59-1-1308 - Material advisor penalties. - Utah Statutes

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-01 > 59-1-1308

59-1-1308. Material advisor penalties.
(1) The penalty for failure of a material advisor to disclose a reportable transaction asrequired by Section 59-1-1306 is $20,000.
(2) If a material advisor that is required to disclose a reportable transaction in accordancewith Section 59-1-1306 provides false or incomplete information to the commission, the penaltyis $20,000.
(3) If a material advisor that is required to maintain a list under Section 59-1-1307 failsto make that list available to the commission within a 20-day period after the day on which thecommission mails a written request for that list, the material advisor is subject to a penalty of$10,000 for each day that the material advisor fails to make that list available to the commissionafter the expiration of the 20-day period.
(4) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-01 > 59-1-1308

59-1-1308. Material advisor penalties.
(1) The penalty for failure of a material advisor to disclose a reportable transaction asrequired by Section 59-1-1306 is $20,000.
(2) If a material advisor that is required to disclose a reportable transaction in accordancewith Section 59-1-1306 provides false or incomplete information to the commission, the penaltyis $20,000.
(3) If a material advisor that is required to maintain a list under Section 59-1-1307 failsto make that list available to the commission within a 20-day period after the day on which thecommission mails a written request for that list, the material advisor is subject to a penalty of$10,000 for each day that the material advisor fails to make that list available to the commissionafter the expiration of the 20-day period.
(4) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-01 > 59-1-1308

59-1-1308. Material advisor penalties.
(1) The penalty for failure of a material advisor to disclose a reportable transaction asrequired by Section 59-1-1306 is $20,000.
(2) If a material advisor that is required to disclose a reportable transaction in accordancewith Section 59-1-1306 provides false or incomplete information to the commission, the penaltyis $20,000.
(3) If a material advisor that is required to maintain a list under Section 59-1-1307 failsto make that list available to the commission within a 20-day period after the day on which thecommission mails a written request for that list, the material advisor is subject to a penalty of$10,000 for each day that the material advisor fails to make that list available to the commissionafter the expiration of the 20-day period.
(4) A penalty imposed by this section is in addition to any other penalty imposed by thistitle.

Enacted by Chapter 237, 2006 General Session