Securities Regulation

ORS 59.991
Criminal penalties for ORS 59.005 to 59.505 and 59.710 to 59.830

  • exceptions


(1)

Except as provided in subsection (3) of this section, violation of any provision of ORS 59.005 (Short title) to 59.505 (Provision of records to law enforcement and certain state agencies), 59.710 (Definitions for ORS 59.710 to 59.830) to 59.830 (Self-incrimination by witness), 59.991 (Criminal penalties for ORS 59.005 to 59.505 and 59.710 to 59.830) and 59.995 (Civil penalties for ORS 59.005 to 59.505 and 59.710 to 59.830) or any rule adopted by the Director of the Department of Consumer and Business Services under ORS 59.005 (Short title) to 59.505 (Provision of records to law enforcement and certain state agencies), 59.710 (Definitions for ORS 59.710 to 59.830) to 59.830 (Self-incrimination by witness), 59.991 (Criminal penalties for ORS 59.005 to 59.505 and 59.710 to 59.830) and 59.995 (Civil penalties for ORS 59.005 to 59.505 and 59.710 to 59.830), except ORS 59.315 (Oaths and subpoenas in proceedings before director) (2) or 59.810 (Delivery to customer of true statement of purchase or sale made by broker), is a Class B felony.

(2)

Violation of ORS 59.315 (Oaths and subpoenas in proceedings before director) (2) or 59.810 (Delivery to customer of true statement of purchase or sale made by broker) is a Class A misdemeanor.

(3)

This section does not apply to a failure to file a notice and pay a fee under ORS 59.049 (Federal covered securities exempt from registration) (1), (2) or (3), nor to a failure to file a notice and pay a fee pursuant to ORS 59.165 (Licensing of broker-dealers, investment advisers and salespersons required) (7), nor to a failure to pay a fee pursuant to ORS 59.175 (Procedures for notice filing and licensing) (9), nor to a violation of any rule adopted by the director under ORS 59.049 (Federal covered securities exempt from registration) (1), (2) or (3) or 59.165 (Licensing of broker-dealers, investment advisers and salespersons required) (7). [1967 c.537 §35; 1981 c.292 §5; 1987 c.603 §24; 1997 c.772 §28; 1999 c.53 §5; 2017 c.313 §5]

Notes of Decisions

Sentence of suspended 5-year prison term and fine of $5,000 for conviction under ORS 59.055 exceeded maximum permissible sentence, for conviction of defendant did not require proof of "culpable mental state" within meaning of ORS 161.105. State v. Pierre, 30 Or App 81, 566 P2d 534 (1977)

Law Review Citations

68 OLR 890 (1989)

Chapter 59

Notes of Decisions

Public policy does not prohibit nonculpable corporate directors held liable under this chapter from seeking indemnification from persons actually responsible for the wrongful issuance of unregistered securities. Collins v. Fitzwater, 277 Or 401, 560 P2d 1074 (1977)

Atty. Gen. Opinions

Additional real estate license not required where security sold is interest in limited partnership to invest in real estate, (1978) Vol 38, p 1971


Source

Last accessed
Jun. 26, 2021