reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-5 - Contract with consumer; right to rescind; duration of contract; particular contracts unenforceable

(1)
A fully completed copy of each contract shall be delivered to the buyer at the time the contract is signed. Every contract must constitute the entire agreement between the seller and the buyer, must be in writing and must be signed by the member.
(2)
Each contract shall state in at least ten-point boldface type the following: NOTICE TO THE BUYER: DO NOT SIGN THIS CONTRACT UNTIL YOU HAVE READ ALL OF IT. ALSO, DO NOT SIGN THIS CONTRACT IF IT CONTAINS ANY BLANK SPACES.
(3)
Every purchaser of a membership shall be entitled to cancel his or her contract within five (5) business days by notifying the health spa in writing by midnight of the fifth business day following the date of purchase of the membership contract. Written notification is deemed given if mailed or delivered by midnight of the fifth business day. All money collected pursuant to the contract shall be refunded to the purchaser exercising the right to cancel.
(4)
Each contract shall contain the following notice in at least ten-point boldface type: IF WITHIN FIVE (5) BUSINESS DAYS YOU DECIDE YOU DO NOT WISH TO REMAIN A MEMBER OF THIS HEALTH SPA, YOU MAY CANCEL THIS AGREEMENT BY MAILING A NOTICE TO THE HEALTH SPA BY MIDNIGHT OF THE FIFTH BUSINESS DAY FOLLOWING YOUR PURCHASE OF THE CONTRACT STATING YOUR DESIRE TO CANCEL THIS CONTRACT. THE WRITTEN NOTICE SHOULD BE MAILED TO THE FOLLOWING ADDRESS: (Insert address of the health spa).
(5)
No health spa contract shall have a duration for a longer period than thirty-six (36) months; provided, however, that no health spa offering any contract for a longer period than twelve (12) months shall be exempt from the provisions of subsection (b) of Section
75-83-3
, the provisions of Section
75-83-15
notwithstanding.
(6)
Every contract for health spa services shall contain a clause providing that if, by reason of death or disability, the person agreeing to receive health spa services is unable to do so, he and his estate shall be relieved of the obligation of making payments for such services other than those received prior to death or the onset of the disability, and that if he has prepaid any sum for health spa services, the unexpired portion shall be promptly refunded to him or his representative.
(7)
Any health spa contract which does not comply with the applicable provisions of this chapter shall be void and unenforceable as contrary to public policy.
(8)
Any health spa contract entered into by the buyer upon any false or misleading information, representation, notice or advertisement of the health spa or the health spa's agent shall be void and unenforceable.
(9)
Any waiver by the buyer of the provisions of this chapter shall be deemed contrary to public policy and shall be void and unenforceable.
Laws, 1985, ch. 496, § 3; Laws, 1994, ch. 461, § 1, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-7 - Comprehensive pricelist available to consumer; registration of pricelist

(1)
Each health spa doing business shall prepare a comprehensive list of all membership plans offered for sale by the health spa and the respective price of each plan. The list shall be shown to each prospective purchaser of a membership plan.
(2)
A health spa is prohibited from selling a membership plan not included in this list and in the registration statement filed with the Attorney General's office; provided, however, that a reduction in the price of a plan shall not constitute a change requiring reregistration of the plan.
Laws, 1985, ch. 496, § 4, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-9 - Misrepresentations; private right of action; punitive damages; attorney's fees

(1)
Health spas shall be prohibited from making any material misrepresentations to current members, prospective members or purchasers of membership contract regarding:
(a)
Qualifications of staff;
(b)
Availability, quality, or extent of facilities or services;
(c)
Results obtained through exercising, dieting or weight control programs;
(d)
Rights of membership; or
(e)
Period of time a discount or special offer will be available.
(2)
Any person who suffers any ascertainable loss of money or property as a result of fraud, dishonesty or a violation of the provisions of this chapter may bring an action in chancery court to recover actual and/or punitive damages. If the court finds that such a violation was committed, the court may award actual and/or punitive damages. In the event the damages are awarded under this section, the court shall award to the person bringing such action reasonable attorney's fees and costs. Upon a finding by the court that an action under this section is groundless and brought in bad faith or for purposes of harassment, the court may award to the defendant reasonable attorney's fees and costs.
Laws, 1985, ch. 496, § 5, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-11 - Relationship to other laws

