2014 New Hampshire Revised Statutes
Title XXXVIII - SECURITIES
Chapter 421-B - SECURITIES
Section 421-B:21 - Administration.

    421-B:21 Administration. –
    I. This chapter shall be administered by the secretary of state who may appoint deputy secretaries of state or designees who shall serve as director and who may be classified or unclassified employees whose salary shall be that of or comparable to that of a deputy secretary of state, to administer the provisions of this chapter. The secretary of state may also appoint deputy directors who shall perform such duties as may be assigned by the secretary of state, deputy secretary of state, or designee, or director, to administer the provisions of this chapter. The secretary of state shall, to the greatest extent practical, physically and substantively consolidate the activities and functions related to corporations, limited partnerships, and other business organizations and entities administered by the department of state with the activities and functions related to the registration of securities.
    I-a. Notwithstanding any other provision of law, the secretary of state shall have exclusive authority and jurisdiction:
       (a) To register securities.
       (b) (1) To license the following:
             (A) Broker-dealers.
             (B) Investment advisers.
             (C) Issuer-dealers.
             (D) Agents.
             (E) Investment adviser representatives.
          (2) The exclusive authority and jurisdiction to issue licenses pursuant to RSA 421-B:21, I-a(b) shall not be read to limit the authority of the department of insurance to license sellers of products where licensure is required both by RSA 421-B and Title XXXVII.
       (c) Pursuant to RSA 421-B:28, III, together with the attorney general, to issue, amend, or rescind such orders as are reasonably necessary to carry out the provisions of this chapter.
       (d) To bring administrative actions to enforce the securities law.
       (e) To investigate and impose penalties for violations of the securities laws, including but not limited to:
          (1) Revoking, suspending, or denying licenses and registrations.
          (2) Fines.
          (3) Rescission, restitution, or disgorgement.
       (f) Together with the attorney general, to bring actions pursuant to RSA 421-B:23, I(b) and (c).
       (g) To investigate conduct that would be an unfair or deceptive act or practice under RSA 358-A and that is subject to the jurisdiction of the director of securities regulation pursuant to RSA 358-A:3, I.
       (h) To issue letters of censure, caution, warning, or admonition pursuant to audits or inspections under RSA 421-B:9, investigations under RSA 421-B:22, or hearings under RSA 421-B:26-a.
    II. The secretary of state shall have all powers specifically granted or reasonably implied in order to perform the substantive responsibilities imposed by this title.
    II-a. The secretary of state shall collect all fees and charges required under this chapter and shall pay them to the state treasurer to be deposited in the general fund as unrestricted revenue, except as provided in paragraphs II-b and II-c.
    II-b. [Repealed.]
    II-c. The state treasurer shall pay the expenses of investor education conducted pursuant to RSA 421-B:26, IV out of the investor education fund consisting of the funds collected pursuant to RSA 421-B:26, I, II, and III. The investor education fund shall be nonlapsing and continually appropriated for the purpose of paying the expenses of investor education, except that, as provided in RSA 421-B:26, IV, the fund shall at no time exceed $725,000.
    III. It is unlawful for the secretary of state or any officers or employees of the secretary of state to use for personal benefit any information which is filed with or obtained by the secretary of state and which is not made public. No provision of this chapter authorizes the secretary of state or any officers or employees of the secretary of state to disclose any such information except among themselves or when necessary or appropriate in a proceeding or investigation under this chapter. No provision of this chapter either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the secretary of state or any officers or employees of the secretary of state.

Source. 1981, 214:1. 1987, 411:2. 1991, 355:84. 1992, 288:48. 1994, 388:19. 2001, 158:69, eff. July 1, 2001; 260:17, 21, III, eff. July 13, 2001. 2006, 245:19, 20, eff. July 1, 2006. 2007, 104:5, eff. July 1, 2007. 2008, 332:3, eff. Jan. 1, 2009.