57-11-16 — Violations -- Criminal penalty -- Limitation -- Duties of attorney general, county attorney, or district attorney.
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57-11-16. Violations -- Criminal penalty -- Limitation -- Duties of attorney general,
county attorney, or district attorney.
(1) Any person who willfully violates any provision of this act or of a rule adopted under it or any person who willfully, in an application for registration under this act or under the federal act, makes any untrue statement of a material fact or omits to state a material fact may be fined not less than $1,000 or double the amount of gain from the transaction, whichever is the larger, but not more than $50,000; or he may be imprisoned for not more than two years; or both. No indictment or information may be returned or complaint filed under this act more than five years after the alleged violation.
(2) The attorney general shall advise the division and its staff in matters requiring legal counsel or services in the exercise of the division's power or performance of its duties. In the prosecution or defense of any action under this section, the attorney general, the county attorney, or the district attorney of the appropriate county shall perform all necessary legal services without compensation other than their regular salaries.
(1) Any person who willfully violates any provision of this act or of a rule adopted under it or any person who willfully, in an application for registration under this act or under the federal act, makes any untrue statement of a material fact or omits to state a material fact may be fined not less than $1,000 or double the amount of gain from the transaction, whichever is the larger, but not more than $50,000; or he may be imprisoned for not more than two years; or both. No indictment or information may be returned or complaint filed under this act more than five years after the alleged violation.
(2) The attorney general shall advise the division and its staff in matters requiring legal counsel or services in the exercise of the division's power or performance of its duties. In the prosecution or defense of any action under this section, the attorney general, the county attorney, or the district attorney of the appropriate county shall perform all necessary legal services without compensation other than their regular salaries.
Amended by Chapter 38, 1993 General Session