South Carolina Code of Laws
Chapter 73 - State Commodity Code
Section 39-73-70. Agency, vicarious, and joint and several liability.

(A) The act, omission or failure of an official, an agent, or another person acting for an individual, an association, a partnership, a corporation, or a trust within the scope of his employment or office is deemed the act, omission or failure of the individual, association, partnership, corporation, or trust as well as of the official, agent, or other person.
(B) Every person who directly or indirectly controls another person liable under this chapter, every partner, officer, or director of the other person, every person occupying a similar status or performing similar functions, every employee of the other person who materially aids in the violation also is liable jointly and severally with and to the same extent as the other person, unless the person who also is liable by virtue of this section sustains the burden of proof that he did not know and in exercise or reasonable care could not have known of the existence of the facts by reason of which the liability is alleged to exist.
HISTORY: 1993 Act No. 68, Section 1, eff 200 days after approval (approved May 14, 1993).

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 39 - Trade and Commerce

Chapter 73 - State Commodity Code

Section 39-73-10. Definitions.

Section 39-73-20. Commodity transactions under commodity contract or option restricted.

Section 39-73-30. Purchasers or sellers as to whom prohibition not applicable.

Section 39-73-40. Transactions as to which prohibition not applicable.

Section 39-73-50. Commodity merchant required to be registered, temporarily licensed, or exempt; board of trade must be designated.

Section 39-73-60. Prohibited acts.

Section 39-73-70. Agency, vicarious, and joint and several liability.

Section 39-73-80. Chapter not to impair other state securities laws.

Section 39-73-90. Construction and implementation of chapter; no private right of action created.

Section 39-73-310. Authority of administrator to investigate; publication of information; powers and procedures; court order to compel compliance.

Section 39-73-315. Action by administrator to prevent violation or imminent violation.

Section 39-73-320. Legal, equitable, and special remedies available to court for enforcement.

Section 39-73-325. Penalties for willful violation; for unknowing violation; reference to Attorney General for criminal proceedings.

Section 39-73-330. Secretary of State to administer chapter; confidential or public nature of information; use of information for personal gain.

Section 39-73-335. Cooperation with other jurisdictions; joint action.

Section 39-73-340. Authority to promulgate regulations, forms, and orders; insulation from liability for acts or omissions done in good faith.

Section 39-73-345. Engaging in prohibited conduct constitutes appointment of administrator to accept service of process.

Section 39-73-350. Applicability of sections 39-73-20, 39-73-50, and 39-73-60 to persons who sell, buy, or offer to sell or buy commodities in state.

Section 39-73-355. Administrative proceedings; notice; hearing; order.

Section 39-73-360. Judicial review.

Section 39-73-365. Burden of proof as to exemptions.

Section 39-73-370. Defense, in case based on failure to make physical delivery, factors beyond seller's control, where delivery completed within reasonable time.