Title 21 — Title 21 SECURITIES AND INVESTMENTS
4 chapters · 144 sections in this title.
RCW 21.20.440 Judicial review of order—Modification of order by director on additional evidence.
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Any person aggrieved by a final order of the director may obtain a review of the order in the county in which that person resides or in any other court of competent jurisdiction by filing in court, within sixty days after the entry of the order, a written petition praying that th…
RCW 21.20.450 Administration of chapter—Rules and forms, publication—Cooperation with other state and federal authorities.
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(1) The administration of the provisions of this chapter shall be under the department of financial institutions. The director may from time to time make, amend, and repeal such rules, forms, and orders as are necessary to carry out the provisions of this chapter, including rules…
RCW 21.20.460 Administrator of securities—Appointment, qualifications, term, etc.
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The director shall appoint a competent person to administer this chapter who shall be designated administrator of securities. The director shall delegate to the administrator such powers, subject to the authority of the director, as may be necessary to carry out the provisions of…
RCW 21.20.470 Compensation, travel expenses of administrator and employees.
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The administrator, and any person employed by the administrator, shall be paid, in addition to regular compensation, travel expenses incurred by each of them in the performance of their duties under this chapter in accordance with RCW 43.03.050 and 43.03.060 as now existing or he…
RCW 21.20.480 Unlawful use or disclosure of filed information.
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It is unlawful for the director or any of the director's officers or employees to use for personal benefit any information which is filed with or obtained by the director and which is not made public. The director or any of the director's officers or employees shall not disclose …
RCW 21.20.490 No liability under chapter for act in good faith.
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No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form, or order of the director, notwithstanding that the rule or form may later be amended or rescinded or be determined by judicial or other authorit…
RCW 21.20.500 Administrative hearings public—Exception.
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Every hearing in an administrative proceeding shall be public unless the director in his or her discretion grants a request joined in by all the respondents that the hearing be conducted privately.[ 1979 ex.s. c 68 s 36; 1959 c 282 s 50.]
RCW 21.20.510 Document filed when received—Register—Inspection of register, information, etc.
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A document is filed with the director when it is received by the director or by a person as the director designates by rule or order. The director or the director's designee shall keep a register of all applications for registration and registration statements which are or have e…
RCW 21.20.520 Copies of entries, documents to be furnished—Copies as prima facie evidence.
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Upon request and at such reasonable charges as the director prescribes, the director shall furnish to any person photostatic or other copies (certified under his or her seal of office if requested) of any entry in the register or any document which is a matter of public record. I…
RCW 21.20.530 Interpretative opinions by director.
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The director in his or her discretion may honor requests from interested persons for interpretative opinions.[ 1979 ex.s. c 68 s 38; 1959 c 282 s 53.]
RCW 21.20.540 Exemptions, exceptions, and preemptions—Burden of proof.
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In any proceeding under this chapter, the burden of proving an exemption, an exception from a definition, or a preemption of a provision of this chapter is upon the person claiming it.[ 1998 c 15 s 21; 1959 c 282 s 54.]
RCW 21.20.700 Investigations and examinations—Additional authority—Scope.
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(1) In addition to the authority conferred in RCW 21.20.370 the director at any time during a public offering whether registered or not, or one year thereafter or at any time that any debt or equity securities which have been sold to the public pursuant to registration under this…
RCW 21.20.702 Suitability of recommendation—Reasonable grounds required.
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(1) In recommending to a customer the purchase, sale, or exchange of a security, a broker-dealer, salesperson, investment adviser, or investment adviser representative must have reasonable grounds for believing that the recommendation is suitable for the customer upon the basis o…
RCW 21.20.810 Application of chapter not limited.
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Nothing in RCW 21.20.700, 21.20.702, or 21.20.855 limits the application of other provisions of this chapter.[ 2020 c 151 s 1; 1988 c 244 s 7.]Notes:Severability—Effective date—Implementation—Application—1988 c 244: See notes following RCW 21.20.700.
RCW 21.20.855 Examination reports and information—Exempt from public disclosure—Use in civil actions.
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(1) Examination reports and information obtained by the director or the director's representatives in conducting examinations pursuant to RCW 21.20.700 shall not be subject to public disclosure under chapter 42.56 RCW.(2) In any civil action in which the reports are sought to be …
RCW 21.20.860 Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
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For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to …
RCW 21.20.880 Small securities offerings—Exemptions—Annual reports—Disqualification provisions—Rules.
