44-1921. Denial of registration by qualification
Except as provided in section 44-1901, the commission may enter an order denying the registration of any securities to be registered by qualification, if, after a hearing or notice and opportunity for hearing as provided by article 11 of this chapter, it finds that:
1. The application for registration, prospectus, any financial statement, or any document or exhibit filed with the application, or any amendment or supplement thereto, is incomplete, inaccurate or misleading, or the information contained therein is insufficient for a true appraisal of the securities.
2. The issuer or any dealer or salesman designated to engage in the sale of the securities has violated any provision of this chapter, or any rule or order of the commission thereunder.
3. The sale of the securities works or would tend to work a fraud or deceit upon the purchasers thereof, or is or would be unfair or inequitable to the purchasers.
4. The issuer is insolvent, or is in an unsound financial condition.
5. The issuer has refused to permit the commission to examine its affairs, or has failed or refused to furnish information required by this chapter, or any rule or order of the commission thereunder.
6. The issuer, any officer or director of the issuer, if a corporation or unincorporated association, any trustee or other fiduciary of the issuer, if a trust, any partner of the issuer, if a partnership, or any person controlling, controlled by or under common control with the issuer:
(a) Has been convicted within five years preceding the filing of the application for registration of securities, or at any time thereafter, of a felony or misdemeanor involving a transaction in securities, or of which fraud is an essential element.
(b) Is subject to an order, judgment or decree of an administrative tribunal, a court of competent jurisdiction, an SRO or the SEC that is entered within three years preceding the date of filing the application or any time thereafter, and that enjoins or restrains the person from engaging in or continuing any conduct or practice in connection with the sale or purchase of securities.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.