Title 51, Trade and Commerce
0 chapters · 1,237 sections in this title.
La. Rev. Stat. § 51:702 Definitions and rules of construction
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§702. Definitions and rules of construction As used in this Part, the term: (1) "Affiliate" or "person affiliated with" means, when used with reference to a specified person, a person who directly or indirectly through one or more intermediaries controls or is controlled by or is…
La. Rev. Stat. § 51:703 Registration of dealers, salesmen, and investment advisers and adviser
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§703. Registration of dealers, salesmen, and investment advisers and adviser representatives; surety bonds; records; disclosures A. Generally. (1) No dealer or salesman shall offer for sale or sell any securities within or from this state, except in transactions exempt under R.S.…
La. Rev. Stat. § 51:704 Suspension or revocation of registration of dealers, salesmen, investment advisers, and investment adviser representatives; requiring current financial statements
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§704. Suspension or revocation of registration of dealers, salesmen, investment advisers, and investment adviser representatives; requiring current financial statements A. The registration of any dealer, salesman, investment adviser, or investment adviser representative may be su…
La. Rev. Stat. § 51:705 Registration of securities; when and how required; delivery of prospectus
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§705. Registration of securities; when and how required; delivery of prospectus A. Generally. It shall be unlawful for any person to offer for sale or sell any securities in this state unless any of the following conditions are met: (1) They are subject to an effective registrati…
La. Rev. Stat. § 51:706 General provisions for registration of securities
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§706. General provisions for registration of securities A. Every person registering securities pursuant to R.S. 51:705(B), (D), or (E) shall pay to the commissioner a fee of one-tenth of one percentum of the aggregate price of the securities to be registered and offered to be sol…
La. Rev. Stat. § 51:707 Denial, suspension, or revocation of registration
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§707. Denial, suspension, or revocation of registration A. The commissioner may issue a stop order denying effectiveness to or suspending or revoking the effectiveness of, any registration, and shall give notice of such issuance pursuant to R.S. 51:716, if he finds that the order…
La. Rev. Stat. § 51:708 Exempt securities
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§708. Exempt securities The provisions of R.S. 51:705 shall not apply to any of the following securities: (1) Any security, including a revenue obligation or certificate of participation, issued or guaranteed by the United States, any state, any political subdivision of a state, …
La. Rev. Stat. § 51:709 Exempt transactions
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§709. Exempt transactions Except as expressly provided in this Section, R.S. 51:703 shall not apply to any offer or sale of a security in connection with any transaction described in Paragraph (1), (2), (6), (7), (8), (9), (11), (12), (13), or (17) of this Section, and R.S. 51:70…
La. Rev. Stat. § 51:710 Commissioner of securities; powers of commissioner and employees; compensation and expenses; assistant commissioner
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§710. Commissioner of securities; powers of commissioner and employees; compensation and expenses; assistant commissioner A.(1) The administration of the provisions of this Part shall be vested in the commissioner of financial institutions, who is designated commissioner of secur…
La. Rev. Stat. § 51:710.1 Commissioner of securities; power to assess civil monetary penalties
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§710.1. Commissioner of securities; power to assess civil monetary penalties The commissioner, upon notice of opportunity for hearing as provided for in R.S. 51:716, has the right to assess a civil monetary penalty against any issuer, broker-dealer, agent, investment adviser or i…
La. Rev. Stat. § 51:710.2 Public records; confidentiality
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§710.2. Public records; confidentiality A. Notwithstanding the provisions of R.S. 6:103 and except as otherwise provided in Subsection B of this Section, records obtained by the commissioner or filed under this Part, including a record contained in or filed with a registration st…
La. Rev. Stat. § 51:711 Investigations; subpoenas; self-incrimination; conducting hearings
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§711. Investigations; subpoenas; self-incrimination; conducting hearings A. The commissioner, at his discretion: (1) May make such public or private investigations within or outside of this state as he deems necessary to determine whether any person has violated or is about to vi…
La. Rev. Stat. § 51:712 Unlawful practices
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§712. Unlawful practices A. It shall be unlawful for any person: (1) To offer to sell or to sell any security in violation of R.S. 51:703, 705, or any rule, regulation or order promulgated or issued by the commissioner under this Part. (2) To offer to sell or to sell a security b…
