Chapter 80A — Section 102; Definitions

80A.01 This section was repealed by Laws 2006, chapter 196. It no longer contains operative statutory text. 80A.02 This section was repealed by Laws 2006, chapter 196. It no longer contains operative statutory text. 80A.03 This section was repealed by Laws 2006, chapter 196. It no longer contains operative statutory text. 80A.04 This section was repealed by Laws 2006, chapter 196. It no longer contains operative statutory text. 80A.041 This section was repealed by Laws 2006, chapter 196. It no longer contains operative statutory text. 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: it may be cited as the "Minnesota Securities Act." This is the official … 80A.41 Section 102; Definitions This section defines the key terms used throughout Minnesota's securities law (chapter 80A), setting out 40 numbered … 80A.42 Section 103; References to Federal Statutes This section explains that when Minnesota's securities law refers to a named federal statute (such as the Securities Act … 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 sets how Minnesota's securities law interacts with the federal Electronic Signatures in Global and National … 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 makes it unlawful to do business in Minnesota as an investment adviser or investment adviser representative … 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 how a broker-dealer or investment adviser handles changes to its registration. One firm may succeed … 80A.63 Section 408; Termination of Employment or Association of Agent and Transfer of Employment or Association This section sets rules for when a securities agent leaves a broker-dealer or issuer and when an agent moves to a new … 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 withdraws their registration in Minnesota. A … 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 authorizes a rule or order under the chapter to require the filing of sales and advertising materials for … 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 provides that filing or registering a security, person, application, or notice does not mean the … 80A.74 Section 507; Qualified Immunity This section gives qualified immunity from defamation claims to a broker-dealer, agent, investment adviser, federal … 80A.75 Section 508; Criminal Penalties This section sets criminal penalties for securities violations. A person who willfully violates the chapter, a rule, or … 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 lets a party who may be liable for a securities violation cut off a civil lawsuit under section 80A.76 by … 80A.78 Section 601; Administration This section makes the administrator responsible for administering Minnesota's securities act. It bars the administrator … 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 A broker-dealer generally cannot require one of its agents to carry errors and omissions insurance from a specific …