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Chapter 21.20 RCW

SECURITIES ACT OF WASHINGTON

RCW Sections

DEFINITIONS
21.20.005Definitions.
FRAUDULENT AND OTHER PROHIBITED PRACTICES
21.20.010Unlawful offers, sales, purchases.
21.20.020Unlawful acts of person advising another.
21.20.030Unlawful acts of investment adviser.
21.20.035Unlawful purchases or sales for customer's account.
VARIABLE CONTRACTS
21.20.037Variable contracts -- Registration required -- Rules.
REGISTRATION AND NOTICE FOR BROKER-DEALERS,

SALESPERSONS, INVESTMENT ADVISERS,

AND INVESTMENT ADVISER SALESPERSONS
21.20.040Registration and notification required -- Exemptions.
21.20.050Application for registration -- Filing of documents -- Consent to service of process -- Fee.
21.20.060Contents of application for registration -- Capital requirements.
21.20.070When registration effective -- Requirements determined by rule.
21.20.080Duration of registration -- Association with issuer, broker-dealer, federal covered adviser, or investment adviser -- Notice to director -- Extension of licensing period.
21.20.090Renewal of registration -- Financial reports -- Application for a successor.
21.20.100Accounts, correspondence, memoranda, papers, books, and other records -- Release of information -- Correction of filed document -- Examination.
21.20.110Director may deny, suspend, revoke, restrict, condition, or limit any application or registration -- Director may censure or fine registrant -- Grounds -- Procedures -- Costs -- Accounting.
21.20.120Denial, suspension, revocation of registration -- Order -- Request for, notice of hearing -- Findings and conclusions.
21.20.130Cancellation of registration or application -- Grounds.
21.20.135License as salesperson or broker-dealer prerequisite to suit for commission.
REGISTRATION OF SECURITIES
21.20.140Unlawful to offer or sell unregistered securities -- Exceptions.
REGISTRATION BY COORDINATION
21.20.180Registration by coordination -- Requirements -- Statement, contents.
21.20.190Time of taking effect of registration statement by coordination -- Conditions -- "Price amendment", notification.
21.20.200Failure to notify of price amendment, proof of compliance -- Stop order -- Waiver of certain conditions.
REGISTRATION BY QUALIFICATION
21.20.210Registration by qualification -- Statements -- Requirements -- Audits.
21.20.220Information not required when nonissuer distribution.
21.20.230Time of taking effect of registration statement by qualification -- Conditions.
GENERAL PROVISIONS REGARDING REGISTRATION

OF SECURITIES
21.20.240Registration statements -- Generally.
21.20.250Registration by qualification or coordination -- Escrow -- Impounding proceeds.
21.20.260Registration by coordination or qualification -- Offer and sale -- Duration of effectiveness.
21.20.270Reports by filer of statement -- Annual financial statements.
21.20.275Pending registration -- Notice of termination -- Application for continuation.
DENIAL, SUSPENSION AND REVOCATION

OF REGISTRATION OF SECURITIES
21.20.280Stop orders -- Grounds.
21.20.290Stop order prohibited if facts known on effective date of statement.
21.20.300Notification of entry of stop order -- Hearing -- Findings, conclusions, modification, etc.
EXEMPT SECURITIES
21.20.310Securities exempt from registration.
EXEMPT TRANSACTIONS
21.20.320Exempt transactions.
EXEMPT SECURITIES AND TRANSACTIONS
21.20.325Denial, revocation, condition, of exemptions -- Authority -- Procedure.
FEDERAL COVERED SECURITY
21.20.327Required filings -- Consent to service -- Failure to comply -- Rules -- Fees.
CONSENT TO SERVICE OF PROCESS
21.20.330Consent to service of process -- Service, how made.
FEES
21.20.340Fees -- Disposition.
MISLEADING FILINGS
21.20.350False or misleading statements in filed documents.
UNLAWFUL REPRESENTATIONS CONCERNING REGISTRATION