The remedies in this chapter are in addition to and not in derogation of remedies available under any other provisions of law.
The provisions of this chapter are cumulative, supplemental and not exclusive and do not relieve the parties or the contract subjects thereto from compliance with all other applicable provisions of law.
Laws, 1985, ch. 496, § 6, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-13 - Criminal penalties

Any person who knowingly and willingly violates the provisions of Section
75-83-3
,
75-83-5
or
75-83-9
shall be guilty of a misdemeanor and shall be punished by a fine not exceeding Two Thousand Dollars ($2,000.00) or by imprisonment in the county jail for not more than one (1) year, or both.
Laws, 1985, ch. 496, § 7, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 83 - HEALTH SPAS (§§ 75-83-1 — 75-83-15) › Section 75-83-15 - Exemption from registration requirement

All health spas operating in the State of Mississippi prior to July 1, 1985, and which offer no contracts which have a duration for a period of longer than twelve (12) months, shall be exempt from the provisions of subsection (b) of Section
75-83-3
.
Laws, 1985, ch. 496, § 8, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-1 - Definitions

As used in this chapter, the following terms shall have the following meanings ascribed to them, unless the context clearly indicates otherwise:
(a)
"Transient vendor" means any person who transacts transient business in this state either in one locality or by traveling from place to place in this state. The term includes a vendor who for the purposes of carrying on such business hires, leases, uses or occupies any building, structure, motor vehicle, railroad car or real property.
(b)
"Transient business" means any business conducted for the sale of merchandise or services that is carried on at a particular location for a period of less than six (6) months in each year, even though the owner of such business may conduct the business at another location for more than six (6) months in each year.
(c)
"Person" means an individual, corporation, association, partnership or other entity.
Laws, 1988, ch. 581, § 1; Laws, 1994, ch. 522, § 3, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-3 - Application of chapter

(1)
The provisions of this chapter shall not apply to:
(a)
Civic and nonprofit organizations or wholesale sales to retail merchants by commercial travelers;
(b)
Wholesale trade shows or conventions;
(c)
Sales of goods, wares, services or merchandise by sample, catalogue or brochure for future delivery;
(d)
Fairs and convention center activities conducted primarily for amusement or entertainment;
(e)
Any general sale, fair, circus, auction or bazaar sponsored by a church or religious organization;
(f)
Garage sales held on premises devoted to residential use;
(g)
Sales or repairs of crafts or sales or repairs of items made by hand by the person making the crafts or items;
(h)
Duly licensed flea markets operating from a fixed location;
(i)
Sales of agricultural, dairy, poultry, seafood or forest management products or services related to forest management or silvicultural activities, nursery products, foliage plants or ornamental trees, except such products or services sold at retail and not grown or produced within Mississippi;
(j)
Sales of agricultural services.
(2)
A transient vendor not otherwise exempted from this chapter is not exempted from this chapter because of a temporary association with a local dealer, auctioneer, trader, contractor or merchant, or by conducting the transient business in connection with or in the name of any local dealer, auctioneer, trader, contractor or merchant.
Laws, 1988, ch. 581, § 2; Laws, 1989, ch. 561, § 1; Laws, 1992, ch. 399, § 1; Laws, 1994, ch. 522, § 4, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-5 - License required for transient vendor to transact business

A transient vendor may not transact business in any county or municipality in this state unless the vendor, and the owner of the merchandise or provider of the services to be offered if the merchandise is not owned or the services are not provided by the vendor, has secured a license in accordance with this chapter and otherwise complied with this chapter.
Laws, 1988, ch. 581, § 3, eff. 10/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-7 - Application for license

