Tennessee § 48-1-101 - Short title.

§ 48-1-101. Short title.

This part shall be known as the “Tennessee Securities Act of 1980.” Acts 1980, ch. 866, § 1; T.C.A., § 48-16-101 ; T.C.A., § 48-2-101 . Code Commission Notes. The section containing the statement of legislative intent on the Tennessee Securities Act of 1980 was not codified, but is still valid, and can be found at Acts 1980, ch. 866, § 25. Former title 48, chapter 2, §§ 48-2-101 — 48-2-126 , was transferred to title 48, chapter 1, §§ 48-1-101 — 48-1-126 , by the code commission in 2012. Former § 48-2-101 was transferred to § 48-1-101 by the code commission in 2012. Compiler's Notes. The Securities Law of 1955, formerly codified as §§ 48-1601 — 48-1653, was repealed by Acts 1980, ch. 886, § 27. However, the section also contained a savings provision referring to former §§ 48-1601 — 48-1653 which read: “(b) Prior law exclusively governs all suits, actions, prosecutions, or proceedings which are pending or may be initiated on the basis of facts or circumstances occurring before the effective date of this Act, except that no civil suit or action may be maintained to enforce any liability under prior law unless brought within any period of limitation which applied when the cause of action accrued and in any event within two years after the effective date of this Act. “(c) All effective registrations under prior law, all administrative orders relating to such registrations, and all conditions imposed upon such registrations remain in effect so long as they would have remained in effect if this Act had not been passed. They are considered to have been filed, entered, or imposed under this Act, but are governed by prior law. “(d) Prior law applies in respect of any sale made within one year after the effective date of this Act pursuant to an offering exempt under prior law which offering was begun in good faith before such effective date. “(e) Judicial review of all administrative orders as to which review proceedings have not been instituted by the effective date of this Act are governed by Section 20, except that no review proceeding may be instituted unless the petition is filed within any period of limitation which applied to a review proceeding when the order was entered and in any event within 60 days after the effective date of this Act.” The effective date of the Act was July 2, 1980. Cross-References. Occupation tax on broker-dealers, agents and advisors, title 67, ch. 4, part 17. Tennessee Control Share Acquisition Act, title 48, ch. 103, part 3. Tennessee Greenmail Act, title 48, ch. 103, part 5. Textbooks. Tennessee Jurisprudence, 7 Tenn. Juris., Corporations, §§ 2, 42. Law Reviews. 19th Annual Institute for Law and Economic Policy Conference: The Economics of Aggregate Litigation: Setting Attorneys' Fees in Securities Class Actions: An Empirical Assessment, 66 Vand. L. Rev. 1677 (2013). 19th Annual Institute for Law and Economic Policy Conference: The Economics of Aggregate Litigation: Understanding Causation in Private Securities Lawsuits: Building on Amgen, 66 Vand. L. Rev. 1719 (2013). 19th Annual Institute for Law and Economic Policy Conference: The Economics of Aggregate Litigation: The Fraud-on-the-Market Tort, 66 Vand. L. Rev. 1755 (2013). Constitutionalizing Corporate Law, 69 Vand. L. Rev. 639 (2016). Human Equity? Regulating the New Income Share Agreements, 68 Vand. L. Rev. 681 (2015). Is FINRA a State Actor? A Question that Exposes the Flaws of the State Action Doctrine and Suggests a Way to Redeem It, 67 Vand. L. Rev. 1173 (2014). SEC Injunctions, 68 Tenn. L. Rev. 427 (2001). Securities Issuer Liability for Third Party Misstatements: Refining the Entanglement Standard, 53 Vand. L. Rev. 947 (2000). The Court in Action: A summary of key cases from the U.S. Supreme Court 2000-2001 (Perry A. Craft and Arshad (Paku) Khan), 37 Tenn. B.J. 18 (2001). The Curious Case of the Secondary Market with Respect to Investor Protection, 82 Tenn. L. Rev. 83 (2014). The Supreme Court and the Definition of “Security”: The “Context” Clause, “Investment Contract” Analysis, and Their Ramifications (Marc I. Steinberg and William E. Kaulbach), 40 Vand. L. Rev. 489 (1987). “Uniform” Standards for Securities Class Actions, 80 Tenn. L. Rev. 167 (2012).