17-12a703.Repeals; application of act to existing
proceeding and existing rights and duties.
The Kansas securities act, K.S.A. 17-1252 through
17-1275, is hereby repealed subject to the following limitations:
(a) Applicability of predecessor act to pending proceedings and
existing rights. The predecessor act exclusively governs all actions
or proceedings that are pending on the effective date of this act
or may be instituted on the basis of conduct occurring before the
effective date of this act, but a civil action may not be maintained
to enforce any liability under the predecessor act unless instituted
within any period of limitation that applied when the cause of
action accrued or within five years after the effective date of this
act, whichever is earlier.
(b) Continued effectiveness under predecessor act. All
effective registrations under the predecessor act, all
administrative orders relating to the registrations, rules, statements of
policy, interpretative opinions, declaratory rulings,
no action determinations, and conditions imposed on the
registrations under the predecessor act remain in effect while they
would have remained in effect if this act had not been enacted.
They are considered to have been filed, issued, or imposed under
this act, but are exclusively governed by the predecessor act.
(c) Applicability of predecessor act to offers or sales. The
predecessor act exclusively applies to an offer or sale made within
one year after the effective date of this act pursuant to an
offering made in good faith before the effective date of this act
on the basis of an exemption available under the predecessor act.
17-12a703.Repeals; application of act to existing
proceeding and existing rights and duties.
The Kansas securities act, K.S.A. 17-1252 through
17-1275, is hereby repealed subject to the following limitations:
(a) Applicability of predecessor act to pending proceedings and
existing rights. The predecessor act exclusively governs all actions
or proceedings that are pending on the effective date of this act
or may be instituted on the basis of conduct occurring before the
effective date of this act, but a civil action may not be maintained
to enforce any liability under the predecessor act unless instituted
within any period of limitation that applied when the cause of
action accrued or within five years after the effective date of this
act, whichever is earlier.
(b) Continued effectiveness under predecessor act. All
effective registrations under the predecessor act, all
administrative orders relating to the registrations, rules, statements of
policy, interpretative opinions, declaratory rulings,
no action determinations, and conditions imposed on the
registrations under the predecessor act remain in effect while they
would have remained in effect if this act had not been enacted.
They are considered to have been filed, issued, or imposed under
this act, but are exclusively governed by the predecessor act.
(c) Applicability of predecessor act to offers or sales. The
predecessor act exclusively applies to an offer or sale made within
one year after the effective date of this act pursuant to an
offering made in good faith before the effective date of this act
on the basis of an exemption available under the predecessor act.
17-12a703.Repeals; application of act to existing
proceeding and existing rights and duties.
The Kansas securities act, K.S.A. 17-1252 through
17-1275, is hereby repealed subject to the following limitations:
(a) Applicability of predecessor act to pending proceedings and
existing rights. The predecessor act exclusively governs all actions
or proceedings that are pending on the effective date of this act
or may be instituted on the basis of conduct occurring before the
effective date of this act, but a civil action may not be maintained
to enforce any liability under the predecessor act unless instituted
within any period of limitation that applied when the cause of
action accrued or within five years after the effective date of this
act, whichever is earlier.
(b) Continued effectiveness under predecessor act. All
effective registrations under the predecessor act, all
administrative orders relating to the registrations, rules, statements of
policy, interpretative opinions, declaratory rulings,
no action determinations, and conditions imposed on the
registrations under the predecessor act remain in effect while they
would have remained in effect if this act had not been enacted.
They are considered to have been filed, issued, or imposed under
this act, but are exclusively governed by the predecessor act.
(c) Applicability of predecessor act to offers or sales. The
predecessor act exclusively applies to an offer or sale made within
one year after the effective date of this act pursuant to an
offering made in good faith before the effective date of this act
on the basis of an exemption available under the predecessor act.