Securities Act
Virginia · 13.1 · §§ 13.1-501 to 13.1-527.3 · 40 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 106 court decisions.
Most-cited authority: 518 F.2d 97 - Newman v. Prior
Sections covered
- Va. Code Ann. § 13.1-501Definitions19 cites
- Va. Code Ann. § 13.1-502Unlawful offers and sales20 cites
- Va. Code Ann. § 13.1-503Unlawful advice
- Va. Code Ann. § 13.1-504Registration6 cites
- Va. Code Ann. § 13.1-504.1Brokerage services of savings and loan associations, savings banks or service corporations of either; when registration not required
- Va. Code Ann. § 13.1-504.2Broker-dealer services provided by credit unions; when registration not required
- Va. Code Ann. § 13.1-505Procedure for registration1 cite
- Va. Code Ann. § 13.1-505.1Post-registration provisions
- Va. Code Ann. § 13.1-506Revocation of registration
- Va. Code Ann. § 13.1-507Registration requirement; exemptions3 cites
- Va. Code Ann. § 13.1-508Registration by notification
- Va. Code Ann. § 13.1-509Registration by coordination
- Va. Code Ann. § 13.1-510Registration by qualification
- Va. Code Ann. § 13.1-511Effectiveness and reports
- Va. Code Ann. § 13.1-512Repealed
- Va. Code Ann. § 13.1-513Stop orders
- Va. Code Ann. § 13.1-514Exemptions1 cite
- Va. Code Ann. § 13.1-514.1Exemption of certain securities by order of Commission
- Va. Code Ann. § 13.1-514.2Primacy of Virginia law to be maintained
- Va. Code Ann. § 13.1-515Advertising
- Va. Code Ann. § 13.1-516Misleading filings
- Va. Code Ann. § 13.1-517Consent to service of process
- Va. Code Ann. § 13.1-518Investigations; confidentiality of information and documents1 cite
- Va. Code Ann. § 13.1-518.1Broker-dealers and investment advisors to file certain reports with Commission
- Va. Code Ann. § 13.1-519Injunctions1 cite
- Va. Code Ann. § 13.1-520Crimes1 cite
- Va. Code Ann. § 13.1-520.1Commission may transmit record or complaint to locality where violation occurred
- Va. Code Ann. § 13.1-521Violations punishable by the Commission1 cite
- Va. Code Ann. § 13.1-522Civil liabilities52 cites
- Va. Code Ann. § 13.1-523Rules and forms
- Va. Code Ann. § 13.1-523.1Commission authority to regulate securities and investment advisory activities
- Va. Code Ann. § 13.1-524Certain records of Commission available to public; admissibility of copies; destruction
- Va. Code Ann. § 13.1-525Official interpretations
- Va. Code Ann. § 13.1-525.1Fees to cover expense of regulation
- Va. Code Ann. § 13.1-526Transition
- Va. Code Ann. § 13.1-527Short title
- Va. Code Ann. § 13.1-527.01Repealed
- Va. Code Ann. § 13.1-527.1Division created; duties
- Va. Code Ann. § 13.1-527.2Attorneys, employees and consultants
- Va. Code Ann. § 13.1-527.3Commission to provide technical assistance
Enacted in other states
Alaska, Alabama, Arkansas, Colorado, Delaware, Maryland, Mississippi, Montana, North Carolina, North Dakota, Tennessee, Texas, Washington
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