17-12a610. Jurisdiction. (a) Sales and offers to sell. K.S.A. 17-12a301, 17-12a302, 17-12a401(a), 17-12a402(a), 17-12a403(a), 17-12a404(a), 17-12a501, 17-12a506, 17-12a509, and 17-12a510, and amendments thereto, do not apply to a person that sells or offers to sell a security unless the offer to sell or the sale is made in this state or the offer to purchase or the purchase is made and accepted in this state.
(b) Purchases and offers to purchase. K.S.A. 17-12a401(a), 17-12a402(a), 17-12a403(a), 17-12a404(a), 17-12a501, 17-12a506, 17-12a509, and 17-12a510, and amendments thereto, do not apply to a person that purchases or offers to purchase a security unless the offer to purchase or the purchase is made in this state or the offer to sell or the sale is made and accepted in this state.
(c) Offers in this state. For the purpose of this section, an offer to sell or to purchase a security is made in this state, whether or not either party is then present in this state, if the offer:
(1) Originates from within this state; or
(2) is directed by the offeror to a place in this state and received at the place to which it is directed.
(d) Acceptances in this state. For the purpose of this section, an offer to purchase or to sell is accepted in this state, whether or not either party is then present in this state, if the acceptance:
(1) Is communicated to the offeror in this state and the offeree reasonably believes the offeror to be present in this state and the acceptance is received at the place in this state to which it is directed; and
(2) has not previously been communicated to the offeror, orally or in a record, outside this state.
(e) Publications, radio, television or electronic communications. An offer to sell or to purchase is not made in this state when a publisher circulates or there is circulated on the publisher's behalf in this state a bona fide newspaper or other publication of general, regular and paid circulation that is not published in this state, or that is published in this state but has had more than two-thirds of its circulation outside this state during the previous 12 months or when a radio or television program or other electronic communication originating outside this state is received in this state. A radio or television program, or other electronic communication is considered as having originated in this state if either the broadcast studio or the originating source of transmission is located in this state, unless:
(1) The program or communication is syndicated and distributed from outside this state for redistribution to the general public in this state;
(2) the program or communication is supplied by a radio, television or other electronic network with the electronic signal originating from outside this state for redistribution to the general public in this state;
(3) the program or communication is an electronic communication that originates outside this state and is captured for redistribution to the general public in this state by a community antenna or cable, radio, cable television or other electronic system; or
(4) the program or communication consists of an electronic communication that originates in this state, but which is not intended for distribution to the general public in this state.
(f) Investment advice and misrepresentations. K.S.A. 17-12a403(a), 17-12a404(a), 17-12a405(a), 17-12a502, 17-12a505, and 17-12a506, and amendments thereto, apply to a person if the person engages in an act, practice, or course of business instrumental in effecting prohibited or actionable conduct in this state, whether or not either party is then present in this state.
History: L. 2004, ch. 154, ยง 49; July 1, 2005.
Structure Kansas Statutes
Article 12a - Uniform Securities Act
17-12a,103 References to federal statutes.
17-12a,104 References to federal agencies.
17-12a,105 Electronic records and signatures.
17-12a,202 Exempt transactions.
17-12a,203 Additional exemptions and waivers.
17-12a,204 Denial, suspension, revocation, condition or limitation of exemptions.
17-12a,205 Exemption filing fees.
17-12a,301 Securities registration requirement.
17-12a,303 Securities registration by coordination.
17-12a,304 Securities registration by qualification.
17-12a,305 Securities registration filings.
17-12a,306 Denial, suspension and revocation of securities registration.
17-12a,307 Waiver and modification.
17-12a,401 Broker-dealer registration requirement and exemptions.
17-12a,402 Agent registration requirement and exemptions.
17-12a,403 Investment adviser registration requirement and exemptions.
17-12a,404 Investment adviser representative registration requirement and exemptions.
17-12a,405 Federal covered investment adviser notice filing requirement.
17-12a,407 Succession and change in registration of broker-dealer or investment adviser.
17-12a,411 Postregistration requirements.
17-12a,502 Prohibited conduct in providing investment advice.
17-12a,503 Evidentiary burden.
17-12a,504 Filing of sales and advertising literature.
17-12a,505 Misleading filings; coercion; obstruction.
17-12a,506 Misrepresentations concerning registration or exemption.
17-12a,507 Qualified immunity.
17-12a,508 Criminal penalties; statute of limitations.
17-12a,601 Administration; investor education and protection fund.
17-12a,602 Investigations and subpoenas.
17-12a,604 Administrative enforcement.
17-12a,605 Rules, forms, orders, interpretive opinions and hearings.
17-12a,606 Administrative files and opinions.
17-12a,607 Public records; confidentiality.
17-12a,608 Uniformity and cooperation with other agencies.
17-12a,611 Service of process.
17-12a,612 Severability clause.
17-12a,703 Repeals; application of act to existing proceeding and existing rights and duties.