(1)
A transient vendor who desires to transact business in a county or municipality in this state shall apply for and obtain a license in each county and in each municipality in which the vendor desires to transact business. A license issued by a county authorizes a transient vendor to transact business outside of the municipalities in the county, and a license issued by a municipality authorizes a transient vendor to transact business within the municipality. The license application shall be filed with the county tax collector or municipal tax collector, as the case may be, and must include:
(a)
The name and permanent address of the transient vendor making the application;
(b)
A statement describing the kind of business to be conducted, the length of time for which the applicant desires to transact the business, and the proposed location of the business;
(c)
The name and permanent address of the applicant's registered agent or office; and
(d)
Proof that the applicant has acquired all other required city, county and state permits and licenses. Such proof shall include a Mississippi sales tax number and, if the transient vendor desires to transact business in a municipality, such number shall include such municipality's sales tax diversion code.
(2)
If the applicant is an association or a corporation, the applicant must also include the names and addresses of the members of the association or the officers of the corporation. If the applicant is a corporation, the application must state the date of incorporation and the state in which it was incorporated. If the applicant is a corporation organized under the laws of another state, the applicant must state the date on which the corporation qualified to transact business as a foreign corporation in this state.
Laws, 1988, ch. 581, § 4; Laws, 1994, ch. 522, § 5, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-9 - State tax commission to prepare necessary forms

The State Tax Commission shall prepare uniform forms for license applications, license certificates and license renewals issued under this chapter.
Laws, 1988, ch. 581, § 5, eff. 10/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-11 - Registered agent for transient vendor; tax collector as agent for service of process

(1)
Each applicant for a transient vendor license shall designate a registered agent on the license application. The registered agent must be a resident of the county or municipality for which the license is sought and shall be the agent on whom any process, notice or demand required or permitted by law to be served on the licensee may be served. The registered agent must agree in writing to act as the agent. The license applicant shall file a copy of the agreement with the license application.
(2)
The county tax collector and the municipal tax collector shall maintain an alphabetical list of all transient vendors in the county or municipality, as the case may be, and the names and addresses of their registered agents.
(3)
If a transient vendor who does business in a county or municipality fails to have or to maintain a registered agent in that county or municipality or if the designated registered agent cannot be found at the stated permanent address, the county tax collector or municipal tax collector, as the case may be, is the agent of the transient vendor for service of process, notices or demands. Service on the tax collector is made by delivering to his office duplicate copies of the process, notice or demand. If such a process, notice or demand is served on the tax collector, he shall immediately forward one (1) copy by registered or certified mail to the permanent address of the transient vendor.
(4)
This section does not limit or otherwise affect the right of any person to serve a process, notice or demand in any other manner authorized by law.
Laws, 1988, ch. 581, § 6, eff. 10/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-13 - License fee; bond requirements

(1)
Each applicant for a transient vendor license shall include a license fee set by the governing authority of the county or municipality not to exceed Two Hundred Fifty Dollars ($250.00) with the application, which fee shall be deposited in the general fund of the county or municipality that issues the license. The applicant shall also execute a cash bond or a surety bond issued by a corporate surety authorized to do business in this state in an amount that is the lesser of either Two Thousand Dollars ($2,000.00) or five percent (5%) of the wholesale value of any merchandise or service to be offered for sale by the applicant. The surety bond shall be issued in favor of the state and shall be conditioned upon payment of:
(a)
all taxes due from the applicant to the state or to a political subdivision of the state;
(b)
any fines assessed against the applicant or the applicant's agents or employees for a violation of this chapter; and
(c)
any judgment rendered against the applicant or the applicant's agents or employees in a cause of action commenced by a purchaser of merchandise or services not later than one (1) year after the date the merchandise or services were sold by the applicant.
(2)
The transient vendor shall maintain the bond during the period that the vendor conducts business in the county or municipality and for a period of one (1) year after the termination of the business. After the transient vendor furnishes satisfactory proof to the county tax collector or municipal tax collector, as the case may be, that the vendor has satisfied all claims of purchasers of merchandise from or services offered by the vendor and that all sales taxes and other applicable taxes have been paid, the bond shall be released.
Laws, 1988, ch. 581, § 7; Laws, 1994, ch. 522, § 6, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-15 - Issuance of license; validity of license; renewal of license

