Arizona Securities Statutes: A.R.S. Title 44, Chapter 12

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Arizona Law

Arizona Securities Law & Regulations

Arizona Securities Act

A.R.S. Title 44: Chapter 12

Article 1 -	Definitions
44-1801 -	Definitions

Article 2 -	Administrative Personnel
44-1811 -	Director of securities
44-1812 -	Assistant director of securities
44-1813 -	Employment of personnel
44-1814 -	Travel and other necessary expenses of employees
44-1815 -	Cooperation with other securities agencies

Article 3 -	General Administrative Powers
44-1821 -	General rule-making power of commission; delegation of authority; limitation
44-1822 -	Investigations
44-1823 -	Power to require testimony and production of records
44-1824 -	Dealer examination assessment; foreign examination cost; payment
44-1825 -	Contempt; penalty
44-1826 -	No-action requests

Article 4 -	Sale of Securities
44-1841 -	Sale of unregistered securities prohibited; classification
44-1842 -	Transactions by unregistered dealers and salesmen prohibited; classification
44-1843 -	Exempt securities; fee; filing
44-1843.01 -	Nonexempt government securities; covered securities; exemptions
44-1843.02 -	Special filing requirements for certain exempt securities
44-1844 -	Exempt transactions
44-1845 -	Exemption or special registration of certain securities and transactions by commission rule
44-1846 -	Powers of commission to exempt certain securities or transactions
44-1847 -	Power of commission to exempt certain securities or transactions of regulated issuers
44-1848 -	Power of commission to require registration of dealers and salesmen dealing with certain exempt securities or engaging in certain exempt transactions; exemptions
44-1849 -	Real property investment contracts; recording
44-1850 -	Viatical or life settlement investment contracts

Article 5 -	Fees, Form of Consent to Service of Process and Securities Filings
44-1861 -	Fees; deposit; abandonment
44-1862 -	Consent to service of process; service on commission
44-1863 -	Receipt of electronic securities filings

Article 6	Registration of Securities by Description
44-1871 -	Securities that may be registered by description
44-1872 -	Procedure for registration by description; registration statement; consent to service of process
44-1873 -	Recording of registration; effective date of registration; renewal; eligibility of registered securities for sale
44-1874 -	Registration of additional securities by description
44-1875 -	Filing of additional information
44-1876 -	Escrow of certain securities; restrictive sales agreement
44-1877 -	Escrow of treasury stock; restrictive sales agreement
44-1878 -	Impoundment of funds from sale of speculative securities

Article 7 -	Registration of Securities by Qualification
44-1891 -	Registration by qualification
44-1892 -	Documents required for application for registration by qualification; fee
44-1893 -	Application for registration of securities by qualification; contents; accompanying documents; signature and verification
44-1894 -	Prospectus; contents; use of consolidated financial statements; amendment or supplement to prospectus required to show material change
44-1895 -	Preparation of required financial statements
44-1896 -	Substitution of prospectus filed under or complying with standards of form prescribed by or under securities act of 1933 for prospectus required by sections 44-1892 and 44-1894
44-1897 -	Amendment or withdrawal of application, prospectus or other documents
44-1898 -	Registration in securities register of securities complying with requirements for registration by qualification; sale of registered securities authorized; delivery of prospectus to purchasers
44-1899 -	Renewal of registration by qualification
44-1900 -	Registration of additional securities by qualification
44-1901 -	Registration of certain securities by qualification; definitions
44-1902 -	Power of the commission to register certain securities by uniform limited offering registration

Article 8 -	Denial, Revocation or Suspension of Securities by Registration
44-1921 -	Denial of registration by qualification
44-1922 -	Revocation of registration by qualification or description; grounds
44-1923 -	Order denying or revoking registration; notice to issuer and dealers
44-1924 -	Order suspending registration; grounds; hearing; notice

Article 9 -	Registration of Dealers and Salesmen
44-1941 -	Application for registration as dealer; contents; filing; consent to service of process; fee; exemption
44-1942 -	Power of commission or director to require filing of additional information
44-1943 -	Power of commission to require bond from dealer
44-1944 -	Registration in register of dealers and salesmen of applicant complying with requirements
44-1945 -	Application for registration as salesman; filing; contents; exemptions
44-1946 -	Registration in register of dealers and salesmen of applicant complying with requirements
44-1947 -	Register of dealers and salesmen; recording registration and orders; transfer or expiration of registration
44-1948 -	Reporting requirements of dealers and salesmen; real property records
44-1949 -	Duty of dealer to give notice of termination of employment of salesman; automatic suspension of salesman's registration; notice of employment of salesman