OR EXEMPTION
21.20.360Filing, registration, statement, exemption not conclusive as to truth or completeness -- Unlawful representations.
INVESTIGATIONS AND SUBPOENAS
21.20.370Investigations -- Statement of facts relating to investigation may be permitted -- Publication of information -- Use of criminal history record information.
21.20.377Subpoena authority -- Application -- Contents -- Notice -- Fees.
21.20.380Oaths -- Subpoenas -- Assisting another state -- Compelling obedience -- Punishment.
INJUNCTIONS AND OTHER REMEDIES
21.20.390Injunction, cease and desist order, restraining order, mandamus -- Appointment of receiver or conservator for insolvent -- Restitution or damages -- Costs -- Accounting.
21.20.395Administrative action -- Hearing -- Judicial review -- Judgment.
CRIMINAL LIABILITIES
21.20.400Penalty for violation of chapter -- Limitation of actions (as amended by 2003 c 288).
21.20.400Penalty for violation of chapter -- Limitation of actions (as amended by 2003 c 53).
21.20.410Attorney general, prosecuting attorney may institute criminal proceeding -- Referral of evidence by director.
21.20.420Criminal punishment, chapter not exclusive.
CIVIL LIABILITIES
21.20.430Civil liabilities -- Survival, limitation of actions -- Waiver of chapter void -- Scienter.
DISCONTINUANCE OF VIOLATIONS
21.20.435Assurance of discontinuance of violations -- Acceptance -- Filing.
JUDICIAL REVIEW OF ORDERS
21.20.440Judicial review of order -- Modification of order by director on additional evidence.
ADMINISTRATION OF CHAPTER
21.20.450Administration of chapter -- Rules and forms, publication -- Cooperation with other state and federal authorities.
21.20.460Administrator of securities -- Appointment, qualifications, term, etc.
21.20.470Compensation, travel expenses of administrator and employees.
21.20.480Unlawful use or disclosure of filed information.
21.20.490No liability under chapter for act in good faith.
21.20.500Administrative hearings public -- Exception.
21.20.510Document filed when received -- Register -- Inspection of register, information, etc.
21.20.520Copies of entries, documents to be furnished -- Copies as prima facie evidence.
21.20.530Interpretative opinions by director.
PROOF OF EXEMPTION
21.20.540Exemptions, exceptions, and preemptions -- Burden of proof.
ADDITIONAL PROVISIONS
21.20.700Investigations and examinations -- Additional authority -- Scope.
21.20.702Suitability of recommendation--Reasonable grounds required.
21.20.705Debenture companies -- Definitions.
21.20.710Debenture companies -- Capital requirements.
21.20.715Debenture companies -- Maturity date requirements.
21.20.717Debenture companies -- Controlling person -- Exceptions.
21.20.720Debenture companies -- Prohibited activities by directors, officers, or controlling persons.
21.20.725Debenture companies -- Debentures payable on demand--Interest--Certificates of debenture.
21.20.727Debenture companies -- Acquisition of control -- Requirements -- Violation -- Penalty.
21.20.730Debenture companies -- Acquisition of control -- Grounds for disapproval.
21.20.732Debenture companies -- Notice of charges -- Hearing -- Cease and desist orders.
21.20.734Debenture companies -- Temporary cease and desist orders.
21.20.740Reports -- Requirements.
21.20.745Reports -- Violations of reporting requirements -- Penalties -- Contribution.
21.20.750Reports -- Suspension of sale of securities until reporting requirements complied with.
21.20.800Severability -- 1973 1st ex.s. c 171.
21.20.805Effective date -- Construction -- 1973 1st ex.s. c 171.
21.20.810Application of chapter not limited.
21.20.815Debenture companies -- Equity investments.
21.20.820Debenture companies -- Loans to any one borrower -- Limitations.
21.20.825Debenture companies -- Bad debts.
21.20.830Debenture companies -- Investments in unsecured loans.
21.20.835Debenture companies -- Debenture holders -- Notice of maturity date of debenture.
21.20.840Debenture companies -- Annual financial statement.
21.20.845Debenture companies -- Rules.
21.20.850Debenture companies -- Record maintenance and preservation -- Examination.
21.20.855Debenture companies -- Examination reports and information -- Exempt from public disclosure -- Use in civil actions.
21.20.860Construction -- Chapter applicable to state registered domestic partnerships -- 2009 c 521.
STATUTORY POLICY
21.20.900Construction to secure uniformity.
SEVERABILITY OF PROVISIONS
21.20.905Severability -- 1959 c 282.
REPEAL AND SAVING PROVISIONS
21.20.910Saving -- Civil, criminal proceedings.
21.20.915Saving -- Prior effective registrations.
21.20.920Application of prior law.
21.20.925Judicial review of prior administrative orders.
21.20.930Solicitation permits under insurance laws not limited.
21.20.935Repealer.
SHORT TITLE
21.20.940Short title.

Notes:

     Reviser's note: Powers, duties, and functions of the department of licensing relating to securities were transferred to the department of financial institutions by 1993 c 472, effective October 1, 1993. See RCW 43.320.011.

"Bucket shop": RCW 9.47.080, 9.47.090.

Business corporations: Title 23B RCW.

Camping resort contracts -- Nonapplicability of certain laws to: RCW 19.105.510.

Corporate seals, effect of nonuse: RCW 64.04.105.

Exemption of timeshares from chapter: RCW 64.36.290.

False stock subscriptions: RCW 9.24.010.

Fraudulent issue of stock: RCW 9.24.020.

Life settlements: Chapter 48.102 RCW.

Negotiable instruments: Title 62A RCW.

Permit to sell stock of domestic insurance company: Chapter 48.06 RCW.

Public service company securities: Chapter 81.08 RCW.

Sale of capital notes and debentures by banks and trust companies: Chapter 30.36 RCW.

Securities of public utilities: Chapter 80.08 RCW.

Trust receipts: Title 62A RCW.

Uniform Commercial Code -- Investment securities: Article 62A.8 RCW.

Written statement of purchase or sale to be furnished market trader: RCW 9.47.100.