(1)
The county tax collector and the municipal tax collector shall issue a transient vendor license under this chapter only if all requirements of this chapter have been met. The license is not transferable and is valid only within the territorial limits of the issuing county or municipality. A license expires ninety (90) days after the day of issuance.
(2)
A license may be renewed on payment of a Twenty-five Dollar ($25.00) renewal fee and filing for renewal with the county tax collector or municipal tax collector, as the case may be, before the expiration of the current license. A license may be renewed only one (1) time after which a licensee must once again purchase a new license pursuant to the provisions of Section
75-85-13
, Mississippi Code of 1972.
Laws, 1988, ch. 581, § 8; Laws, 1989, ch. 561, § 2, eff. 4/19/1989.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-17 - Posting of sales tax number, license number and statement concerning sales receipt; vendor to keep running total of sales

While transacting his business, a transient vendor shall post in a prominent place, so that they may clearly be seen by purchasers of the merchandise or services which he is offering, his state sales tax number, his transient vendor license number, and a statement that he is required to give purchasers, at the time of payment, receipts for purchases that include sales tax. The postings required in this section shall be written in bold, legible letters and numbers not less than one (1) inch in height. The transient vendor shall keep a running total of his sales.
Laws, 1988, ch. 581, § 9, eff. 10/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 85 - TRANSIENT VENDOR (§§ 75-85-1 — 75-85-19) › Section 75-85-19 - Penalties for violation of chapter

Any person who knowingly or intentionally operates a transient business without a valid license as provided by this chapter or who knowingly or intentionally advertises, offers for sale, or sells any merchandise or services in violation of this chapter shall, upon conviction, be guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than Five Hundred Dollars ($500.00) or be imprisoned in the county jail not more than six (6) months, or be both fined and imprisoned. Such person may also be proceeded against by suit, and the tax collector may seize and sell any property of the person liable for the tax and penalty in the same manner as property of taxpayers delinquent for the payment of ad valorem taxes due on personal property may be distrained and sold.
Laws, 1988, ch. 581, § 10, eff. 10/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 87 - CONTRACTS BETWEEN OUT-OF-STATE PRINCIPALS AND COMMISSIONED SALES REPRESENTATIVES (§§ 75-87-1 — 75-87-7) › Section 75-87-1 - Definitions

As used in this chapter:
(a)
"Commission" means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the dollar amount of certain orders or sales.
(b)
"Principal" means any person who does not have a permanent or fixed place of business in this state and who:
(i)
Engages in the business of manufacturing, producing, importing or distributing a product or products for sale to customers who purchase such product or products for resale;
(ii)
Utilizes sales representatives to solicit orders for such product or products; and
(iii)
Compensates the sales representatives, in whole or in part, by commission.
(c)
"Sales representative" means any person who engages in the business of soliciting, on behalf of a principal, orders for the purchase at wholesale of the product or products of the principal. The term "sales representative" shall not include a person who places orders or purchases for such person's own account for resale or is engaged in home solicitation sales regulated pursuant to Section
75-66-1
et seq., Mississippi Code of 1972.
Laws, 1988, ch. 588, § 1, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 87 - CONTRACTS BETWEEN OUT-OF-STATE PRINCIPALS AND COMMISSIONED SALES REPRESENTATIVES (§§ 75-87-1 — 75-87-7) › Section 75-87-3 - Sales representative contract to set forth means by which commissions shall be computed and paid

Whenever any principal enters into an oral or written contract with a sales representative for services to be rendered within this state and the contemplated method of compensation of the sales representative involves a commission, the contract shall set forth the means by which the commission shall be computed and paid.
Laws, 1988, ch. 588, § 2, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 87 - CONTRACTS BETWEEN OUT-OF-STATE PRINCIPALS AND COMMISSIONED SALES REPRESENTATIVES (§§ 75-87-1 — 75-87-7) › Section 75-87-5 - Commissions due and payable within 21 days of termination of sales representative's contract

Whenever the contract between a sales representative and any principal is terminated, all commissions due the sales representative by the principal shall be due and payable within twenty-one (21) days of such termination.
Laws, 1988, ch. 588, § 3, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 87 - CONTRACTS BETWEEN OUT-OF-STATE PRINCIPALS AND COMMISSIONED SALES REPRESENTATIVES (§§ 75-87-1 — 75-87-7) › Section 75-87-7 - Action to recover commissions; triple commissions; attorney fees