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(1) Any offer or sale of a security is exempt from RCW 21.20.040 through 21.20.300 and 21.20.327, except as expressly provided, if:(a) The issuer first files the offering with the director and the director declares the offering exempt;(b) The offering is conducted in accordance w…
RCW 21.20.900 Construction to secure uniformity.
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This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of this chapter with the related federal regulation.[ 1959 c 282 s 61.]
RCW 21.20.910 Saving—Civil, criminal proceedings.
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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 before the effective date of this chapter, except that no civil suit or action may be maintained to enforce any li…
RCW 21.20.915 Saving—Prior effective registrations.
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All effective registrations under prior law and all conditions imposed upon such registrations remain in effect so long as they would have remained in effect if they had become effective under this chapter. They are considered to have been filed, entered, or imposed under this ch…
RCW 21.20.920 Application of prior law.
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Prior law applies in respect to any offer or sale made within one year after the *effective date of this chapter pursuant to an offering begun in good faith before its effective date on the basis of an exemption available under prior law.[ 1959 c 282 s 65.]Notes:*Reviser's note: …
RCW 21.20.925 Judicial review of prior administrative orders.
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Judicial review of all administrative orders as to which review proceedings have not been instituted by the *effective date of this chapter are governed by RCW 21.20.440 except that no review proceeding may be instituted unless the petition is filed within any period of limitatio…
RCW 21.20.930 Solicitation permits under insurance laws not limited.
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Nothing in this chapter shall in any way limit the provisions of RCW 48.06.030.[ 1959 c 282 s 67.]
RCW 21.20.935 Repealer.
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The following acts and parts of acts are hereby repealed:(1) Chapter 69, Laws of 1923; chapter 97, Laws of 1935; chapter 182, Laws of 1937; chapter 124, Laws of 1939; chapter 169, Laws of 1943; chapter 231, Laws of 1943; chapter 189, Laws of 1947; chapter 150, Laws of 1949; chapt…
RCW 21.20.940 Short title.
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This chapter shall be known as "The Securities Act of Washington."[ 1959 c 282 s 69.]
RCW 21.30.005 Intent.
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The legislature intends that this chapter, and any rules, regulations, or orders promulgated pursuant hereto, apply to transactions in commodities which constitute commodity contracts or commodity options as defined in this chapter, unless the context clearly requires otherwise.[…
RCW 21.30.010 Definitions.
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Administrator" means the person designated by the director in accordance with the provisions of RCW 21.30.390.(2) "Board of trade" means any person or group of person…
RCW 21.30.020 Transactions involving commodity contract or option—Prohibition—Exceptions.
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Except as otherwise provided in RCW 21.30.030 and 21.30.040, no person may sell or purchase or offer to sell or purchase any commodity under any commodity contract or under any commodity option or offer to enter into or enter into as seller or purchaser any commodity contract or …
RCW 21.30.030 Transactions conducted by certain persons exempt from prohibition under RCW 21.30.020.
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The prohibition in RCW 21.30.020 does not apply to any transaction offered by and in which any of the following persons (or any employee, officer, or director thereof acting solely in that capacity) is the purchaser or seller:(1) A person registered with the commodity futures tra…
RCW 21.30.040 Transactions and contracts exempt from prohibition under RCW 21.30.020—Rules.
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(1) The prohibition in RCW 21.30.020 does 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 on…
RCW 21.30.050 Commodity merchants—Place for trading commodity contract or option—Requirements.
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(1) No person may engage in a trade or business or otherwise act as a commodity merchant unless the person (a) is registered or temporarily licensed with the commodity futures trading commission for each activity constituting the person as a commodity merchant and the registratio…
RCW 21.30.060 Prohibited practices.
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No person may directly or indirectly, in or in connection with the purchase or sale of, the offer to sell, the offer to enter into, or the entry into of, any commodity contract or commodity option subject to RCW 21.30.020, 21.30.030, 21.30.040(1)(b), or 21.30.040(1)(d):(1) Cheat …
RCW 21.30.070 Responsibility for acts or omissions—Liability—Burden of proof.
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(1) The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, corporation, or trust within the scope of the person's employment or office shall be deemed the act, omission, or failure of such individual, association…
RCW 21.30.080 Offers to sell or buy in this state—Application of RCW 21.30.020, 21.30.050, and 21.30.060.