La. Rev. Stat. § 51:713 Stop orders and injunctions against violations; receivers or auditors; criminal prosecutions
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§713. Stop orders and injunctions against violations; receivers or auditors; criminal prosecutions A. Whenever it may appear to the commissioner, either upon complaint or otherwise, that any person has engaged in or is engaging in or is about to engage in any act or practice or t…
La. Rev. Stat. § 51:714 Civil liability from sales of securities
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§714. Civil liability from sales of securities A. Any person who violates R.S. 51:712(A) shall be liable to the person buying such security, and such buyer may sue in any court to recover the consideration paid in cash or, if such consideration was not paid in cash, the fair valu…
La. Rev. Stat. § 51:715 Venue of civil or criminal actions
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§715. Venue of civil or criminal actions For the purposes of venue for any civil or criminal action under this Part, any violation of this Part or of any rule, regulation, or order promulgated under this Part shall be considered to have been committed in any parish in which any a…
La. Rev. Stat. § 51:716 Notice of opportunity for hearing; conduct of hearing; issuance of orders
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§716. Notice of opportunity for hearing; conduct of hearing; issuance of orders A. Where the commissioner has issued any order forbidding the sale of securities under R.S. 51:707, he shall promptly send to the issuer of such securities and to all persons who have registered such …
La. Rev. Stat. § 51:717 Appeals
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§717. Appeals An appeal may be taken by any person interested from any final order of the commissioner to the Nineteenth Judicial District Court by filing a petition therein against the commissioner, officially as defendant, within twenty days after notice of the entry of such or…
La. Rev. Stat. § 51:718 Consent to substituted service of process or pleadings; manner of service
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§718. Consent to substituted service of process or pleadings; manner of service Where a consent to service of process is required under this Part, such consent to service of process shall be in the form prescribed by the commissioner, shall be irrevocable, and shall provide that …
La. Rev. Stat. § 51:719 Waiver of rights under chapter or rules and regulations void
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§719. Waiver of rights under chapter or rules and regulations void Any condition, stipulation, or provision binding any person acquiring any security to waive: (1) Compliance with any provision of this Part or of the rules and regulations promulgated under this Part; (2) Any righ…
La. Rev. Stat. § 51:720 Immunity of commissioner from suit
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§720. Immunity of commissioner from suit For any action taken or any proceeding had under this Part or under color of law, the commissioner shall be immune from liability and suit to the same extent that any judge of any court of general jurisdiction in this state would be immune…
La. Rev. Stat. § 51:721 Burden of proving exemption; certificate of compliance or noncompliance as evidence; admissibility of copies of records
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§721. Burden of proving exemption; certificate of compliance or noncompliance as evidence; admissibility of copies of records A. In any action, civil or criminal, where a defense is based upon any exemption provided for in this Part, the burden of proving the existence of the exe…
La. Rev. Stat. § 51:722 Savings provisions as to prior law
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§722. Savings provisions as to prior law A. Prior law exclusively governs all suits, actions, prosecutions, or proceedings which are pending or may be initiated on the basis of facts or circumstances occurring under prior law except that no civil suit or action may be maintained …
La. Rev. Stat. § 51:723 Violations; penalties; institution of criminal proceedings
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§723. Violations; penalties; institution of criminal proceedings A. Any person who willfully violates any provision of this Part shall be guilty of a felony and upon conviction shall be punished by a fine of not more than ten thousand dollars or by imprisonment at hard labor for …
La. Rev. Stat. § 51:724 Fees and expenses
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§724. Fees and expenses All fees and charges payable under the provisions of this Part and rules promulgated thereunder, shall be collected by the commissioner, shall be nonrefundable and shall be immediately transmitted by him to the state treasurer. Acts 1985, No. 722, §1; Acts…
La. Rev. Stat. § 51:731 Short title
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§731. Short title This Part shall be known and may be cited as the "Louisiana Protection of Vulnerable Adults from Financial Exploitation Law". Acts 2016, No. 580, §1, eff. Jan. 1, 2017.