Any principal who fails to timely pay the sales representative as provided in Section
75-87-5
, shall be liable to the sales representative in a civil action for up to triple the commissions due to the sales representative, plus reasonable attorney's fees and costs.
Laws, 1988, ch. 588, § 4, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-1 - Short Title

This chapter shall be know and may be cited as the "Mississippi Commodities Enforcement Act."
Laws, 1993, ch. 319, § 1, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-5 - Commodity sale or purchase permitted only pursuant to Section 75-89-7 or 75-89-9

Except as otherwise provided in Section
75-89-7
or Section
75-89-9
, no person shall sell or purchase, or offer to sell or purchase, any commodity under any commodity contract or under any commodity option, or offer to enter into or enter into as seller or purchaser any commodity contract or any commodity option.
Laws, 1993, ch. 319, § 3, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-7 - Persons authorized to conduct commodity transactions

The prohibitions in Section
75-89-5
shall not apply to any transaction offered by and in which any of the following persons, or any employee, officer or director thereof acting solely in that capacity, is the purchaser or seller:
(a)
A person registered with the Commodity Futures Trading Commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration;
(b)
A person registered with the Securities and Exchange Commission or registered under the laws of this state as a securities broker-dealer whose activities require such registration;
(c)
A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in paragraph (a) or (b) of this section;
(d)
A person who is a member of a contract market designated by the Commodity Futures Trading Commission or any clearinghouse thereof;
(e)
A financial institution.
The exemption provided by this section shall not apply to any transaction or activity which is prohibited by the Commodity Exchange Act or CFTC rule.
Laws, 1993, ch. 319, § 4, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-11 - Requirements to engage in trade or business of commodity merchant

(1)
No person shall engage in the trade or business of, or otherwise act as, a commodity merchant unless such person:
(a)
Is registered or temporarily licensed with the Commodity Futures Trading Commission for each activity constituting such person as a commodity merchant and such registration or temporary license shall not have expired, nor been suspended nor revoked; or
(b)
Is exempt from such registration by virtue of the Commodity Exchange Act or of a CFTC rule.
(2)
No board of trade shall trade, or provide a place for the trading of, any commodity contract or commodity option required to be traded on or subject to the rules of a contract market designated by the Commodity Futures Trading Commission unless such board of trade has been so designated for such commodity contract or commodity option and such designation shall not have been vacated, nor suspended nor revoked.
Laws, 1993, ch. 319, § 6, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-13 - Fraudulent or deceitful acts, false or misleading statements or reports, and the like prohibited

No person, in connection with the purchase or sale of, the offer to sell, the offer to purchase, the offer to enter into, or the entry into any commodity contract or commodity option, shall directly or indirectly:
(a)
Cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme or artifice to defraud any other person;
(b)
Make any false report, enter any false record or make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading;
(c)
Engage in any transaction, act, practice or course of business, including without limitation any form of advertising or solicitation, which operates or would operate as a fraud or deceit upon any person; or
(d)
Misappropriate or convert the funds, security or property of any other person.
Laws, 1993, ch. 319, § 7, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-15 - Vicarious or agency liability

(1)
The act, omission or failure of any official, agent, or other person acting for any individual, association, partnership, corporation or trust within the scope of his employment or office shall be deemed the act, omission or failure of such individual, association, partnership, corporation or trust, as well as of such official, agent or other person.
(2)
Every person who directly or indirectly controls another person liable under any provision of this chapter, every partner, officer, or director of such other person, every person occupying a similar status or performing similar functions, every employee of such other person who materially aids in the violation is also liable jointly and severally with and to the same extent as such other person, unless the person who is also liable by virtue of this provision sustains the burden of proof that he did not know, and in the exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist.
Laws, 1993, ch. 319, § 8, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-17 - Purpose and construction; no private rights or remedies created

