The Director of the Department of Consumer and Business Services may, by rule or order, impose on a registration such conditions, limitations and restrictions as the director deems appropriate to make the issue fair, just and equitable, including the following:
(1) That a prospectus containing any designated part of the information submitted in connection with registration be sent or given to each person to whom a security is offered or sold.
(2) That the security be sold only on a specified form of subscription or sale contract and that a signed or conformed copy of each contract be filed with the director or preserved for a period up to three years specified in the rule or order.
(3) That any of the following be deposited in escrow on terms approved by the director:
(a) Any security issued or to be issued for a consideration substantially different from the public offering price or for a consideration other than cash.
(b) The proceeds from the sale of the security until the issuer receives an amount specified by the director. [1967 c.537 §10]
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