Public-domain · open source
OpenJurist

Alabama Securities Act

Alabama · Commercial Law and Consumer Protection · §§ 8-6-1 to 8-6-9 · 31 sections

Overview

The act regulates the offer and sale of securities within a state and the conduct of the people and firms that deal in them, including broker-dealers, salespersons, and investment advisers. It prohibits fraudulent and deceptive practices in securities transactions and advisory relationships, and requires that securities be registered — by coordination with a federal filing or by qualification — before they may be offered or sold, subject to enumerated exemptions for certain securities and transactions. Administration rests with a state official empowered to license and examine registrants, set fees and recordkeeping requirements, issue stop orders halting an offering, and deny, condition, suspend, or revoke registrations and exemptions after notice and hearing.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

In the courts

Sections of this act have been cited in 45 court decisions.

Most-cited authority: 815 F. Supp. 620 - In Re Integrated Resources Real Estate Ltd. Partnerships Securities Litigation

Sections covered

  • Ala. Code § 8-6-1Short Title.4 cites
  • Ala. Code § 8-6-10Registration of Securities - Exempt Securities.
  • Ala. Code § 8-6-11Registration of Securities - Exempt Transactions.
  • Ala. Code § 8-6-12Registration of Securities - Applicability of Provisions of Article; Consent to Service of Process on Secretary of State.
  • Ala. Code § 8-6-14Filing or Registration Not Finding of Truth, Completeness, Etc., of Documents; Representations Concerning Effect of Registration or Exemption.
  • Ala. Code § 8-6-15Investigations and Subpoenas by Commission.
  • Ala. Code § 8-6-16Administrative Cease and Desist Authority to Commission; Injunctive Relief; Appointment of Receivers or Conservators for Defendants or Defendants’ Assets; Court Ordered Rescission, Restitution, or Disgorgement for Violations.1 cite
  • Ala. Code § 8-6-17Prohibited Acts Regarding Offer, Sale, or Purchase of Securities.7 cites
  • Ala. Code § 8-6-18Criminal Penalties for Violations of Article; Enforcement; Scienter.2 cites
  • Ala. Code § 8-6-19Civil Liabilities of Sellers, Agents, Etc.; Remedies of Purchasers.24 cites
  • Ala. Code § 8-6-2Definitions.1 cite
  • Ala. Code § 8-6-21Commission Authorized to Swear Out Warrants of Arrest; Liability of Commission for Warrant.
  • Ala. Code § 8-6-22Duties of Director; Director Empowered to Swear Out Warrants of Arrest; Liability of Director for Warrant.
  • Ala. Code § 8-6-23Making, Amending, and Rescinding Rules and Prescribing Forms by Commission.
  • Ala. Code § 8-6-24Liability for Acts Done or Omitted in Good Faith Under Rules, Forms, or Orders.
  • Ala. Code § 8-6-25Hearings to Be Public; Requests for Private Hearings.
  • Ala. Code § 8-6-26Document Deemed Filed When Received.
  • Ala. Code § 8-6-27Commission to Keep Register; Register to Be Open for Public Inspection.
  • Ala. Code § 8-6-28Commission to Furnish Copies of Register Entries or Documents; Certified Copy Deemed Prima Facie Evidence.1 cite
  • Ala. Code § 8-6-29Interpretative Opinions by Commission.
  • Ala. Code § 8-6-3Registration and Bonds of Dealers, Agents, Investment Advisers, Etc.2 cites
  • Ala. Code § 8-6-30Burden of Proving Exemption or Exception from Definition.
  • Ala. Code § 8-6-31Commission May Issue Warnings to Public and Publish Information Regarding Orders.
  • Ala. Code § 8-6-32Party Aggrieved by Order Entitled to Hearing Before Commission; Appeals from Action of Commission.
  • Ala. Code § 8-6-33Disposition of Revenue.
  • Ala. Code § 8-6-4Registration of Securities - Required; Exceptions.3 cites
  • Ala. Code § 8-6-5Registration of Securities - Registration by Notification.
  • Ala. Code § 8-6-6Registration of Securities - Registration of Certain Securities by Coordination.
  • Ala. Code § 8-6-7Registration of Securities - Registration by Qualification.
  • Ala. Code § 8-6-8Registration of Securities - Registration Statement; Conditions Precedent; Bond; Notice of Action; Fees; Quarterly Reports and Financial Statements; Discharge from Supervision.
  • Ala. Code § 8-6-9Registration of Securities - Denial, Suspension and Revocation of Registration.

Enacted in other states

Alaska, Arkansas, Colorado, Delaware, Maryland, Mississippi, Montana, North Carolina, North Dakota, Tennessee, Texas, Virginia, Washington

All Alabama named statutes →

Download

Copy

Embed on your site

Hover to preview · click to copy the code

Search Wikipedia →