Sec. 34. (a) The securities division of the office of the secretary of state shall administer this chapter.

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Terms Used In Indiana Code 23-2-6-34

  • commissioner: refers to the securities commissioner appointed under IC 23-19-6-1(a). See Indiana Code 23-2-6-2
  • commodity: means , except as otherwise specified by a rule, regulation, or order of the commissioner, any of the following:

    Indiana Code 23-2-6-4

  • 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.
  • person: means an individual, a corporation, a partnership, a limited liability company, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Indiana Code 23-2-6-14
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
     (b) The commissioner and any employees of the commissioner may not do the following:

(1) Use for personal gain or benefit any information that:

(A) is filed with the commissioner or obtained by the commissioner; and

(B) is not public information.

(2) Conduct securities dealings or commodity dealings based on public or confidential information that is filed with the commissioner or obtained by the commissioner if there has not been a sufficient time for the securities markets or commodity markets to assimilate the information.

     (c) Except as provided in subsection (d), all information that is collected, assembled, or maintained by the commissioner:

(1) is public information; and

(2) is available for inspection by the public.

     (d) The following information is not public information and may not be made available by the commissioner for public inspection:

(1) Information obtained in private investigations under section 28(a) or 28(d) of this chapter.

(2) Information that:

(A) is obtained from a federal agency; and

(B) may not be disclosed under federal law.

     (e) The commissioner shall have the discretion to disclose any information that is confidential under subsection (d)(1) to a person described in section 35(a) of this chapter.

     (f) This chapter does not create or derogate any privilege that exists at common law, by statute, or otherwise, when any documentary evidence or other evidence is sought under subpoena directed to the commissioner or any employee of the commissioner.

As added by P.L.177-1991, SEC.10.

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