§ 1-513. Department orders of rescission
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 70 P.S. SecuritiesEffective: August 11, 2014
Effective: August 11, 2014
70 P.S. § 1-513
§ 1-513. Department orders of rescission
After giving notice and opportunity for a hearing, the department, where it has determined that an issuer wilfully violated section 201 or 401,1 may issue an order accompanied by written findings of fact and conclusions of law which requires the issuer or any control person of the issuer who knowingly aided in the act or transaction constituting such violation to effect a rescission offer in a manner which the department by rule or order may prescribe to persons who purchased securities of the issuer in this State involved in the violation. The department shall not issue an order under this section with respect to any public proceeding which was instituted prior to the date of enactment.
Credits
1972, Dec. 5, P.L. 1280, No. 284, § 513, added 1998, Nov. 24, P.L. 829, No. 109, § 23, effective in 60 days. Amended 2014, June 10, P.L. 678, No. 52, § 22, effective in 60 days [Aug. 11, 2014].
Footnotes
70 P.S. § 1-201 or 1-401.
70 P.S. § 1-513, PA ST 70 P.S. § 1-513
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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