North Carolina General Statutes Chapter 78D Commodities Act

Article 1 - Scope.

• N.C. Gen. Stat. § 78D-1.   Definitions
  (1) "Administrator" means the Secretary of State. (2) "Board of Trade" means any person or group of persons engaged in buying or selling any...
• N.C. Gen. Stat. § 78D-2.   Unlawful commodity transactions
  Except as otherwise provided in G.S. 78D-3 or G.S. 78D-4, no person shall sell or purchase or offer to sell or purchase any commodity...
• N.C. Gen. Stat. § 78D-3.   Exempt person transactions
  The prohibitions in G.S. 78D-2 shall not apply to any transaction offered by and in which any of the following persons (or any employee,...
• N.C. Gen. Stat. § 78D-4.   Exempt transactions
  (a) The prohibitions in G.S. 78D-2 shall not apply to the following: (1) An account, agreement or transaction within the exclusive jurisdiction of the...
• N.C. Gen. Stat. § 78D-5.   Unlawful commodity activities
  (a) No person shall engage in a trade or business or otherwise act as a commodity merchant unless such person (i) is registered or...
• N.C. Gen. Stat. § 78D-6.   Fraudulent conduct
  No person, shall directly or indirectly: (1) Cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme...
• N.C. Gen. Stat. § 78D-7.   Liability of principals, controlling persons and others
  (a) The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, corporation, or trust within the...
• N.C. Gen. Stat. § 78D-8.   Securities and laws unaffected
  Nothing in this Chapter shall impair, derogate or otherwise affect the authority or powers of the Administrator under Chapters 78A or 78C of the...
• N.C. Gen. Stat. § 78D-9.   Purpose
  This Chapter may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving...
• N.C. Gen. Stat. § 78D-10 through 78D-20.   Reserved for future codification purposes

Article 2 - Administration and Enforcement.

• N.C. Gen. Stat. § 78D-21.   Investigations
  (a) The Administrator may make investigations, within or without this State, as it finds necessary or appropriate to: (1) Determine whether any person has...
• N.C. Gen. Stat. § 78D-22.   Enforcement of Chapter
  (a) If the Administrator believes, whether or not based upon an investigation conducted under G.S. 78D-21 that any person has engaged or is about...
• N.C. Gen. Stat. § 78D-23.   Power of court to grant relief
  (a) (1) Upon a proper showing by the Administrator that a person has violated, or is about to violate, any provision of this Chapter...
• N.C. Gen. Stat. § 78D-24.   Criminal penalties
  (a) Any person who willfully violates any provision of this Chapter is guilty of a felony. If the losses caused by the violation or...
• N.C. Gen. Stat. § 78D-25.   Administration of Chapter
  (a) This Chapter shall be administered by the Secretary of State. The Secretary of State as Administrator may delegate all or part of the...
• N.C. Gen. Stat. § 78D-26.   Cooperation with other agencies
  (a) To encourage uniform application and interpretation of this Chapter and securities regulation and enforcement in general, the Administrator and the employees of the...
• N.C. Gen. Stat. § 78D-27.   General authority to adopt rules, forms, and orders
  (a) In addition to specific authority granted elsewhere in this Chapter, the Administrator may make, amend, and rescind rules, forms, and orders as are...
• N.C. Gen. Stat. § 78D-28.   Consent to service of process
  When a person, including a nonresident of this State, engages in conduct prohibited or made actionable by the Chapter or any rule or order...
• N.C. Gen. Stat. § 78D-29.   Scope of the Chapter
  (a) G.S. 78D-2, 78D-5 and 78D-6 apply to persons who sell or offer to sell when: (1) An offer to sell is made in...
• N.C. Gen. Stat. § 78D-30.   Procedure for entry of an order
  (a) The Administrator shall commence an administrative proceeding under this Chapter, by entering either a notice of intent to do a contemplated act or...
• N.C. Gen. Stat. § 78D-31.   Judicial review of orders
  (a) Any person aggrieved by a final order of the Administrator may obtain a review of the order in the Superior Court of Wake...
• N.C. Gen. Stat. § 78D-32.   Pleading exemptions
  It shall not be necessary to negative any of the exemptions of this Chapter in any complaint, information or indictment, or any writ or...
• N.C. Gen. Stat. § 78D-33.   Affirmative Defense
  It shall be a defense in any complaint, information, indictment, any writ or proceeding brought under this Chapter alleging a violation of G.S. 78D-2...

Last modified: March 23, 2014