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Code · Kentucky · Chapter 292 — Securities (blue sky law)

292.460 Investigations and subpoenas.

410 words·~2 min read·/ky/chapter-292/292-460

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

(1)The commissioner in his or her discretion:
(a)May make such public or private investigations within or outside of this state
as he deems necessary to determine whether any registration should be
granted, denied, or revoked, or whether any person has violated or is about to
violate any provision of this chapter or any rule or order under this chapter, or
to aid in the enforcement of this chapter or in the prescribing of rules and
forms hereunder;
(b)May require or permit any person to file a statement in writing, under oath or
otherwise as the commissioner may determine, as to all the facts and
circumstances concerning the matter to be investigated; or
(c)May publish information concerning any violation of this chapter or any rule
or order hereunder.
(2)For the purpose of any investigation or proceeding under this chapter, the
commissioner or any officer designated by him may administer oaths and
affirmations, subpoena witnesses, compel their attendance, take evidence, and
require production of any books, papers, correspondence, memoranda, agreements,
or other documents or records which the commissioner deems relevant or material
to the inquiry.
(3)In case of contumacy by, or refusal to obey a subpoena issued to, any person, any
court of competent jurisdiction, upon application by the commissioner, may issue to
that person an order requiring him to appear before the commissioner, or the officer
designated by him, there to produce documentary evidence if so ordered or to give
evidence touching the matter under investigation or in question; and any failure to
obey the order of the court may be punished by the court as a contempt of court.
(4)No person is excused from attending and testifying or from producing any
document or record before the commissioner, or in obedience to the subpoena of the
commissioner or any officer designated by him, or in any proceeding instituted by
the commissioner, on the ground that the testimony or evidence (documentary or
otherwise) required of the person may tend to incriminate the person or subject the
person to a penalty or forfeiture; but no individual may be prosecuted or subjected
to any penalty or forfeiture for or on account of any transaction, matter, or thing
concerning which he is compelled, after claiming the privilege against self-
incrimination, to testify or produce evidence (documentary or otherwise), except
that the individual so testifying shall not be exempt from prosecution and
punishment for perjury committed in so testifying.
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