Ohio § 1707.055
Full text of Ohio Ohio Revised Code § 1707.055, with citation guidance and answers to common questions.
§ 1707.055.
No portal operator that is not also a licensed dealer shall do any of the following: (A) Offer investment advice or recommendations, or solicit the purchase or sale of securities. For purposes of this division, a portal operator shall not be considered to be offering
investment advice or recommendations merely because it selects, or may perform due
diligence with respect to, issuers or offerings to be listed or merely because it
provides general investor educational materials. (B) Provide transaction-based compensation for securities sold under this chapter to
employees, agents, or other persons unless the employees, agents, or other persons
are licensed under this chapter and permitted to receive such compensation. (C) Charge a fee to the issuer for an offering of securities on an OhioInvests portal
unless the fee is one of the following: (1) A fixed amount for each offering; (2) A variable amount based on the length of time that the securities are offered on
the portal; (3) A combination of such fixed or variable amounts. (D) Hold, manage, possess, or otherwise handle purchaser funds or securities, unless
the portal operator is the issuer. (E) No portal operator shall allow its officers, directors, or partners, or any person
occupying similar status or performing similar function, to have a financial interest
in an OhioInvests issuer using the services of the portal operator, or receive a financial
interest in the OhioInvests issuer as compensation for services provided to, or for
the benefit of, the OhioInvests issuer, in connection with the offer and sale of its
securities.
Frequently Asked Questions About Ohio § 1707.055
What does Ohio Revised Code § 1707.055 cover?
Section 1707.055 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1707.055?
A common citation format is "Ohio Revised Code § 1707.055" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1707.055 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.