Title 36b — Title 36b: Connecticut Securities Law and Business Opportunity Investment Act

Sec. 36b-10. (Formerly Sec. 36-478). Application for registration to be under oath. Each application for registration under sections 36b-2 to 36b-34, inclusive, shall be sworn to, before a person qualified to administer oaths, by the person making the same and shall state that th…

Sec. 36b-11. (Formerly Sec. 36-479). Photograph to accompany each application for registration. Each application for registration under sections 36b-2 to 36b-34, inclusive, shall be accompanied by a photograph as defined by the commissioner, unless the commissioner waives the req…

Sec. 36b-12. (Formerly Sec. 36-480). Application and registration fees. (a) Each person applying for registration as a broker-dealer or investment adviser shall pay to the commissioner or to any person designated by the commissioner in writing to collect such fee on behalf of the…

Sec. 36b-13. (Formerly Sec. 36-481). Registration renewal. Requirements. (a) Each person registered as a broker-dealer or investment adviser may renew such registration for a one-year period not later than December thirty-first of each calendar year by making application in such …

Sec. 36b-14. (Formerly Sec. 36-482). Records and financial reports required. Definitions. Disclosure of financial exploitation or suspected exploitation. Trusted contact person. Hold on disbursement or transaction. Immunity. (a)(1) Every registered investment adviser shall make, …

Sec. 36b-15. (Formerly Sec. 36-484). Denial, suspension or revocation of registration by commissioner. Withdrawal from registration or of application. (a) The commissioner may, by order, deny, suspend or revoke any registration or, by order, restrict or impose conditions on the s…

Sec. 36b-16. (Formerly Sec. 36-485). Registration of security prior to offer or sale required. Exceptions. No person shall offer or sell any security in this state unless (1) it is registered under sections 36b-2 to 36b-34, inclusive, (2) the security or transaction is exempted u…

Sec. 36b-17. (Formerly Sec. 36-486). Registration of security by coordination. Registration statement. Contents. Effective date. (a) Any security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering may be registe…

Sec. 36b-18. (Formerly Sec. 36-487). Registration of security by qualification. Statement contents. Effective date. (a) Any security may be registered by qualification. (b) A registration statement under this section shall contain the following information and be accompanied by t…

Sec. 36b-19. (Formerly Sec. 36-488). Registration statement filed by issuer, person on whose behalf offering is to be made or registered broker-dealer. Fee. Contents. Effective date. Regulation by commissioner. (a) A registration statement may be filed with the commissioner, or w…

Sec. 36b-2. (Formerly Sec. 36-470). Short title: Connecticut Uniform Securities Act. Sections 36b-2 to 36b-34, inclusive, may be cited as the “Connecticut Uniform Securities Act”. (P.A. 77-482, S. 1; P.A. 10-141, S. 2.) History: Sec. 36-470 transferred to Sec. 36b-2 in 1995; P.A.…

Sec. 36b-20. (Formerly Sec. 36-489). Stop order. When issued by commissioner. Registration statement deemed abandoned, when. (a) The commissioner may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, any registration statement if he find…

Sec. 36b-21. (Formerly Sec. 36-490). Exemption of certain securities and transactions. Denial or revocation of exemption. (a) The following securities are exempted from sections 36b-16 and 36b-22: (1) Any security including a revenue obligation issued or guaranteed by the United …

Sec. 36b-22. (Formerly Sec. 36-491). Filing of material intended for distribution to prospective investors. The commissioner may, by regulation adopted, in accordance with chapter 54, or order, require the filing of any prospectus, pamphlet, circular, form letter, advertisement o…

Sec. 36b-22a. Investment advisers and investment adviser agents to provide schedule of charges, fees and penalties to clients. Each investment adviser required to register under section 36b-6 or investment adviser agent, as defined in section 36b-3, except an investment adviser r…

Sec. 36b-23. (Formerly Sec. 36-492). False or misleading statements or omissions prohibited. No person shall make or cause to be made orally or in any document filed with the commissioner or in any proceeding, investigation or examination under sections 36b-2 to 36b-34, inclusive…

Sec. 36b-24. (Formerly Sec. 36-493). Findings by commissioner. (a) Neither (1) the fact that an application for registration under sections 36b-6 to 36b-15, inclusive, or a registration statement under sections 36b-16 to 36b-20, inclusive, has been filed, nor (2) the fact that a …

Sec. 36b-25. (Formerly Sec. 36-494). Administration of chapter. Use and disclosure of information obtained under chapter. (a) Sections 36b-2 to 36b-34, inclusive, shall be administered by the commissioner. (b) Neither the commissioner nor any of his officers or employees shall us…

