The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
002
:
EXEMPTIONS FROM REGISTRATION OF SECURITIES
(Cite as: 9 V.S.A. § 5204)
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§ 5204. Denial, suspension, revocation, condition, or limitations of exemptions
(a) Except with respect to a federal covered security or a transaction involving a federal
covered security, an order under this chapter may deny, suspend application of, condition,
limit, or revoke an exemption created under subdivision 5201(3)(C), (7), or (8) or
section 5202 of this chapter or an exemption or waiver created under section 5203
of this chapter with respect to a specific security, transaction, or offer. An order
under this section may be issued only pursuant to the procedures in subsection 5306(d)
or section 5604 of this chapter and only prospectively.
(b) A person does not violate sections 5301, 5303 through 5306, 5504, or 5510 of this
chapter by an offer to sell, an offer to purchase, a sale, or a purchase effected
after the entry of an order issued under this section if the person did not know,
and in the exercise of reasonable care could not have known, of the order. (Added 2005, No. 11, § 1, eff. July 1, 2006.)