Sec. 47-99. Advertisement of securities; prior filing; hearings; media responsibility.
Sec. 47-99. Advertisement of securities; prior filing; hearings; media responsibility. (a) No person shall publish any advertisement in this state concerning any real
estate syndicate security sold or offered for sale in this state unless a true copy of the
advertisement has first been filed in the office of the commission at least three business
days prior to the publication or such shorter period as the commission may by regulation
or order allow.
(b) No person shall publish any advertisement concerning any real estate syndicate
security in this state after the commission finds that the advertisement contains any
statement that is false or misleading or omits to make any statement necessary in order
to make the statements made in the light of the circumstances under which they were
made not misleading and so notifies the person in writing. After such notification is
issued, the person or persons named therein may, within twenty days after receipt of
the notification, file a written request for a hearing. Said hearing shall be held within
the time period and in accordance with the procedures set forth for hearings contained
in section 20-321.
(c) The owner, publisher, licensee or operator of any newspaper, magazine, visual
or sound radio broadcasting station or network of stations or the agents or employees
of any such owner, publisher, licensee or operator of such newspaper, magazine, station
or network of stations shall not be liable under this chapter for any advertising regarding
any real estate syndicate security sold or offered for sale in this state carried in any such
newspaper or magazine or by any such visual or sound radio broadcasting station or
network of stations nor shall any of them be liable under said chapter for the contents
of any such advertisement.
(P.A. 73-593, S. 23, 24, 34, 35.)
See Sec. 47-103(b) re conduct of hearings.