Sec. 45.56.660. Applicability of the chapter.

445 words·~2 min read·/ak/title-45/chapter-56/45-56-660

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Unless the persons are exempt elsewhere in this chapter, this chapter applies to persons who buy or offer to buy when an offer to

(1)buy is made in this state; or

(2)sell is made and accepted in this state.

(b)Unless the person is exempt elsewhere in this chapter, this chapter applies to a person who sells or offers to sell when an offer to

(1)sell is made in this state; or

(2)buy is made and accepted in this state.

(c)For the purpose of this section, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer

(1)originates from this state;

(2)is directed by the offeror to this state and received at the place to which it is directed or at a post office in this state in the case of a mailed offer;

(3)is for an interest or participation in an oil, gas, or mining right, title, or lease on land in this state, including submerged land, regardless of where the offer is made;

(4)is for an interest or participation in payments out of production under an oil, gas, or mining right, title, or lease on land in this state, including submerged land, regardless of where the offer is made;

(5)is for an interest or participation in real property located in this state, or in a corporation, a partnership, a limited liability company, a limited partnership, a limited liability partnership, an association, or a joint-stock company; jurisdiction under this paragraph may be exercised only when the exercise is consistent with the constitution of this state or of the United States.

(d)For the purpose of this section, an offer to buy or to sell is accepted in this state when acceptance is communicated to the offeror in this state and has not previously been communicated to the offeror, orally or in writing, outside this state. Acceptance is communicated to the offeror in this state, whether or not either party is then present in this state, when the offeree directs the acceptance to the offeror in this state reasonably believing the offeror to be in this state and the acceptance is received at the place to which it is directed or, in the case of a mailed acceptance, at a post office in this state.

(e)This chapter applies to investment advisers, federal covered advisers, and investment adviser representatives when any act instrumental in effecting prohibited conduct is done in this state, regardless of whether either party is then present in this state.