Maine Revised Statutes Title 32 Sec. 11304 – Criminal penalties
Current as of: 2023 | Check for updates
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1. Knowing violation. Any person who knowingly violates any provision of this chapter or any rule or order of the administrator under this chapter is guilty of a Class C crime, except that, notwithstanding Title 17?A, sections 1704 and 1705, the maximum fine is $10,000 or any higher amount that does not exceed twice the pecuniary gain derived from the crime by the defendant pursuant to Title 17?A, section 1706, subsection 1.
[PL 2019, c. 113, Pt. C, §83 (AMD).]
Attorney's Note
Under the Maine Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class C crime | up to 5 years | up to $5,000 |
Terms Used In Maine Revised Statutes Title 32 Sec. 11304
- Administrator: means the Securities Administrator. See Maine Revised Statutes Title 32 Sec. 11201
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- 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, 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, but does not include, a contract market designated by the Commodity Futures Trading Commission or any clearinghouse of the Commodity Futures Trading Commission or a national securities exchange registered with the United States Securities and Exchange Commission, or any employee, officer or director of such contract market, clearinghouse or exchange acting solely in that capacity. See Maine Revised Statutes Title 32 Sec. 11201
2. Prosecution. The administrator may refer such evidence as is available concerning violations of this chapter or any rule or order of the administrator to the Attorney General or the proper district attorney, who may, with or without such a reference from the administrator, institute the appropriate criminal proceedings under this chapter.
[PL 1989, c. 542, §78 (AMD).]
SECTION HISTORY
PL 1985, c. 643 (NEW). PL 1989, c. 542, §78 (AMD). PL 2019, c. 113, Pt. C, §83 (AMD).