§ 5610. Jurisdiction
(a) Sections 5301 and 5302, subsections 5401(a), 5402(a), 5403(a), and 5404(a) and sections
5501, 5506, 5509, and 5510 of this chapter do not apply to a person that sells or
offers to sell a security unless the offer to sell or the sale is made in this State
or the offer to purchases or the purchase is made and accepted in this State.
(b) Subsections 5401(a), 5402(a), 5403(a), 5404(a), and sections 5501, 5506, 5509, and
5510 of this chapter do not apply to a person that purchases or offers to purchase
a security unless the offer to purchase or the purchase is made in this State or the
offer to sell or the sale is made and accepted in this State.
(c) For the purpose of this section, an offer to sell or to purchase a security is made
in this State, whether or not either party is then present in this State, if the offer:
(1) originates from within this State; or
(2) is directed by the offeror to a place in this State and received at the place to which
it is directed.
(d) For the purpose of this section, an offer to purchase or to sell is accepted in this
State, whether or not either party is then present in this State, if the acceptance:
(1) is communicated to the offeror in this State and the offeree reasonably believes the
offeror to be present in this State and the acceptance is received at the place in
this State to which it is directed; and
(2) has not previously been communicated to the offeror, orally or in a record, outside
this State.
(e) An offer to sell or to purchase is not made in this State when a publisher circulates
or there is circulated on the publisher’s behalf in this State a bona fide newspaper
or other publication of general, regular, and paid circulation that is not published
in this State, or that is published in this State but has had more than two-thirds
of its circulation outside this State during the previous 12 months or when a radio
or television program or other electronic communication originating outside this State
is received in this State. A radio or television program or other electronic communication
is considered as having originated in this State if either the broadcast studio or
the originating source of transmission is located in this State, unless:
(1) the program or communication is syndicated and distributed from outside this State
for redistribution to the general public in this State;
(2) the program or communication is supplied by a radio, television, or other electronic
network with the electronic signal originating from outside this State for redistribution
to the general public in this State;
(3) the program or communication is an electronic communication that originates outside
this State and is captured for redistribution to the general public in this State
by a community antenna or cable, radio, cable television, or other electronic system;
or
(4) the program or communication consists of an electronic communication that originates
in this State, but which is not intended for distribution to the general public in
this State.
(f) Subsections 5403(a), 5404(a), and 5405(a) and sections 5502, 5505, and 5506 of this
chapter apply to a person if the person engages in an act, practice, or course of
business instrumental in effecting prohibited or actionable conduct in this State,
whether or not either party is then present in this State.
(g) This section does not limit the scope of personal jurisdiction to the extent such
jurisdiction may be established pursuant to 12 V.S.A. § 913 (the Vermont “long arm” statute). (Added 2005, No. 11, § 1, eff. July 1, 2006.)