Article 10 -	Denial, Revocation or Suspension of Registration as Dealer or Salesman
44-1961 -	Grounds for denial, revocation or suspension of dealer registration
44-1962 -	Denial, revocation or suspension of registration of salesman; grounds
44-1963 -	Entry of order of denial, revocation or suspension
44-1964 -	Temporary suspension orders

Article 11 -	Hearings
44-1971 -	Initiation of hearing; purpose of hearing
44-1972 -	Notice of and opportunity for hearing; time of hearing
44-1973 -	Conduct of hearing
44-1974 -	Rehearings

Article 12 -	Appeals
44-1981 -	Judicial review

Article 13 -	Fraudulent Practices
44-1991 -	Fraud in purchase or sale of securities
44-1992 -	Filing of misleading information with commission
44-1993 -	Misrepresentation of effect of registration of securities
44-1994 -	Misrepresentation of effect of registration of dealers or salesmen
44-1995 -	Violation; classification
44-1996 -	Prohibition of referral fees
44-1997 -	False registration statement; liability
44-1998 -	Offers and sales; liability
44-1999 -	Controlling persons; liability
44-2000 -	Contrary stipulations void

Article 14 -	Civil Remedies and Liabilities
44-2001 -	Voidable sale or contract for sale of securities; remedy
44-2002 -	Remedy for voidable purchases
44-2003 -	Joint and several liability of offending sellers and purchasers; proportionate liability; determination of responsibility; uncollectible share; settlement discharge; limitation on actions; definitions
44-2004 -	Limitation of civil actions
44-2005 -	Remedy not exclusive

Article 15 -	Conservators and Receivers
44-2011 -	Complaint for appointment of conservator or receiver
44-2012 -	Complaint; contents
44-2013 -	Preliminary injunction; appointment of temporary conservator or receiver
44-2014 -	Permanent injunction; permanent conservator or receiver
44-2015 -	Conservator; bond; powers and duties
44-2016 -	Duration of appointment of conservator; distributing assets; winding up affairs of violator
44-2017 -	Compensation of conservators and other personnel

Article 16 -	Enforcement
44-2031 -	Jurisdiction and venue of offenses and actions
44-2032 -	Cease and desist orders; injunctions; civil restitution; prosecutions for violations
44-2033 -	Burden of proof of exemptions
44-2034 -	Evidence of registration or notice filing; lack of registration or notice filing
44-2035 -	Evidence of record of proceedings
44-2036 -	Administrative penalty
44-2037 -	Civil penalties
44-2038 -	Costs recoverable
44-2039 -	Securities regulatory and enforcement fund; purpose
44-2040 -	Violation; classification
44-2041 -	Continuance of prior law for certain purposes

Article 17 -	Capital Markets
44-2042 -	Confidentiality
44-2051 -	Advancement of economic development and capital formation
44-2052 -	Exchange operation; commission rules
44-2053 -	Limitation on liability
44-2054 -	Loans from the commerce and economic development commission fund; repayment; allocation
44-2055 -	Securities public reference rooms
44-2056 -	Free trade

Article 18 -	Private Securities Litigation
44-2081 -	Private securities class action litigation
44-2082 -	Requirements for securities fraud actions involving misleading statements or omissions
44-2083 -	Sanctions for abusive litigation
44-2084 -	Right to written interrogatories
44-2085 -	Limitation on damages; definition
44-2086 -	Attorney fees paid from disgorgement monies; prohibition
44-2087 -	Application of safe harbor for forward looking statements; definitions

Article 19 -	Audits
44-2121 -	Definition of illegal act
44-2122 -	Audit requirements
44-2123 -	Audit discoveries; required responses
44-2124 -	Auditor liability limitation
44-2125 -	Civil penalties in cease and desist proceedings
44-2126 -	Preservation of existing authority

Richard Keyt is a business, transactions, contracts, real estate, estate planning and internet law attorney licensed to practice law in Arizona. He has provided legal services to businesses and people in Arizona since 1980. Formerly a partner at one of the largest law firms in Arizona, Rick now provides big firm quality legal services at small firm rates. Rick can be reached by telephone at 602-906-4953, email at rickkeyt@keytlaw.com and fax at 602-297-6890. Rick's Arizona law, internet, e-commerce and domain name law web site is KEYTLaw, located at www.keytlaw.com. Communicating with Richard Keyt via email or otherwise does not cause you to become a client or cause your communications to be confidential or subject to the attorney client privilege.

KEYTLaw does not guaranty that the Arizona Revised Statutes displayed on www.keytlaw.com are current or complete versions of Arizona statutory law. The statutory information is furnished "as is" and it may not include the current version of the law or new Arizona statutes. See the Arizona State Legislature's web site for more information about the most recent version of Arizona statutes.

This page was last modified on July 22, 2007.

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