49:3-51 Applicability of act.

368 words·~2 min read·/nj/title-49/chapter-3/49-3-51

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

(a)Sections 5, 8, subsection

(a)of section 9, and sections 13 and 24 of P.L.1967, c.93 (C.49:3-52, 49:3-55, 49:3-56, 49:3-60 and 49:3-71) apply to persons who sell or offer to sell when

(1)an offer to sell is made in this State, or

(2)an offer to buy is made or accepted in this State;

(b)Sections 5, 8 and subsection

(a)of section 9 of P.L.1967, c.93 (C.49:3-52, 49:3-55 and 49:3-56) apply to persons who buy or offer to buy when

(1)an offer to buy is made in this State, or

(2)an offer to sell is made or accepted in this State;

(c)For the purpose of this section, except to the extent the bureau chief may by rule or order determine, 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 or

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

(d)For the purpose of this section, an offer to buy or to sell is accepted in this State when acceptance

(1)is communicated to the offeror in this State and

(2)has not previously been communicated to the offeror, orally or in writing, outside this State; and acceptance is communicated to the offeror in this State, whether or not either party is then present in this State, when the offeree directs it to the offeror in this State reasonably believing the offeror to be in this State and it is received at the place to which it is directed (or at any post office in this State in the case of a mailed acceptance);

(e)(Deleted by amendment, P.L.1997, c.276.)

(f)Sections 6, 8 and subsection

(c)of section 9 of P.L.1967, c.93 (C.49:3-53, 49:3-55 and 49:3-56), so far as investment advisers are concerned, apply when any act instrumental in effecting prohibited conduct is done in this State, whether or not either party is then present in this State.

L.1967,c.93,s.4; amended 1997, c.276, s.4.