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(1) RCW 21.30.020, 21.30.050, and 21.30.060 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) RCW 21.30.020, 21.30.050, and 21.30.060 apply to persons who buy or offer to buy when an of…
RCW 21.30.090 When publications or electronic communications not deemed offers to sell or buy in this state.
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(1) For the purpose of RCW 21.30.080, an offer to sell or to buy is not made in this state when the publisher circulates or there is circulated on his or her behalf in this state in any bona fide newspaper or other publication of general, regular, and paid circulation, which is n…
RCW 21.30.100 Investigations—Statements—Publication of information.
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The director in the director's discretion:(1) May make such public or private investigations, within or without the state, as the director finds necessary or appropriate to determine whether any person has violated, or is about to violate, any provision of this chapter or any rul…
RCW 21.30.107 Subpoena authority—Application—Contents—Notice—Fees.
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(1) The director or authorized assistants may apply for and obtain a superior court order approving and authorizing a subpoena in advance of its issuance. The application may be made in the county where the subpoenaed person resides or is found, or the county where the subpoenaed…
RCW 21.30.110 Investigations—Evidence—Subpoenas—Court orders of compliance.
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(1) For purposes of any investigation or proceeding under this chapter, the director or any officer or employee designated by the director, may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, …
RCW 21.30.120 Violations—Director's authority—Court actions—Penalties.
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(1) If the director believes, whether or not based upon an investigation conducted under RCW 21.30.100 or 21.30.110, that a person has engaged or is about to engage in an act or practice constituting a violation of this chapter or any rule or order hereunder, the director may:(a)…
RCW 21.30.130 Violations—Court-ordered remedies—Penalties—Bond by director not required.
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(1)(a) Upon a proper showing by the director that a person has violated, or is about to violate, this chapter or any rule or order of the department, the superior court may grant appropriate legal or equitable remedies.(b) Upon showing of violation of this chapter or a rule or or…
RCW 21.30.140 Willful violations—Penalty—Limitation on actions.
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A person who willfully violates this chapter, or who willfully violates a rule or order under this chapter, is guilty of a class B felony and shall upon conviction be fined not more than twenty thousand dollars or imprisoned not more than ten years, or both. However, no person ma…
RCW 21.30.150 No liability under chapter for act in good faith.
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No provision of this chapter imposing any liability applies to any act done or omitted in good faith in conformity with a rule, order, or form adopted by the director, notwithstanding that the rule, order, or form may later be amended, or rescinded, or be determined by judicial o…
RCW 21.30.160 Unlawful use or disclosure of information.
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Neither the director nor any employee of the director shall use any information which is filed with or obtained by the department which is not public information for personal gain or benefit, nor shall the director nor any employee of the director conduct any securities or commod…
RCW 21.30.170 Information—Availability to public—Exceptions.
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(1) All information collected, assembled, or maintained by the director under this chapter is public information and is available for the examination of the public as provided by chapter 42.56 RCW except the following:(a) Information obtained in private investigations pursuant to…
RCW 21.30.180 Cooperation with other agencies or organizations.
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(1) To encourage uniform application and interpretation of this chapter and securities and commodities regulation and enforcement in general, the director and the employees of the director may cooperate, including bearing the expense of the cooperation, with the securities agenci…
RCW 21.30.190 Consent for service of process—Service, how made.
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(1) Every applicant for registration under this chapter or person filing a claim of exemption under RCW 21.30.030(7) shall file with the administrator in such form as the administrator by rule prescribes, an irrevocable consent appointing the administrator or successor in office …
RCW 21.30.200 Administrative proceedings—Summary order—Notice—Hearing—Final order.
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(1) The director shall commence an administrative proceeding under this chapter by entering either a statement of charges or a summary order. The statement of charges or summary order may be entered without notice, without opportunity for hearing, and need not be supported by fin…
RCW 21.30.210 Application of chapter 34.05 RCW, the administrative procedure act.
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Chapter 34.05 RCW applies to an administrative proceeding carried out by the director under this chapter unless otherwise provided in this chapter.[ 1986 c 14 s 22.]
RCW 21.30.220 Pleading exemptions or exceptions—Burden of proof.
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It shall not be necessary to negate any of the exemptions, or exceptions from a definition, 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 or exception from a defini…
RCW 21.30.230 Application for licensing.
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An applicant for licensing as a commodity broker-dealer or commodity sales representative shall file with the administrator or the designee of the administrator an application for licensing together with a consent to service of process pursuant to RCW 21.30.190. The application f…