Chapter 80A — Section 102; Definitions

80A.01 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.02 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.03 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.04 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.041 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.05 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.06 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.07 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.08 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.09 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.10 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.11 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.115 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.12 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.122 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.125 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.13 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.14 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.15 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.16 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.17 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.18 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.19 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.20 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.21 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.22 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.23 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.24 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.25 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.26 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.27 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.28 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.29 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.30 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.31 This section was part of the former Minnesota Securities Act, which was replaced by the Minnesota Uniform Securities Act … 80A.40 Section 101; Short Title This section gives the short title of the law: the Minnesota Uniform Securities Act of 2007. This act replaced the … 80A.41 Section 102; Definitions This section defines key terms used throughout the Minnesota Uniform Securities Act, including what counts as a … 80A.42 Section 103; References to Federal Statutes This section explains that references to federal statutes in the Minnesota securities act mean the federal law as it … 80A.43 Section 104; References to Federal Agencies This section explains that references to federal agencies in the Minnesota securities act include any successor agencies … 80A.44 Section 105; Electronic Records and Signatures This section allows electronic records and signatures to be used for securities filings and transactions under this act. 80A.45 Section 201; Exempt Securities This section lists securities that are exempt from registration requirements. Exempt securities include government … 80A.46 Section 202; Exempt Transactions This section lists transactions that are exempt from securities registration requirements, even though the securities … 80A.461 Mnvest Registration Exemption This section creates the MNvest exemption, which allows small Minnesota businesses to raise money from investors without … 80A.47 Section 203; Additional Exemptions and Waivers This section allows the administrator to create additional exemptions from securities registration by rule or order, and … 80A.48 Section 204; Denial, Suspension, Revocation, Condition, or Limitation of Exemptions This section gives the administrator the power to deny, suspend, revoke, condition, or limit any exemption from … 80A.49 Section 301; Securities Registration Requirement This section makes it illegal to sell a security in Minnesota unless it is registered, exempt, or a federal covered … 80A.50 Section 302; Federal Covered Securities; Small Corporate Offering Registration This section sets rules for federal covered securities sold in Minnesota and creates the Small Corporate Offering … 80A.51 Section 303; Securities Registration by Coordination This section allows securities to be registered in Minnesota by coordination with a federal registration statement filed … 80A.52 Section 304; Securities Registration by Qualification This section allows securities to be registered in Minnesota by qualification, which is a standalone state registration … 80A.53 Section 305; Securities Registration Filings This section sets the filing requirements for securities registration, including what documents and fees must be … 80A.54 Section 306; Denial, Suspension, and Revocation of Securities Registration This section gives the administrator the power to deny, suspend, or revoke a securities registration if there are … 80A.55 Section 307; Waiver and Modification This section allows the administrator to waive or modify securities registration requirements in certain situations. 