Minnesota Statutes

Minn. Stat. § 80A.15 (2026)

[Repealed]

✓ current as of May 2026

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[Repealed, 2006 c 196 art 1 s 51,52]

Notes of Decisions

Cited in 8 cases, 1980–2009 · leading case: Risdall v. Brown-Wilbert, Inc., 753 N.W.2d 723 (Minn. 2008).

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Risdall v. Brown-Wilbert, Inc., 753 N.W.2d 723 (Minn. 2008). · cites it 18× “According to appellants, the stock offering did not qualify for the Minn.Stat. § 80A.15, subd. 2(h) (2006), exemption from registration because respondents violated a condition of the exemption by engaging in general solicitation and advertising.”

Risdall v. Brown-Wilbert, Inc., 759 N.W.2d 67 (Minn. Ct. App. 2009). · cites it 6× “08, which makes it unlawful to sell securities in Minnesota, unless they are (1) registered, (2) exempt from registration under Minn. Stat. § 80A.15, or (3) federal covered securities.”

Risdall v. Brown-Wilbert, Inc., 733 N.W.2d 827 (Minn. Ct. App. 2007). · cites it 10× “com argued that it is entitled to summary judgment because Minn.Stat. § 80A.15, subd. 2(h) (1998), provides an exemption from the registration requirement for stock that is sold “in reliance on” the Regulation D exemption.”

Logan v. Panuska, 293 N.W.2d 359 (Minn. 1980). · cites it 4× “31 or (b) the security or transaction is exempted under section 80A.15." Minn.St. 80A.08. Minn.St.”

Bormann v. Applied Vision Sys., Inc., 800 F. Supp. 800 (D. Minnesota 1992). · cites it 4× “Defendants complied with the Minnesota and North Dakota blue sky laws, pursuant to Minnesota Statutes, § 80A.15, and North Dakota Century Code, § 10-04-06, on April 30, and August 3, 1987, respectively.”

Caucus Distributors, Inc. v. Comm'r of Com., 422 N.W.2d 264 (Minn. Ct. App. 1988). · cites it 2× “Minn.Stat. § 80A.15, subd. 4 (1984). Both parties agree there is no applicable Minnesota caselaw defining security in a context similar to the notes at issue here.”

In Re Prof'l Fin. Mgmt., Ltd., 692 F. Supp. 1057 (D. Minnesota 1988). · cites it 2× “31 or (b) the security or transaction is exempt under section 80A.15. Minn.Stat. § 80A.08 (1973).”

Calvert v. Bongards Creameries (In Re Schauer), 62 B.R. 526 (Bankr. D. Minn. 1986). “§ 80A.15 subd. 2(j). However, patronage dividends are not in themselves equity securities subject to the requirements of MINN.”

— Minn. Stat. § 80A.15(h)(10) — 1 case

Risdall v. Brown-Wilbert, Inc., 759 N.W.2d 67 (Minn. Ct. App. 2009). “08, which makes it unlawful to sell securities in Minnesota, unless they are (1) registered, (2) exempt from registration under Minn. Stat. § 80A.15, or (3) federal covered securities.”

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