Title 51, Sales and Exchanges

1. The prohibitions in section 51-23-03 do not apply to the following: a. An account, agreement, or transaction within the exclusive jurisdiction of the commodity futures trading commission as granted under the Commodity Exchange Act. b. A commodity contract for the purchase of o…

1. No person may engage in a trade or business or otherwise act as a commodity merchant unless such person: a. Is registered or temporarily licensed with the commodity futures trading commission for each activity constituting such person as a commodity merchant and such registrat…

No person may, directly or indirectly: 1. Cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme, or artifice to defraud any other person; 2. Make any false report, enter any false record, or make any untrue statement of a material fact or…

1. The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, corporation, limited liability company, or trust within the scope of the person's employment or office must be deemed the act, omission, or failure of suc…

Nothing in this chapter impairs, derogates, or otherwise affects the authority or powers of the commissioner under the Securities Act of 1951 or the application of any provision thereof to any person or transaction subject thereto.

This chapter may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts, and to maximize coordination with federal and other states' law and the administration and …

1. The commissioner may make investigations, within or without this state, as the commissioner finds necessary or appropriate to: a. Determine whether any person has violated, or is about to violate, any provision of this chapter or any rule or order of the commissioner. b. Aid i…

1. If the commissioner believes, whether or not based upon an investigation conducted under section 51-23-11, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, the com…

1. a. Upon a proper showing by the commissioner that a person has violated, or is about to violate, any provision of this chapter or any rule or order of the commissioner, the district court of Burleigh County, North Dakota, may grant appropriate legal or equitable remedies. b. U…

1. Any person who willfully violates any provision of this chapter, or any rule or order of the commissioner under this chapter, is guilty of a class B felony. 2. Any person convicted of violating a rule or order under this chapter may be fined, but may not be imprisoned, if the …

1. This chapter must be administered by the insurance commissioner. 2. Neither the commissioner nor any employees of the commissioner may use any information which is filed with or obtained by the commissioner which is not public information for personal gain or benefit, nor may …

1. To encourage uniform application and interpretation of this chapter and securities regulation and enforcement in general, the commissioner and the employees of the commissioner may cooperate, including bearing the expense of the cooperation, with the securities agencies or adm…

1. In addition to specific authority granted elsewhere in this chapter, the commissioner may make, amend, and rescind rules and orders as are necessary to carry out the provisions of this chapter. 2. No provision of this chapter imposing any liability applies to any act done or o…

When a person, including a nonresident of this state, engages in conduct prohibited or made actionable by this chapter or any rule or order of the commissioner, the engaging in the conduct constitutes the appointment of the commissioner as the person's attorney to receive service…

1. Sections 51-23-03, 51-23-06, and 51-23-07 apply to persons who sell or offer to sell when an offer to sell is made in this state or an offer to buy is made and accepted in this state. 2. Sections 51-23-03, 51-23-06, and 51-23-07 apply to persons who buy or offer to buy when an…

1. The commissioner shall commence an administrative proceeding under this chapter by entering either a notice of intent to do a contemplated act or a summary order. The notice of intent or summary order may be entered without notice, without opportunity for hearing, and need not…

It is not necessary to negative any of the exemptions of this chapter in any complaint, information, or indictment, or any writ or proceeding brought under this chapter and the burden of proof of any such exemption is upon the party claiming the same.

It is a defense in any complaint, information, indictment, or any writ or proceeding brought under this chapter alleging a violation of section 51-23-03 based solely on the failure in an individual case to make physical delivery within the applicable time period under subsection …

Every sale or contract for sale made in violation of this chapter, or of any rule or order issued by the commissioner under this chapter, is voidable at the election of the purchaser. The person making a sale or contract for sale, and every director, officer, salesperson, or agen…