Statute of Frauds Inapplicable

Statute of Frauds Inapplicable. A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one (1) year of its making. Added by Laws 1995, c. 242, § 13, eff. Feb. 1, 1996.