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17-1255.

History: L. 1957, ch. 145, § 4; L. 1994, ch. 291, § 16; L. 1995, ch. 251, § 6; L. 1997, ch. 62, § 5; L. 2003, ch. 117, § 3; Repealed, L. 2004, ch. 154, § 65; July 1, 2005.

CASE ANNOTATIONS

1. Company organized as express trust under Oklahoma law operating as foreign corporation; application of securities act and corporation code. State, ex rel., v. United Royalty Co., 188 Kan. 443, 363 P.2d 397.

2. Cause of action under Blue Sky Law cannot be first raised on appeal. Crist v. United Underwriters, Ltd., 343 F.2d 902, 904.

3. Registration of stock not required in case of "isolated transaction." Allen v. Schauf, 202 Kan. 348, 353, 355, 356, 449 P.2d 1010.

4. Certain promissory notes sold to general public held to be securities and required to be registered hereunder. State v. Hodge, 204 Kan. 98, 99, 104, 105, 460 P.2d 596.

5. New trial ordered on fraud convictions; trial court erred in instructing jury and in restricting cross-examination. State v. Puckett, 6 Kan. App. 2d 688, 689, 705, 634 P.2d 144 (1981); aff'd, 230 Kan. 596, 640 P.2d 1198 (1981).

6. Under facts of case alleged investment contract not subject to act. State ex rel. Owens v. Colby, 231 Kan. 498, 499, 646 P.2d 1071 (1982).

7. Sale of unregistered limited partnership interests considered; no jurisdiction over nonresident directors of corporation found. Schlatter v. Mo-Comm Futures, Ltd., 233 Kan. 324, 327, 662 P.2d 553 (1983).

8. Burden on state to prove all elements of crime charged; burden of showing transaction as exempt on defendant. State v. Kershner, 15 Kan. App. 2d 17, 19, 20, 801 P.2d 68 (1990).

9. Statute prohibiting sale of unregistered securities held not unconstitutionally vague. State ex rel. Mays v. Ridenhour, 248 Kan. 919, 945, 811 P.2d 1220 (1991).

10. Exemptions in K.S.A. 17-1262 as affirmative defenses under K.S.A. 17-1272, instructions on violations of act examined. State v. Ribadeneira, 15 Kan. App. 2d 734, 737, 760, 817 P.2d 1105 (1991).

11. Disbarment recommendation based upon conviction hereunder; conviction reflected adversely on fitness as a lawyer resulting in public censure. In re Kershner, 250 Kan. 383, 384, 388, 827 P.2d 1189 (1992).

12. Cited; whether K.S.A. 17-1254(g) creates a private civil remedy actionable under K.S.A. 17-1268(a) examined. Kelly v. Primeline Advisory, Inc., 256 Kan. 978, 982, 992, 889 P.2d 130 (1995).

13. Conviction for selling unregistered securities upheld; sufficient evidence to find remuneration paid for soliciting investors. State v. Stuber, 25 Kan. App. 2d 254, 263, 962 P.2d 1104 (1998).

14. Discovery rule in fraud claim did not apply to investors' action alleging sale of unregistered securities. Perry H. Bacon Trust v. Transition Partners, Ltd., 298 F. Supp. 2d 1182, 1186 (2004).


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