O.C.G.A. § 10-5-74 — Issuance of forms and orders; adoption and amendment of rules

(a) The Commissioner may: (1) Issue forms and orders and, after notice and comment, may adopt and amend rules necessary or appropriate to carry out this chapter and may repeal rules, including rules and forms governing registration statements, applications, notice ﬁlings, reports, and other records; (2) By rule, deﬁne terms, whether or not used in this chapter, but those deﬁnitions may not be inconsistent with this chapter; and (3) By rule, classify securities, persons, and transactions and adopt different requirements for different classes. (b) Under this chapter, a rule or form may not be adopted or amended or an order issued or amended unless the Commissioner ﬁnds that the rule, form, order, or amendment is necessary or appropriate in the public interest or for the protection of investors and is consistent with the purposes intended by this chapter. In adopting, amending, and repealing rules and forms, Code Section 10-5-77 applies in order to achieve uniformity among the states and coordination with federal laws in the form and content of registration statements, applications, reports, and other records, including the adoption of uniform rules, forms, and procedures. (c) Subject to Section 15(h) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78a, et seq., and Section 222 of the Investment Advisers Act of 1940, 15 U.S.C. Section 80b-1, et seq., the Commissioner may require that a ﬁnancial statement ﬁled under this chapter be prepared in accordance with generally accepted accounting principles in the United States and comply with other requirements speciﬁed by rule adopted or order issued under this chapter. A rule adopted or order issued under this chapter may establish: (1) Subject to Section 15(h) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78a, et seq., and Section 222 of the Investment Advisors Act of 1940, 15 U.S.C. Section 80b-1, et seq., the form and content of ﬁnancial statements required under this chapter; (2) Whether unconsolidated ﬁnancial statements must be ﬁled; and (3) Whether required ﬁnancial statements must be audited by an independent certiﬁed public accountant. (d) The Commissioner may provide interpretative opinions or issue determinations that the Commissioner will not institute a proceeding 813 10-5-76 or an action under this chapter against a speciﬁed person for engaging in a speciﬁed act, practice, or course of business if the determination is consistent with this chapter. A rule adopted or order issued under this chapter may establish a reasonable charge for interpretative opinions or determinations that the Commissioner will not institute an action or a proceeding under this chapter. (e) A hearing in an administrative proceeding under this chapter shall be conducted in public unless the Commissioner for good cause consistent with this chapter determines that the hearing shall not be so conducted. History. Code 1981, § 10-5-74, enacted by Ga. L. 2008, p. 381, § 1/SB 358. 10-5-75. Register of applications for registration of securities; registration statements; notice ﬁlings; notices of claims; furnishing certain information to the public. (a) The Commissioner shall maintain, or designate a person to maintain, a register of applications for registration of securities; registration statements; notice ﬁlings; applications for registration of broker-dealers, agents, investment advisers, and investment adviser representatives; notice ﬁlings by federal covered investment advisers that are or have been effective under this chapter or the predecessor Act; notices of claims of exemption from registration or notice ﬁling requirements contained in a record; orders issued under this chapter or the predecessor Act; and interpretative opinions or no action determinations issued under this chapter. (b) The Commissioner shall make all rules, forms, interpretative opinions, and orders available to the public. (c) The Commissioner shall furnish a copy of a record that is a public record or a certiﬁcation that the public record does not exist to a person that so requests. A rule adopted under this chapter may establish a reasonable charge for furnishing the record or certiﬁcation. A copy of the record certiﬁed or a certiﬁcate by the Commissioner of a record’s nonexistence is prima-facie evidence of a record or its nonexistence. History. Code 1981, § 10-5-75, enacted by Ga. L. 2008, p. 381, § 1/SB 358. 10-5-76. Public records; exceptions.