-2016, SEC.1.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-5. "Qualified Individual"

Sec. 5. As used in this chapter, "qualified individual" means an individual associated with a broker-dealer or investment adviser who serves in a supervisory, compliance, or legal capacity as part of the individual's job.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.8.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-6. Suspected Financial Exploitation of Financially Vulnerable Adult; Duty of Qualified Individual to Report and Notify Commissioner; Authorized Additional Notifications

Sec. 6. (a) If a qualified individual has reason to believe that financial exploitation of a financially vulnerable adult has occurred, has been attempted, or is being attempted, the qualified individual shall, as required by IC 12-10-3-9(a):
(1) make a report to an entity listed in IC 12-10-3-10(a); and
(2) notify the commissioner.
(b) After a qualified individual makes a report and provides notification under subsection (a), the qualified individual may, to the extent permitted under federal law, notify any of the following concerning the qualified individual's belief:
(1) An immediate family member of the financially vulnerable adult.
(2) A legal guardian of the financially vulnerable adult.
(3) A conservator of the financially vulnerable adult.
(4) A trustee, cotrustee, or successor trustee of the account of the financially vulnerable adult.
(5) An agent under a power of attorney of the financially vulnerable adult.
(6) Any other person permitted under existing laws, rules, regulations, or customer agreement.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.9.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-8. Immunity for Broker-Dealers, Investment Advisers, and Qualified Individuals; Authority of Commissioner to Access Books and Records Not Impeded

Sec. 8. Notwithstanding any other provision of law, a broker-dealer, investment adviser, or a qualified individual who, in good faith, complies with section 6 or 7 of this chapter, is immune from any administrative or civil liability for actions taken in accordance with those sections. A broker-dealer, investment adviser, or qualified individual who, in good faith, releases or does not release copies of records under section 9 of this chapter is immune from any civil liability for release of such records or failing to release such records. This chapter does not limit or otherwise impede the authority of the commissioner to access or examine books and records of broker-dealers or investment advisers as otherwise provided by law.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.11.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-9. Authority of Broker-Dealers and Investment Advisers to Provide Relevant Records to Protective Agencies or Law Enforcement; Records Confidential

Sec. 9. (a) A broker-dealer or investment adviser may provide to protective agencies or law enforcement access to or copies of records that are relevant to the suspected financial exploitation of a financially vulnerable adult. The records may include records relating to:
(1) disbursement of any funds from an account of the financially vulnerable adult; and
(2) disbursements of funds that comprise the suspected financial exploitation of a financially vulnerable adult.
(b) All records made available to the protective agencies under this section are confidential under IC 5-14-3.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.12.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-10. Training Resources for Broker-Dealers, Investment Advisers, and Qualified Individuals; Availability on Secretary of State's Web Site

Sec. 10. Not later than September 1, 2017, the commissioner shall develop and make available on the secretary of state's Internet web site information that includes training resources to assist broker-dealers, investment advisers, and qualified individuals in the prevention and detection of financial exploitation of financially vulnerable adults. The training resources must include information on:
(1) indicators of financial exploitation of financially vulnerable adults; and
(2) the potential steps broker-dealers, investment advisers, and qualified individuals can take, under Indiana law, to prevent suspected financial exploitation of financially vulnerable adults.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.13.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 4.1. Financially Vulnerable Adult › 23-19-4.1-11. Commissioner's Authority to Adopt Rules

Sec. 11. The commissioner may adopt rules under IC 23-19-6-5 to implement this chapter.
As added by P.L.39-2016, SEC.1.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-1. Fraudulent or Deceitful Acts

Sec. 1. It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:
(1) to employ a device, scheme, or artifice to defraud;
(2) to make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which they were made, not misleading; or
(3) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-2. Unlawful Practices; Investment Advisers and Investment Adviser Representatives; Investment Advisory Contract

Sec. 2. (a) It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as part of a regular business, issues or promulgates analyses or reports relating to securities, or that receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice:
(1) to employ a device, scheme, or artifice to defraud another person; or
(2) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.
(b) A rule adopted under this article may define an act, practice, or course of business of an investment adviser or an investment adviser representative, other than a supervised person of a federal covered investment adviser, as fraudulent, deceptive, or manipulative, and prescribe means reasonably designed to prevent investment advisers and investment adviser representatives, other than supervised persons of a federal covered investment adviser, from engaging in acts, practices, and courses of business defined as fraudulent, deceptive, or manipulative.
(c) A rule adopted under this article may specify the contents of an investment advisory contract entered into, extended, or renewed by an investment adviser.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-3. Evidentiary Burden

