Any person who violates section 47-98 or 47-106 shall be liable to any person acquiring from him the real estate syndicate security sold in violation of such section, who may sue to recover the consideration paid for such real estate syndicate security with interest thereon at the legal rate, less the amount of any income received therefrom, upon the tender of such real estate syndicate security, or for damages, if he no longer owns the real estate syndicate security, equal to the difference between (a) his purchase price plus interest at the legal rate from the date of purchase and (b) the value of the real estate syndicate security at the time it was disposed of by the plaintiff plus the amount of any income received therefrom by the plaintiff, together with such other relief as the court may deem proper.
(P.A. 73-593, S. 31, 35.)
Structure Connecticut General Statutes
Title 47 - Land and Land Titles
Chapter 826 - Real Estate Syndicates
Section 47-92. - Qualification of real estate syndicate securities; issuance of permit.
Section 47-93. - Expert opinion.
Section 47-94. - Grounds for refusal of permit. Appeal, hearing.
Section 47-95. - Amendment to offering; commission approval; effective date.
Section 47-96. - Permit fees. Determination of value of securities.
Section 47-98. - Sale of unqualified real estate syndicate securities prohibited.
Section 47-99. - Advertisement of securities; prior filing; hearings; media responsibility.
Section 47-100. - Sale does not require licensure as real estate salesperson or broker.
Section 47-102. - Waiver of chapter void. Exception.
Section 47-103. - Real Estate Commission to establish regulations. Hearings.
Section 47-104. - Required form of sales contracts.
Section 47-105. - Required records and reports. Examination of records; examination costs.
Section 47-106. - Penalty for false statement.
Section 47-107. - Investigations by commission; powers.
Section 47-108. - Appointment of attorney for service.
Section 47-109. - Actions, limitation of time, prerequisite.
Section 47-110. - Remedy of buyers.
Section 47-111. - Order to cease and desist. Hearing.
Section 47-112. - Injunctive and other relief.
Section 47-113. - Violations punished by fine or imprisonment.
Section 47-114. - Reservation of other punishments.
Section 47-115. - Burden of proof of exemptions or exceptions.