Bill > HB2048

This bill modifies two sections of Arizona's securities law to provide more clarity and precision around legal definitions and fraudulent practices. In Section 1, the bill amends the definition of "offer to sell" or "offer for sale" by adding language specifying that an offer occurs only when acceptance of the offer and payment of consideration would complete the sale. In Section 2, the bill updates the fraud provisions related to securities transactions by adding the phrase "or contemplated offer" to the existing language about fraudulent practices, which expands the scope of potential legal protection for investors by covering not just completed sales but also potential or proposed sales. The modifications aim to provide more explicit guidelines for what constitutes an offer and fraudulent activity in securities transactions, potentially making it easier for regulators and courts to interpret and enforce securities laws. The changes are technical in nature but could have important implications for how securities offerings are structured and how potential fraud is identified and prosecuted in Arizona.

Business and Industry

https://apps.azleg.gov/BillStatus/BillOverview/81706