This chapter may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts and to maximize coordination with federal and other states' laws and the administration and enforcement thereof. This chapter is not intended to create any rights or remedies upon which actions may be brought by private persons against persons who violate the provisions of this chapter.
Laws, 1993, ch. 319, § 9, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-19 - Investigation and enforcement by administrator; compulsion of testimony and other evidence

(1)
The administrator may conduct investigations, within or without this state, as he finds necessary or appropriate to:
(a)
Determine whether any person has violated, or is about to violate, any provision of this chapter or any rule or order of the administrator; or
(b)
Aid in enforcement of this chapter.
(2)
The administrator may publish information concerning any violation of this chapter or any rule or order of the administrator.
(3)
For purposes of any investigation or proceeding under this chapter, the administrator or any officer or employee designated by rule or order, may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of any books, papers, correspondence, memoranda, agreements or other documents or records which the administrator finds to be relevant or material to the inquiry.
(4)
(a)
If a person does not give testimony or produce the documents required by the administrator or a designated employee pursuant to an administrative subpoena, the administrator or designated employee may apply for a court order compelling compliance with the subpoena or the giving of the required testimony.
(b)
The request for order of compliance may be addressed to either:
(i)
The Chancery Court of the First Judicial District of Hinds County, Mississippi, if the person is within this state; or
(ii)
The appropriate court of the state having jurisdiction over the person refusing to testify or produce, if the person is outside this state.
Laws, 1993, ch. 319, § 10, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-21 - Action by administrator to prevent, enjoin, and prosecute violations; administrative penalties

(1)
If the administrator believes, whether or not based upon an investigation conducted under Section
75-89-19
, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, the administrator may seek any or all of the following remedies:
(a)
Issue a cease and desist order with or without a prior hearing against the person(s) engaged in the prohibited activities, directing them to cease and desist from further illegal activity;
(b)
Issue an order imposing an administrative penalty up to a maximum of Twenty-five Thousand Dollars ($25,000.00) for each offense and each violation shall be considered as a separate offense in a single proceeding or a series of related proceedings, to be paid to the administrator and requiring reimbursement to the administrator for all costs and expenses incurred in the investigation of the violation(s) and in the institution of administrative proceedings, if any, as a result thereof; or
(c)
Initiate any of the actions specified in subsection (2) of this section.
(2)
The administrator may institute any or all of the following actions in the Chancery Court of the First Judicial District of Hinds County, Mississippi, or in the appropriate courts of another state, in addition to any legal or equitable remedies otherwise available:
(a)
An action for a declaratory judgment;
(b)
An action for a prohibitory or mandatory injunction to enjoin the violation and to ensure compliance with this chapter or any rule or order of the administrator;
(c)
An action for disgorgement; or
(d)
An action for appointment of a receiver or conservator for the defendant or the defendant's assets.
Laws, 1993, ch. 319, § 11, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-23 - Judicial measures to prevent, enjoin, and prosecute violations of Mississippi or other state's Commodity Act; special remedies; administrator need not post bond

