                                 CODE OF VIRGINIA

COMMISSION AUTHORITY TO REGULATE SECURITIES AND INVESTMENT ADVISORY ACTIVITIES
(§ 13.1-523.1)

A. The Commission shall have all the power, authority and jurisdiction reserved
to or conferred upon the states by the federal National Securities Markets
Improvement Act of 1996 (Pub. L. No. 104-290 (1996)) to regulate securities and
investment advisory activities, including the authority to require the
registration of persons and securities, the filing of documents, notices,
reports and information, and the payment of fees, and to exercise its
administrative, investigative, judicial and legislative powers with respect
thereto. The Commission shall have the authority to make, amend and rescind such
rules and forms in conformance with the National Securities Markets Improvement
Act of 1996 as may be necessary for the regulation of securities and investment
advisory activities and transactions within its jurisdiction.

B. The Commission may by rule or order, with respect to any security that is a
federal covered security under &#xA7; 18(b)(4)(C) of the Securities Act of 1933,
require the issuer to file a notice together with a consent to service of
process where (i) the principal place of business of the issuer is in the
Commonwealth or (ii) purchasers of 50 percent or more of the securities sold by
the issuer pursuant to an offering made in reliance on &#xA7; 18(b)(4)(C) of the
Securities Act of 1933 are residents of the Commonwealth. The Commission may
assess and collect in connection with any filing pursuant to this subsection a
nonrefundable filing fee not to exceed $100.

HISTORY: 1997, c. 279; 2017, c. 754.