La. Rev. Stat. § 51:732 Definitions
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§732. Definitions As used in this Part the following terms have the respective meanings, unless the context clearly indicates otherwise: (1) "Adult protection agency" means: (a) The office of elderly affairs in the office of the governor, for any individual sixty years of age or …
La. Rev. Stat. § 51:733 Actions and immunities
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§733. Actions and immunities A. If a qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the qualified individual may notify the appropriate adult protection agency and the co…
La. Rev. Stat. § 51:734 Third-party disclosures and immunity
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§734. Third-party disclosures and immunity A. If a qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, a qualified individual may notify any third party previously designated …
La. Rev. Stat. § 51:735 Delaying disbursements and immunity
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§735. Delaying disbursements and immunity A. A dealer or investment advisor may delay disbursement from an account of an eligible adult or an account on which an eligible adult is a beneficiary, if all of the following conditions are met: (1) The dealer, investment advisor, or qu…
La. Rev. Stat. § 51:736 Receipt of notice and immunity
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§736. Receipt of notice and immunity No claim may be brought against the adult protection agency, commissioner of securities, office of financial institutions, or the state of Louisiana in connection with receipt or response to any notice of financial exploitation. Acts 2016, No.…
La. Rev. Stat. § 51:737 Records
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§737. Records A. A dealer or investment advisor shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to an adult protection agency, commissioner of securities, and to law enforcement, either as pa…
La. Rev. Stat. § 51:738 Rulemaking
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§738. Rulemaking The commissioner of securities shall have the power to make such rules and regulations in accordance with the Administrative Procedure Act as he may deem necessary to carry out the provisions of this Title, including the use of a senior-specific certification or …
La. Rev. Stat. § 51:761 Manufacturers; stamping of certain information on boot or shoe required
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§761. Manufacturers; stamping of certain information on boot or shoe required No person shall use in manufacturing any boot or shoe, a counter, heel, in-sole, out-sole, middle-sole or slip-sole, made in whole or in part of leather-board, straw-board, leatheroid, fibre-board, horn…
La. Rev. Stat. § 51:762 Dealers; sale unlawful if boot or shoe unstamped
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§762. Dealers; sale unlawful if boot or shoe unstamped No person shall sell, offer or expose for sale, any boot or shoe with a counter, heel, in-sole, out-sole, middle-sole or slip-sole, made in whole or in part, of leather-board, straw-board, leatheroid, fibre-board, horn-fibre,…
La. Rev. Stat. § 51:763 Penalty
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§763. Penalty Whoever violates this Part shall be fined not more than two hundred and fifty dollars, and in default of payment imprisoned for not more than sixty days.
La. Rev. Stat. § 51:764 Exemptions
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§764. Exemptions Nothing in this Part shall apply to: (1) What is commonly known as a rubber boot or shoe, or to the use of a rubber heel on a boot or shoe; or (2) The use of steel, wood or other substance as an inside filler in the shank of a boot or shoe; or (3) The use of cork…
La. Rev. Stat. § 51:771 Definitions
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§771. Definitions As used in this Part, the following terms have the following meanings: (1) "Cosmetic" means either of the following: (a) Articles intended to be applied to or introduced into the human body or any part thereof for purposes of cleansing, beautifying, promoting at…
La. Rev. Stat. § 51:772 Prohibition on the sale or offer for sale of certain cosmetics
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§772. Prohibition on the sale or offer for sale of certain cosmetics Notwithstanding any provision of law to the contrary, it is unlawful for a manufacturer to sell or offer for sale in this state a cosmetic that utilized cosmetic animal testing during the development or manufact…
La. Rev. Stat. § 51:773 Exemptions
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§773. Exemptions A. The provisions of this Part shall not apply to the following instances of cosmetic animal testing: (1) Cosmetic animal testing conducted outside of the United States as required by a foreign regulatory authority, provided that no evidence derived from the test…
La. Rev. Stat. § 51:774 Political subdivisions; prohibition
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§774. Political subdivisions; prohibition No parish or political subdivision of this state shall establish or continue any prohibition on or relating to cosmetic animal testing, as defined in this Part, that is not identical to the prohibitions set forth in this Part. Acts 2022, …
La. Rev. Stat. § 51:775 Penalties
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§775. Penalties A manufacturer that sells or offers for sale a cosmetic in violation of this Part commits a civil violation punishable by a fine of not more than one thousand dollars for the first day of each violation and an additional fine of five hundred dollars for each day t…
La. Rev. Stat. § 51:776 Severability
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§776. Severability If any provision of this Part is held invalid, or if its application to any person or circumstance is held invalid, such invalidity does not affect other provisions or applications which can be given effect without the invalid provision or application. Acts 202…
La. Rev. Stat. § 51:781 Repealed by Acts 2003, No
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§781. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:782 Repealed by Acts 2003, No
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§782. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:783 Repealed by Acts 2003, No
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§783. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:784 Repealed by Acts 2003, No
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§784. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:784.1 Repealed by Acts 2003, No
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§784.1. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:785 Repealed by Acts 2003, No
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§785. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.
La. Rev. Stat. § 51:785.1 Repealed by Acts 2003, No
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§785.1. Repealed by Acts 2003, No. 139, §3, eff. May 28, 2003.