Sec. 3. (a) In a civil action or administrative proceeding under this article, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim.
(b) In a criminal proceeding under this article, a person claiming an exemption, exception, preemption, or exclusion has the burden of going forward with evidence of the claim.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-4. Sales and Advertising Literature Filing

Sec. 4. (a) Except as otherwise provided in subsection (b), a rule adopted or order issued under this article may require the filing of a prospectus, a pamphlet, a circular, a form letter, an advertisement, sales literature, or other advertising record relating to a security or investment advice, addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this article.
(b) This section does not apply to sales and advertising literature specified in subsection (a) that relates to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by IC 23-19-2-1, IC 23-19-2-2, or IC 23-19-2-3 except as required under IC 23-19-2-1(7).
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-5. Filing False or Misleading Statements

Sec. 5. It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed under this article, a statement that, at the time and in the light of the circumstances under which it is made, is false or misleading in a material respect, or, in connection with the statement, to omit to state a material fact necessary to make the statement made, in the light of the circumstances under which it was made, not false or misleading.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-6. Filings Related to Fact of Registration; Unlawful Act

Sec. 6. The filing of an application for registration, a registration statement, a notice filing under this article, the registration of a person, the notice filing by a person, or the registration of a security under this article does not constitute a finding by the commissioner that a record filed under this article is true, complete, and not misleading. The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the commissioner has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction. It is unlawful to make, or cause to be made, to a purchaser, customer, client, or prospective purchaser, customer, or client a representation inconsistent with this section.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-7. Qualified Immunity

Sec. 7. A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the commissioner or designee of the commissioner, the Securities and Exchange Commission, or a self-regulatory organization, unless the person knew, or should have known at the time that the statement was made, that it was false in a material respect or the person acted in reckless disregard of the statement's truth or falsity.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-8. Violations; Felony; Assistance in Prosecution

Sec. 8. (a) A person who knowingly violates this article, or a rule adopted under this article, commits a Level 5 felony. However, this subsection does not apply to a violation of the following:
(1) The notice filing requirements of IC 23-19-3-2 or IC 23-19-4-5.
(2) IC 23-19-4-13.
(3) Sections 4 and 11 of this chapter.
(b) A person who knowingly violates section 1 of this chapter commits a Level 4 felony if the person harmed, defrauded, misled, or deceived by the violation is at least sixty (60) years of age.
(c) A person who knowingly violates section 1 of this chapter:
(1) while using or taking advantage of; or
(2) in connection with;
a relationship that is based on religious affiliation or worship commits a Level 4 felony.
(d) It is the duty of a prosecuting attorney, as well as of the attorney general, to assist the commissioner upon the commissioner's request in the prosecution to final judgment of a violation of the penal provisions of this article. If the commissioner determines that an action based on the securities division's investigations is meritorious:
(1) the commissioner or a designee empowered by the commissioner shall refer the facts drawn from the investigation to the prosecuting attorney of the judicial circuit in which the crime may have been committed;
(2) the commissioner and the securities division shall assist the prosecuting attorney in prosecuting an action under this section, which may include a securities division attorney serving as a special deputy prosecutor appointed by the prosecuting attorney;
(3) a prosecuting attorney to whom facts concerning fraud are referred under subdivision (1) may refer the matter to the attorney general;
(4) if a matter has been referred to the attorney general under subdivision (3), the attorney general may:
(A) file an information in a court with jurisdiction over the matter in the county in which the offense is alleged to have been committed; and
(B) prosecute the alleged offense; and
(5) if a matter has been referred to the attorney general under subdivision (3), the commissioner and the securities division shall assist the attorney general in prosecuting an action under this section, which may include a securities division attorney serving as a special deputy attorney general appointed by the attorney general.
(e) This article does not limit the power of this state to punish a person for conduct that constitutes a crime under other laws of this state.
As added by P.L.27-2007, SEC.23. Amended by P.L.156-2009, SEC.23; P.L.146-2013, SEC.2; P.L.158-2013, SEC.267; P.L.168-2014, SEC.34; P.L.158-2022, SEC.7.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 5. Fraud and Liabilities › 23-19-5-11. Violation of Agreement

Sec. 11. (a) It is unlawful for a person to violate any agreement that is:
(1) entered into between the securities division and the person; and
(2) ordered by the commissioner under this article.
(b) A person is not liable under section 9(a) or 9(b) of this chapter for a violation of this section.
As added by P.L.146-2013, SEC.4.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 6. Administration and Judicial Review › 23-19-6-3. Violations; Injunctions; Other Remedies

