Rhode Island General Laws 7-11.2-5. Immunity from liability
Current as of: 2023 | Check for updates
|
Other versions
Notwithstanding any other provision of law to the contrary, a broker-dealer, agent, or qualified individual who, in good faith and exercising reasonable care, complies with the provisions of this chapter shall be immune from any civil liability under this chapter.
History of Section.
P.L. 2019, ch. 225, § 1; P.L. 2019, ch. 231, § 1.
Terms Used In Rhode Island General Laws 7-11.2-5
- Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities; provided, that a partner, officer, or director of a broker-dealer or issuer, or an individual having a similar status or performing similar functions, is an agent only if the individual otherwise comes within the term. See Rhode Island General Laws 7-11.2-2
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Rhode Island General Laws 7-11.2-2
- Qualified individual: means a person associated with a broker-dealer who serves in a supervisory, compliance, or legal capacity as part of his or her job. See Rhode Island General Laws 7-11.2-2