Good faith reliance

R.I. Gen. Laws § 7-11-707., under Chapter 7-11 Rhode Island Uniform Securities Act.

R.I. Gen. Laws § 7-11-707.

No provision of this chapter imposing liability applies to an act done or omitted in good faith in conformity with:

(1) A rule or order adopted by the director, notwithstanding that the rule or order is later amended, repealed, or determined by judicial or other authority to be invalid; or

(2) A declaratory order or ruling issued by the director under § 7-11-706.