80A.56 Section 401; Broker-dealer Registration Requirement and Exemptions This section requires broker-dealers to register with the state before doing business in Minnesota. Certain … 80A.57 Section 402; Agent Registration Requirement and Exemptions This section requires agents (salespeople) of broker-dealers and issuers to register before selling securities in … 80A.58 Section 403; Investment Adviser Registration Requirement and Exemptions This section requires investment advisers to register with the state before giving investment advice in Minnesota. … 80A.60 Section 405; Federal Covered Investment Adviser Notice Filing Requirement This section requires federal covered investment advisers to file a notice with Minnesota and pay a fee, even though … 80A.61 Section 406; Registration by Broker-dealer, Agent, Funding Portal, Investment Adviser, and Investment Adviser Representative This section sets the process for registering as a broker-dealer, agent, funding portal, investment adviser, or … 80A.62 Section 407; Succession and Change in Registration of Broker-dealer or Investment Adviser This section covers what happens when a broker-dealer or investment adviser changes its business structure, such as … 80A.63 Section 408; Termination of Employment or Association of Agent and Transfer of Employment or Association This section sets rules for when an agent leaves one broker-dealer and joins another, including notification … 80A.64 Section 409; Withdrawal of Registration of Broker-dealer, Agent, and Investment Adviser This section explains how a broker-dealer, agent, or investment adviser can withdraw their registration in Minnesota. 80A.65 Section 410; Fees and Expenses This section sets the fees and expenses for securities registration and for registering as a broker-dealer, agent, … 80A.66 Section 411; Postregistration Requirements This section sets requirements that securities professionals must meet after they are registered, including … 80A.67 Section 412; Denial, Revocation, Suspension, Withdrawal, Restriction, Condition, or Limitation of Registration This section gives the administrator the power to deny, revoke, suspend, restrict, condition, or limit the registration … 80A.68 Section 501; General Fraud This section prohibits fraud in the sale of securities. It is illegal to make false statements, omit important facts, or … 80A.69 Section 502; Prohibited Conduct in Providing Investment Advice This section prohibits investment advisers from engaging in fraudulent or deceptive conduct when providing investment … 80A.70 Section 503; Evidentiary Burden This section places the burden of proving that a securities exemption or exception applies on the person claiming it. 80A.71 Section 504; Filing of Sales and Advertising Literature This section requires sales and advertising materials for securities to be filed with the administrator for review. 80A.72 Section 505; Misleading Filings This section makes it illegal to file false or misleading documents with the securities administrator. 80A.73 Section 506; Misrepresentations Concerning Registration or Exemption This section makes it illegal to falsely claim that a security is registered or exempt, or that the administrator has … 80A.74 Section 507; Qualified Immunity This section provides qualified immunity for the administrator and staff from liability when performing their duties … 80A.75 Section 508; Criminal Penalties This section sets criminal penalties for securities violations. A person who willfully violates the securities act can … 80A.76 Section 509; Civil Liability This section allows investors who are harmed by securities violations to sue for damages. Sellers of unregistered … 80A.77 Section 510; Rescission Offers This section allows sellers to limit their liability by making a rescission offer to investors, offering to buy back … 80A.78 Section 601; Administration This section establishes the administration of the securities act, including the appointment and powers of the … 80A.79 Section 602; Investigations and Subpoenas This section gives the administrator the power to conduct investigations and issue subpoenas to enforce the securities … 80A.80 Section 603; Civil Enforcement This section allows the administrator to bring civil enforcement actions in court to stop securities violations, freeze … 80A.81 Section 604; Administrative Enforcement This section gives the administrator the power to issue cease-and-desist orders, impose penalties, and take other … 80A.82 Section 605; Rules, Forms, Orders, Interpretative Opinions, and Hearings This section authorizes the administrator to adopt rules, prescribe forms, and issue orders and interpretive opinions to … 80A.83 Section 606; Administrative Files and Opinions This section requires the administrator to maintain files and records, and allows the public to obtain copies of filed … 80A.84 Section 607; Public Records; Confidentiality This section sets rules for which securities records are public and which are confidential. Most filings are public, but … 80A.85 Section 608; Uniformity and Cooperation With Other Agencies This section promotes uniformity in securities regulation by encouraging cooperation between Minnesota and other states' … 80A.86 Section 609; Judicial Review This section gives people the right to seek judicial review of the administrator's decisions in court. 80A.87 Section 610; Jurisdiction This section establishes Minnesota court jurisdiction over securities violations that occur in or are connected to the … 80A.88 Section 611; Service of Process This section sets rules for serving legal process on people in securities cases, including out-of-state service. 80A.89 Section 612; Severability Clause This section says that if any part of the securities act is found to be invalid, the rest of the law remains in effect. 80A.90 Section 703; Application of Act to Existing Proceeding and Existing Rights and Duties This section explains how the current securities act applies to legal proceedings and rights that existed under the … 80A.91 Agent Errors and Omissions Insurance; Choice of Source This section allows securities agents to choose their own source for errors and omissions insurance, rather than being …