North Dakota Code 51-23-15 – Administration of chapter
1. This chapter must be administered by the securities commissioner.
Terms Used In North Dakota Code 51-23-15
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Statute: A law passed by a legislature.
- Subpoena: A command to a witness to appear and give testimony.
2. Neither the commissioner nor any employees of the commissioner may use any information which is filed with or obtained by the commissioner which is not public information for personal gain or benefit, nor may the commissioner nor any employees of the commissioner conduct any securities or commodity dealings whatsoever based upon any such information, even though public, if there has not been a sufficient period of time for the securities or commodity markets to assimilate such information.
3. a. Except as provided in subdivision b, all information collected, assembled, or maintained by the commissioner is public information and is available for the examination of the public.
b. The commissioner may keep confidential information obtained in private investigations pursuant to this chapter and information obtained from federal agencies which may not be disclosed under federal law.
c. No provision of this chapter either creates or derogates any privilege which exists at common law, by statute, or otherwise when any documentary or other evidence is sought under subpoena directed to the commissioner or any employee of the commissioner.