Sec. 3. (a) If the commissioner believes that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this article or a rule adopted or order issued under this article or that a person has, is, or is about to engage in an act, practice, or course of business that materially aids a violation of this article or a rule adopted or order issued under this article, the commissioner may maintain an action in the circuit or superior court in the county where the investigation or inquiry in question is being conducted to enjoin the act, practice, or course of business and to enforce compliance with this article or a rule adopted or order issued under this article.
(b) In an action under this section and on a proper showing, the court may:
(1) issue a permanent or temporary injunction, restraining order, or declaratory judgment;
(2) order other appropriate or ancillary relief, which may include:
(A) an asset freeze, accounting, writ of attachment, writ of general or specific execution, and appointment of a receiver or conservator;
(B) ordering a receiver or conservator appointed under clause (A) to take charge and control of a respondent's property, including investment accounts and accounts in a depository institution, rents, and profits; to collect debts; and to acquire and dispose of property;
(C) imposing a civil penalty up to ten thousand dollars ($10,000) per violation and an order of rescission, restitution, or disgorgement directed to a person that has engaged in an act, practice, or course of business constituting a violation of this article or the predecessor act or a rule adopted or order issued under this article or the predecessor act; and
(D) ordering the payment of prejudgment and postjudgment interest; or
(3) order such other relief as the court considers appropriate.
(c) The commissioner may not be required to post a bond in an action or proceeding under this article.
(d) Penalties collected under this section shall be deposited in the securities division enforcement account established under section 1 of this chapter.
As added by P.L.27-2007, SEC.23.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 6. Administration and Judicial Review › 23-19-6-5. Rules, Forms, and Orders; Financial Statements; Interpretive Opinions and Determinations; Good Faith Conduct; Public Hearings

Sec. 5. (a) The commissioner may:
(1) issue forms and orders and, after notice and comment, may adopt and amend rules necessary or appropriate to carry out this article and may repeal rules, including rules and forms governing registration statements, applications, notice filings, reports, and other records;
(2) by rule, define terms, whether or not used in this article, but those definitions may not be inconsistent with this article; and
(3) by rule, classify securities, persons, and transactions and adopt different requirements for different classes.
(b) Under this article, a rule or form may not be adopted or amended, or an order issued or amended, unless the commissioner finds that the rule, form, order, or amendment is necessary or appropriate in the public interest or for the protection of investors and is consistent with the purposes intended by this article.
(c) Subject to Section 15(h) of the Securities Exchange Act of 1938 (15 U.S.C. 78o(h)) and Section 222 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-18a), the commissioner may require that a financial statement filed under this article be prepared in accordance with generally accepted accounting principles in the United States and comply with other requirements specified by rule adopted or order issued under this article. A rule adopted or order issued under this article may establish:
(1) subject to Section 15(h) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(h)) and Section 222 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-18a), the form and content of financial statements required under this article;
(2) whether unconsolidated financial statements must be filed; and
(3) whether required financial statements must be audited by an independent certified public accountant.
(d) The commissioner may provide interpretive opinions or issue determinations that the commissioner will not institute a proceeding or an action under this article against a specified person for engaging in a specified act, practice, or course of business if the determination is consistent with this article. The commissioner shall charge a fee of one hundred dollars ($100) for an interpretive opinion or determination.
(e) A penalty under this article may not be imposed for, and liability does not arise from, conduct that is engaged in or omitted in good faith and reasonably believed to be conforming to a rule, form, or order of the commissioner under this article.
(f) A hearing in an administrative proceeding under this article must be conducted in public unless the commissioner finds a statutory basis that would allow the hearing to be closed to the public.
As added by P.L.27-2007, SEC.23. Amended by P.L.230-2007, SEC.19; P.L.3-2008, SEC.172; P.L.152-2020, SEC.8.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 6. Administration and Judicial Review › 23-19-6-6. Register of Filings; Availability to Public; Reasonable Charge for Furnishing Copy

Sec. 6. (a) The commissioner shall maintain, or designate a person to maintain, a register of applications for registration of securities; registration statements; notice filings; applications for registration of broker-dealers, agents, investment advisers, and investment adviser representatives; notice filings by federal covered investment advisers that are or have been effective under this article or the predecessor act; notices of claims of exemption from registration or notice filing requirements contained in a record; orders issued under this article or the predecessor act; and interpretive opinions or no-action determinations issued under this article.
(b) The commissioner shall make all rules, forms, interpretive opinions, and orders available to the public.
(c) The commissioner shall furnish a copy of a record that is a public record, or a certification that the public record does not exist, to a person that so requests. A rule adopted under this article may establish a reasonable charge for furnishing the record or certification. A copy of the record certified or a certificate by the commissioner of a record's nonexistence is prima facie evidence of a record or its nonexistence.
As added by P.L.27-2007, SEC.23. Amended by P.L.152-2020, SEC.9.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 6. Administration and Judicial Review › 23-19-6-7. Public Records; Inspection and Copying; Confidential Records