(1)
(a)
Upon a proper showing by the administrator that a person has violated, or is about to violate, any provision of this chapter or any rule or order of the administrator, the court may grant appropriate legal or equitable remedies.
(b)
Upon a showing of violation of this chapter or a rule or order of the administrator, the court, in addition to traditional legal and equitable remedies, including temporary restraining orders, permanent or temporary prohibitory or mandatory injunctions, and writs of prohibition or mandamus, may grant the following special remedies:
(i)
Disgorgement;
(ii)
Declaratory judgment;
(iii)
Restitution to investors wishing restitution; and
(iv)
Appointment of a receiver or conservator for the defendant or the defendant's assets.
(c)
Appropriate remedies when the defendant is shown only about to violate this chapter or a rule or order of the administrator shall be limited to:
(i)
A temporary restraining order;
(ii)
A temporary or permanent injunction;
(iii)
A writ of prohibition or mandamus; or
(iv)
An order appointing a receiver or conservator for the defendant or the defendant's assets.
(d)
Upon a proper showing by the administrator or commodity agency of another state that a person, other than a government or governmental agency or instrumentality, has violated, or is about to violate, any provision of the commodity code of that state or any rule or order of the administrator or commodity agency of that state, the Chancery Court of the First Judicial District of Hinds County, Mississippi, may grant appropriate legal and equitable remedies.
(e)
Upon showing of a violation of the commodity act of another state or a rule or order of the administrator or commodity agency of another state, the court, in addition to traditional legal or equitable remedies including temporary restraining orders, permanent or temporary prohibitory or mandatory injunctions and writs of prohibition or mandamus, may grant the following special remedies:
(i)
Disgorgement; and
(ii)
Appointment of a receiver, conservator or ancillary receiver or conservator for the defendant or the defendant's assets located in this state.
(f)
Appropriate remedies when the defendant is shown only about to violate the commodity act of another state or a rule or order of the administrator or commodity agency of another state shall be limited to:
(i)
A temporary restraining order;
(ii)
A temporary or permanent injunction;
(iii)
A writ of prohibition or mandamus; and
(iv)
An order appointing a receiver, conservator or ancillary receiver or conservator for the defendant or the defendant's assets located in this state.
(2)
The court shall not require the administrator to post a bond in any official action under this chapter.
Laws, 1993, ch. 319, § 12, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-25 - Penalties; period of limitations; institution of criminal proceedings

(1)
Any person who willfully violates:
(a)
Any provision of this chapter; or
(b)
Any rule or order of the administrator under this chapter shall, upon conviction, be fined not more than Twenty-five Thousand Dollars ($25,000.00) or imprisoned not more than five (5) years, or both, for each violation.
(2)
Any person convicted of violating a rule or order under this chapter may be fined, but may not be imprisoned, if the person proves he had no knowledge of the rule or order.
(3)
No indictment or information may be returned under this chapter more than five (5) years after the alleged violation.
(4)
The administrator may refer such evidence as is available concerning violations of this chapter or any rule or order of the administrator to the Attorney General or to the proper district attorney, who may, with or without such a referral from the administrator, institute the appropriate criminal proceedings under this chapter.
Laws, 1993, ch. 319, § 13, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-27 - Secretary of State to administer chapter; insider information; public and privileged information; subpoena of evidence

(1)
This chapter shall be administered by the Secretary of State of Mississippi.
(2)
Neither the administrator nor any employees of the administrator shall use any information which is filed with or obtained by the administrator which is not public information for personal gain or benefit, nor shall the administrator or any employees of the administrator conduct any commodity dealings whatsoever based upon any such information, even though public, if there has not been a sufficient period of time for the commodity markets to assimilate such information.
(3)
(a)
Except as provided in paragraph (b) of this subsection (3), all information collected, assembled or maintained by the administrator is public information and is available for the examination of the public as provided by the Mississippi Public Records Act of 1983.
(b)
The following are exceptions to paragraph (a) of this subsection (3) which are deemed to be confidential:
(i)
Information obtained in private investigations pursuant to Section
75-89-19
;
(ii)
Information made confidential by the provisions of the Mississippi Public Records Act of 1983, and any statutory exceptions thereto;
(iii)
Information obtained from federal agencies which may not be disclosed under federal law.
(c)
The administrator in his discretion may disclose any information made confidential under paragraph (3)(b) of this section to persons identified in subsection (1) of Section
75-89-29
.
(d)
No provision of this chapter either creates or derogates any privilege which exists at common law, by statute or otherwise when any documentary or other evidence is sought under subpoena directed to the administrator or any employee of the administrator.
Laws, 1993, ch. 319, § 14, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-29 - Cooperation with like agencies in other jurisdictions

