Effective: March 31, 2021
Latest Legislation: House Bill 312 - 133rd General Assembly
Any securities required by sections 1707.01 to 1707.50, inclusive, of the Revised Code, to be registered by qualification before being sold in this state may be offered for sale and sold preliminary to and pending their full qualification, where the division of securities is satisfied that the issuer is solvent and of good business repute and that such preliminary offering will not deceive or tend to deceive the public; but no such preliminary offering shall be made until the division consents thereto in writing, and such consent shall be on condition that within thirty days from the date thereof, or within such further time as the division allows, there is filed in the office of the division application under such sections for the full qualification of said securities, or for a registration of such securities by description if, within such time, such securities become entitled to registration by description; and the entire proceeds of the sale of such securities, without deduction for commissions or other charges, shall be segregated or deposited in escrow in such manner and for such time as the division directs.
No applicant which is an issuer not a resident of this state shall be entitled to the benefit of this section unless there shall also be on file with the division a consent to service as provided in section 1707.11 of the Revised Code.
At the time of filing the statement prescribed in this section, the applicant shall pay to the division the filing fee prescribed by section 1707.09 of the Revised Code; and upon receipt of notice of the division's favorable action on the application, the applicant shall pay to the division the registration fee prescribed by such section for the qualification of securities.
If the dealer is unable to complete such qualification or such registration by description, or if the division, acting upon more complete information furnished or obtained from its examination, does not finally register such security by description or qualification, the issuer or dealer who has sold it or offered it for sale shall withdraw the security from the market and return or tender to purchasers of the security, within such time as the division specifies, the amounts paid for it by them.
Structure Ohio Revised Code
Title 17 | Corporations-Partnerships
Section 1707.01 | Securities Definitions.
Section 1707.02 | Exempt Securities.
Section 1707.03 | Exempt Transactions.
Section 1707.04 | Issuance of Securities in Reorganizations.
Section 1707.041 | Control Bids Made Pursuant to Tender Offer or Request or Invitation for Tenders.
Section 1707.042 | Prohibited Acts Relating to Control Bids.
Section 1707.043 | Preventing Manipulative Practices.
Section 1707.05 | Definitions.
Section 1707.051 | Offerings-Securities Registration Exemption.
Section 1707.052 | Offerings-Disclosure to Purchasers.
Section 1707.053 | Offerings-Certification From Purchasers.
Section 1707.054 | Portal Operators-License.
Section 1707.055 | Portal Operators-Prohibited Conduct for Non-Dealer Operators.
Section 1707.056 | Portal Operators-Oversight, Purchase Limits, and Purchaser Privacy.
Section 1707.057 | Portal Operators-Record Keeping Requirements.
Section 1707.058 | Issuers-Disqualification From Registration Exemption.
Section 1707.06 | Transactions Requiring Registration.
Section 1707.08 | Registration by Description.
Section 1707.09 | Registration by Qualification.
Section 1707.091 | Registration by Coordination.
Section 1707.092 | Notice Filings.
Section 1707.093 | Electronic Filings.
Section 1707.10 | Provisional Registration by Qualification.
Section 1707.11 | Consent to Service.
Section 1707.12 | Documents Open to Inspection.
Section 1707.13 | Suspension and Revocation of Registration.
Section 1707.131 | Refusing Registration.
Section 1707.14 | Dealer's License.
Section 1707.141 | Investment Adviser's License Required - Exceptions - Notice Filing Requirement.
Section 1707.142 | Compliance With Federal Laws - Federal Documents to Be Filed With Division.
Section 1707.15 | Applying for Dealer's License.
Section 1707.151 | Application for and Issuance of Investment Adviser's License.
Section 1707.16 | Application for and Issuance of Salesperson's License.
Section 1707.162 | State Retirement System Investment Adviser License Required.
Section 1707.164 | Bureau Chief Investment Officer - Securities License Required.
Section 1707.165 | Application for Bureau Chief Investment Officer - Investigation - Examination.
Section 1707.17 | Renewal - License Fees.
Section 1707.18 | Application for Transfer of License.
Section 1707.19 | Refusal, Suspension, and Revocation of License.
Section 1707.20 | Adopting, Amending, and Rescinding Rules, Forms, and Orders.
Section 1707.201 | Federal Provisions.
Section 1707.21 | Registration Statement May Be Filed With Securities and Exchange Commission.
Section 1707.22 | Appeals - Effect of Order.
Section 1707.23 | Division of Securities - Enforcement Powers.
Section 1707.24 | Contempt Proceedings.
Section 1707.26 | Injunction Against Violations.
Section 1707.261 | Director's Request for Restitution or Rescission.
Section 1707.27 | Appointment of Receiver.
Section 1707.28 | Statute of Limitations.
Section 1707.29 | Presumption of Knowledge.
Section 1707.30 | Certificate of Division as Evidence.
Section 1707.31 | Certified Copies as Evidence.
Section 1707.32 | Insurance Securities.
Section 1707.34 | Warehouse Receipts for Intoxicating Liquor.
Section 1707.35 | Securities Authorized Before July 22, 1929.
Section 1707.36 | Attorney-Inspector - Control-Bid Attorneys.
Section 1707.37 | Division of Securities Fund.
Section 1707.38 | Effect of Violation on Validity of Security.
Section 1707.39 | Qualification of Securities Sold Without Compliance.
Section 1707.391 | Late Applications.
Section 1707.40 | Civil Liabilities.
Section 1707.41 | Civil Liability of Seller for Fraud.
Section 1707.42 | Civil Liability of Adviser.
Section 1707.43 | Remedies of Purchaser in Unlawful Sale.
Section 1707.431 | Claiming Exemption for Publicly Advertised Meeting.
Section 1707.44 | Prohibited Acts.
Section 1707.45 | Burden of Proof.
Section 1707.46 | Duties of Commissioner of Securities.
Section 1707.47 | Ohio Investor Recovery Fund.
Section 1707.471 | Restitution Assistance Awards From Ohio Investor Recovery Fund.
Section 1707.48 | Division of Securities to Retain Documents and Records or Copies.
Section 1707.49 | Reporting Elder Financial Exploitation.
Section 1707.50 | Violations, Penalties, and Private Rights of Action.