Sec. 36b-26. (Formerly Sec. 36-495). Investigative powers of commissioner. (a) The commissioner may, subject to the provisions of the Freedom of Information Act, as defined in section 1-200: (1) Make such public or private investigations within or outside of this state as the com…

Sec. 36b-27. (Formerly Sec. 36-496). Enforcement powers of commissioner. (a) Whenever it appears to the commissioner after an investigation that any person has violated, is violating or is about to violate any of the provisions of sections 36b-2 to 36b-34, inclusive, or any regul…

Sec. 36b-28. (Formerly Sec. 36-497). Penalties. (a) Any person who wilfully violates any provision of subsection (a) of section 36b-4 or subsection (a) or (f) of section 36b-5 shall be fined not more than ten thousand dollars or imprisoned for not more than ten years, or both. (b…

Sec. 36b-29. (Formerly Sec. 36-498). Buyer's remedies. (a) Any person who: (1) Offers or sells a security in violation of subsection (a) of section 36b-6, 36b-16 or subsection (b) of section 36b-24 or of any regulation or order under section 36b-22 which requires the affirmative …

Sec. 36b-3. (Formerly Sec. 36-471). Definitions. As used in sections 36b-2 to 36b-34, inclusive, unless the context otherwise requires: (1) “Agent” means any individual, other than a broker-dealer, who represents a broker-dealer or issuer in effecting or attempting to effect purc…

Sec. 36b-30. (Formerly Sec. 36-499). Appeals. Any person aggrieved by a final decision of the commissioner may appeal to the superior court for the judicial district of New Britain in accordance with the provisions of section 4-183. (P.A. 77-482, S. 31; P.A. 80-483, S. 167, 186; …

Sec. 36b-31. (Formerly Sec. 36-500). Regulatory power of commissioner. Hearings. (a) The commissioner may from time to time make, amend and rescind such regulations, forms and orders as are necessary to carry out the provisions of sections 36b-2 to 36b-34, inclusive, including re…

Sec. 36b-32. (Formerly Sec. 36-501). Filing of documents. Register of applications, statements and orders. Copies. (a) A document is filed when it is received by the commissioner or any other person designated in writing by the commissioner. (b) The commissioner shall keep a regi…

Sec. 36b-32a. Applicability of The Philanthropy Protection Act of 1995. (a) Section 6 of The Philanthropy Protection Act of 1995, 15 USC Section 80a-3a, shall not preempt the laws of this state that require registration or qualification of securities or require any person to regi…

Sec. 36b-33. (Formerly Sec. 36-502). Applicability of chapter to offers to buy or sell. Appointment of commissioner as attorney for process. (a) Sections 36b-4, 36b-5, 36b-6, 36b-16, 36b-24 and 36b-29 apply to persons who sell or offer to sell when an offer to sell is made in thi…

Sec. 36b-34. Compliance with federal Currency and Foreign Transactions Reporting Act. Each broker-dealer shall comply with the applicable provisions of the Currency and Foreign Transactions Reporting Act, 31 USC Section 5311 et seq., as from time to time amended, and any regulati…

Secs. 36b-35 to 36b-39. Reserved for future use.

Sec. 36b-4. (Formerly Sec. 36-472). Prohibited activities re the offer, sale or purchase of any security. Regulations. (a) No person shall, in connection with the offer, sale or purchase of any security, directly or indirectly: (1) Employ any device, scheme or artifice to defraud…

Sec. 36b-5. (Formerly Sec. 36-473). Prohibited activities of investment advisers and persons who solicit advisory business on behalf of investment advisers. (a) No person who directly or indirectly receives compensation or other remuneration for advising another person as to the …

Sec. 36b-6. (Formerly Sec. 36-474). Broker-dealer, agent or investment adviser required to register. Exemptions. Branch offices. Notice re termination of business. (a) No person shall transact business in this state as a broker-dealer unless such person is registered under sectio…

Sec. 36b-7. (Formerly Sec. 36-475). Application for initial or renewal registration. Registration conditions. Waiver of specific registration requirements. (a) A broker-dealer, agent, investment adviser or investment adviser agent may obtain an initial or renewal registration by …

Sec. 36b-8. (Formerly Sec. 36-476). Investigation of applicant for registration. Register. On receipt of the application for registration as a branch office, broker-dealer, agent, investment adviser or investment adviser agent, the commissioner may make such investigation of the …

Sec. 36b-9. (Formerly Sec. 36-477). Statement of financial condition. The commissioner may require that each application for registration of a broker-dealer or investment adviser be accompanied by a true and correct statement of financial condition, in such form and containing su…