(1) The purpose of this chapter is to:
(a) Protect investors by preventing investment fraud and related illegal conduct or, if this fraud or illegal conduct has already occurred, remedying, where possible, the harm done to investors through active implementation and application of this chapter's enforcement powers;
(b) Educate the investing public as to the best methods for making informed investment choices; and
(c) Assist companies in their legitimate attempts to raise capital and transact in securities in Kentucky.
(2) In addition, this chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of this chapter with the related federal regulation. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 82, sec. 14, effective July 15, 2010. -- Amended 1998 Ky. Acts ch. 20, sec. 23, effective July 15, 1998. -- Created 1960 Ky. Acts ch. 110, sec. 22, effective January 1, 1961.
Notes of Decisions
Rosen v. Commonwealth, Pub. Prot. Cabinet, Dep't of Fin. Institutions, 451 S.W.3d 669 (Ky. Ct. App. 2014).
· cites it 3× “■ To interpret the definition of investment adviser in KRS Chapter 292, the court looked at the purpose of the chapter, found in KRS 292.530, which is to protect investors by preventing investment fraud and illegal conduct, and to educate the public to make informed investment…”
Dolomite Energy, LLC v. Commonwealth Off. of Fin. Institutions, 269 S.W.3d 883 (Ky. Ct. App. 2008).
· cites it 2× “KRS 292.530. Purpose of Chapter. (1) The purpose of this chapter is to: (a)[p]rotect Kentucky investors by preventing investment fraud and related illegal conduct or, if this fraud or illegal conduct has already occurred, remedying, where possible, the harm done to Kentucky…”
Booth v. Verity, Inc., 124 F. Supp. 2d 452 (W.D. Ky. 2000).
“§ 292.530(2) the Kentucky legislature explicitly adopted the policy of the Uniform Securities Act stating that “this chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it [the Uniform Securities Act] and to…”
Cali-Ken Petroleum Co., Inc. v. Miller, 815 F. Supp. 216 (W.D. Ky. 1993).
· cites it 2× “” KRS 292.530. This overriding policy lends significant weight to the Supreme Court’s recent pronouncement that litigation under federal statutes virtually identical to Kentucky’s Blue Sky law 4 “must be commenced within one year after the discovery of the facts constituting the…”
Allstate Indus. Loan Plan, Inc. v. Mihalek, 555 S.W.2d 585 (Ky. 1977).
“KRS 292.530 provides: “This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of this chapter with the related federal regulation.”
— Ky. Rev. Stat. § 292.530(2) — 1 case
Booth v. Verity, Inc., 124 F. Supp. 2d 452 (W.D. Ky. 2000).
“§ 292.530(2) the Kentucky legislature explicitly adopted the policy of the Uniform Securities Act stating that “this chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it [the Uniform Securities Act] and to…”
— Ky. Rev. Stat. § 292.530(l)(a)(b)(e) — 1 case
Dolomite Energy, LLC v. Commonwealth Off. of Fin. Institutions, 269 S.W.3d 883 (Ky. Ct. App. 2008).
“KRS 292.530. Purpose of Chapter. (1) The purpose of this chapter is to: (a)[p]rotect Kentucky investors by preventing investment fraud and related illegal conduct or, if this fraud or illegal conduct has already occurred, remedying, where possible, the harm done to Kentucky…”
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