(a) Sections 31-5602.01, 31-5603.01, 31-5605.01, or 31-5605.02, 31-5605.05, and 31-5606.05 shall apply to a person who sells, or offers to sell, when an offer to sell is made in the District or an offer to purchase is made and accepted in the District.
(b) Sections 31-5602.01, 31-5605.01, or 31-5605.02, and 31-5605.05 shall apply to a person who purchases, or offers to purchase, when an offer to purchase, is made in the District or an offer to sell is made and accepted in the District.
(c) For the purpose of this section, an offer to sell or to purchase is made in the District, whether or not either person is present in the District, if the offer originates in the District, or is directed by the offeror to a destination in the District and received where it is directed or at a post office in the District if the offer is mailed.
(d) For the purpose of this section, an offer to purchase or to sell is accepted in the District if the acceptance is communicated to the offeror in the District and has not previously been communicated to the offeror, orally or in writing, outside the District. The acceptance is communicated to the offeror in the District, whether or not either party is then present in the District, when the offeree directs it to the offeror in the District reasonably believing the offeror to be in the District and it is received at the place to which it is directed or at any post office in the District in the case of a mailed acceptance.
(e) An offer to sell or purchase is not made in the District when the publisher circulates, or there is circulated on the publisher's behalf, in the District a bona fide newspaper or other publication of general, regular, and paid circulation which is not published in the District, or which is published in the District, but has had more than 2/3 of its circulation outside the District during the last 12 months, or a radio or television program originating outside the District is received in the District.
(Oct. 26, 2000, D.C. Law 13-203, § 801, 47 DCR 7837.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-203, see notes following § 31-5601.01.
(a) The Mayor shall appoint a District of Columbia Advisory Committee which shall consist of 6 members who shall be residents of the District, Maryland, or Virginia, at least 2 of whom shall be actively engaged in the securities business and at least 2 of whom shall be members of the bar of the District of Columbia.
(b) No more than 3 members of the Advisory Committee shall be members of the same political party. The members shall be selected on the basis of their experience and qualifications to advise the Commissioner on all phases of the securities business.
(c) Members of the Advisory Committee shall be appointed for staggered terms of 3 years each, with 2 members appointed each year, to serve without compensation and eligible for reappointment for additional terms. Of the first members appointed hereunder, 2 shall be appointed for one year, 2 shall be appointed for 2 years, and 2 shall be appointed for 3 years, as designated by the Mayor at the time of their appointment.
(d) The members of the Advisory Committee shall select their own chairperson. Meetings of the Advisory Committee shall be held when called by the Commissioner.
(e) The Advisory Committee shall give the Commissioner the benefit of its advice on any and all matters pertaining to the administration of this chapter, particularly the adoption, amendment of repeal of rules, regulations, and forms.
(Oct. 26, 2000, D.C. Law 13-203, § 802, 47 DCR 7837.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-203, see notes following § 31-5601.01.
(b) The filing of an appeal under this section shall not stay the application of a rule, regulation, order, or other action of the Commissioner to the appealing party unless the court, after giving the appealing party notice and an opportunity to be heard, determines that failure to grant a stay would be detrimental to the interest of policyholders, shareholders, creditors, or the public.
(Oct. 26, 2000, D.C. Law 13-203, § 803, 47 DCR 7837; June 19, 2001, D.C. Law 13-313, § 22, 48 DCR 1873; June 25, 2002, D.C. Law 14-150, § 2(m), 49 DCR 4238.
HISTORICAL AND STATUTORY NOTES
Effect of Amendments
D.C. Law 13-313 rewrote subsec. (a) which had read:
"(a) A person aggrieved by an act, determination, rule, regulation, order, or any other action of the Mayor, may appeal to the District of Columbia Court of Appeals in accordance with § 2-510."
D.C. Law 14-150 substituted "Commissioner" for "Mayor" throughout the section.
Legislative History of Laws
For Law 13-203, see notes following § 31-5601.01.
For D.C. Law 13-313, see notes following § 31-4434.
For Law 14-150, see notes following § 31-5601.01.
(a) Chapters 36 and 37 of Title 3 ("prior law"), are repealed, subject to the transition provisions of subsections (b) through (e) of this section.
(b) Prior law shall govern all suits, actions, prosecutions, or proceedings which are pending or may be initiated on the basis of facts or circumstances occurring before October 26, 2000.
(c) A civil suit or action shall not be maintained to enforce a liability under prior law unless brought within the period of limitation which applied when the cause of action accrued and, in any event, no later than 2 years after October 26, 2000.
(d) All effective registrations and notice filings under prior law, all administrative orders relating to such registrations and notice filings, and all conditions imposed upon such registrations shall apply to the extent they would have applied under prior law.
(e) All no-action and opinion letters, administrative orders, and waivers issued under prior law or regulation shall apply to the extent they would have applied under prior law.
(Oct. 26, 2000, D.C. Law 13-203, § 804, 47 DCR 7837.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-203, see notes following § 31-5601.01.