Sec. 7. (a) Except as otherwise provided in subsection (b), records obtained by the commissioner or filed under this article, including a record contained in or filed with a registration statement, application, notice filing, or report, are public records and are available for inspection and copying.
(b) The following records are confidential and are not available for public inspection and copying under subsection (a):
(1) A record obtained by the commissioner in connection with an audit or inspection under IC 23-19-4-11(d) or an investigation under section 2 of this chapter.
(2) A part of a record filed in connection with a registration statement under IC 23-19-3-1 and IC 23-19-3-3 through IC 23-19-3-5 or a record under IC 23-19-4-11(d) that contains trade secrets or confidential information if the person filing the registration statement or report has asserted a claim of confidentiality or privilege that is authorized by law and approved by the commissioner.
(3) A record that is not required to be provided to the commissioner or filed under this article and is provided to the commissioner only on the condition that the record will not be subject to public examination or disclosure.
(4) Confidential records received from a person specified in section 8(a) of this chapter.
(5) Any Social Security number, residential address unless used as a business address, and residential telephone number unless used as a business telephone number, contained in a record that is filed.
(6) A record obtained by the commissioner through a designee of the commissioner that a rule or order under this article determines has been:
(A) expunged from the commissioner's records by the designee; or
(B) determined to be confidential by that designee if the commissioner finds the determination to be based on statutory authority.
(c) If disclosure is for the purpose of a civil, administrative, or criminal investigation, action, or proceeding or to a person specified in section 8(a) of this chapter, the commissioner may disclose a record obtained in connection with an audit or inspection under IC 23-19-4-11(d) or a record obtained in connection with an investigation under section 2 of this chapter.
As added by P.L.27-2007, SEC.23. Amended by P.L.230-2007, SEC.20.
2023 Indiana Code › Title 23. Business and Other Associations › Article 19. Indiana Uniform Securities Act › Chapter 6. Administration and Judicial Review › 23-19-6-8. Uniformity Objective; Cooperation With Agencies; Policies

Sec. 8. (a) The commissioner shall, in its discretion, cooperate, coordinate, consult, and, subject to section 7 of this chapter, share records and information with the securities regulator of another state, Canada, a Canadian province or territory, a foreign jurisdiction, the Securities and Exchange Commission, the United States Department of Justice, the Commodity Futures Trading Commission, the Federal Trade Commission, the Securities Investor Protection Corporation, a self-regulatory organization, a national or international organization of securities regulators, a federal or state banking and insurance regulator, or a governmental law enforcement agency to effectuate greater uniformity in securities matters among the federal government, self-regulatory organizations, states, and foreign governments.
(b) In cooperating, coordinating, consulting, and sharing records and information under this section and in acting by rule, order, or waiver under this article, the commissioner shall, in its discretion, take into consideration in carrying out the public interest the following general policies:
(1) Maximizing effectiveness of regulation for the protection of investors.
(2) Maximizing uniformity in federal and state regulatory standards.
(3) Minimizing burdens on the business of capital formation, without adversely affecting essentials of investor protection.
(c) The cooperation, coordination, consultation, and sharing of records and information authorized by this section includes:
(1) establishing or employing one (1) or more designees as a central depository for registration and notice filings under this article and for records required or allowed to be maintained under this article;
(2) developing and maintaining uniform forms;
(3) conducting a joint examination or investigation;
(4) holding a joint administrative hearing;
(5) instituting and prosecuting a joint civil or administrative proceeding;
(6) sharing and exchanging personnel;
(7) coordinating registrations under IC 23-19-3 and IC 23-19-4-1 through IC 23-19-4-4 and exemptions under IC 23-19-2-3;
(8) sharing and exchanging records, subject to section 7 of this chapter;
(9) formulating rules, statements of policy, guidelines, forms, and interpretive opinions and releases;
(10) formulating common systems and procedures;
(11) notifying the public of proposed rules, forms, statements of policy, and guidelines;
(12) attending conferences and other meetings among securities regulators, which may include representatives of governmental and private sector organizations involved in capital formation, considered necessary or appropriate to promote or achieve uniformity; and
(13) developing and maintaining a uniform exemption from registration for small issuers, and taking other steps to reduce the burden of raising investment capital by small businesses.
As added by P.L.27-2007, SEC.23. Amended by P.L.152-2020, SEC.10.