(1)
To encourage uniform application and interpretation of this chapter and commodities regulation and enforcement in general, the administrator and the employees of the administrator may cooperate, including bearing the expense of the cooperation, with the commodities agencies or administrator of another jurisdiction, Canadian province or territory or such other agencies administering this chapter, the Commodity Futures Trading Commission, the Securities and Exchange Commission, any self-regulatory organization established under the Commodity Exchange Act or the Securities Exchange Act of 1934, any national or international organization of commodities officials or agencies and any governmental law enforcement agency.
(2)
The cooperation authorized by subsection (1) shall include, but need not be limited to, the following:
(a)
Making joint examinations or investigations;
(b)
Holding joint administrative hearings;
(c)
Filing and prosecuting joint litigation;
(d)
Sharing and exchanging personnel;
(e)
Sharing and exchanging information and documents;
(f)
Formulating and adopting mutual regulations, statements of policy, guidelines, proposed statutory changes and releases; and
(g)
Issuing and enforcing subpoenas at the request of the commodity agency in another jurisdiction, the securities agency of another jurisdiction, the Commodity Futures Trading Commission or the Securities and Exchange Commission, if the information sought would also be subject to lawful subpoena for conduct occurring in this state.
Laws, 1993, ch. 319, § 15, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-31 - Administrator may make, amend and rescind rules, forms and orders; publication of same; exemption from liability therefor

(1)
In addition to specific authority granted elsewhere in this chapter, the administrator may make, amend and rescind rules, forms and orders as are necessary to carry out the provisions of this chapter. Such rules or forms shall include, but need not be limited to rules defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with the provisions of this chapter. For the purpose of rules or forms, the administrator may classify commodities and commodity contracts, persons and matters within the administrator's jurisdiction.
(2)
Unless specifically provided in this chapter, no rule, form or order may be adopted, amended or rescinded unless the administrator finds that the action is:
(a)
Necessary or appropriate in the public interest or for the protection of investors; and
(b)
Consistent with the purposes fairly intended by the policy and provisions of this chapter.
(3)
All rules and forms of the administrator shall be published.
(4)
No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with a rule, order or form adopted by the administrator, notwithstanding that the rule, order or form may later be amended, or rescinded or be determined by judicial or other authority to be invalid for any reason.
Laws, 1993, ch. 319, § 16, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-33 - Conduct violative of chapter or rule deemed appointment of administrator to accept service of process

When a person, including a nonresident of this state, engages in conduct prohibited or made actionable by this chapter or any rule or order of the administrator, the engaging in the conduct shall constitute the appointment of the administrator as the person's attorney to receive service of any lawful process in a noncriminal proceeding against the person, a successor or personal representative, which grows out of that conduct and which is brought under this chapter or any rule or order of the administrator with the same force and validity as if served personally.
Laws, 1993, ch. 319, § 17, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 89 - MISSISSIPPI COMMODITIES ENFORCEMENT ACT (§§ 75-89-1 — 75-89-45) › Section 75-89-35 - Applicability of certain provisions when purchase, sale, or offer to buy or sell is made in state; what constitutes purchase, sale, or offer to buy or sell in state

(1)
Sections
75-89-5
,
75-89-11
, and
75-89-13
apply to persons who sell or offer to sell when:
(a)
An offer to sell is made in this state; or
(b)
An offer to buy is made and accepted in this state.
(2)
Sections
75-89-5
,
75-89-11
, and
75-89-13
apply to persons who buy or offer to buy when:
(a)
An offer to buy is made in this state; or
(b)
An offer to sell is made and accepted in this state.
(3)
For the purpose of this section, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer:
(a)
Originates from this state; or
(b)
Is directed by the offeror to this state and received at the place to which it is directed, or at any post office in this state in the case of a mailed offer.
(4)
For the purpose of this section, an offer to buy or to sell is accepted in this state when acceptance:
(a)
Is communicated to the offeror in this state; and
(b)
Has not previously been communicated to the offeror, orally or in writing, outside this state; and acceptance is communicated to the offeror in this state, whether or not either party is then present in this state, when the offeree directs it to the offeror in this state, reasonably believing the offeror to be in this state and it is received at the place to which it is directed, or at any post office in this state in the case of a mailed acceptance.
(5)
An offer to sell or to buy is not made in this state when:
(a)
The publisher circulates or there is circulated on his behalf in this state any bona fide newspaper or other publication of general, regular and paid circulation which is not published in this state, or which is published in this state but has had more than two-thirds (2/3) of its circulation outside this state during the past twelve (12) months; or
(b)
A radio or television program originating outside this state is received in this state.
Laws, 1993, ch. 319, § 18, eff. 7/1/1993.