(a) A person is guilty of the offense of Operating an Unauthorized Securities Exchange when they—

(1) advertise or represent an organization, business, or corporation as being a securities exchange, when it is not authorized by law to act as such; or

(2) facilitate or engage in the sale, trade, or exchange of securities on behalf of an organization, business or corporation, while not authorized to do so.

(b) Operating an Unauthorized Securities Exchange is a Third-Degree Felony.

Section History

Added: [Stat. 26-29, Kramerian Revised Criminal Code Act of 2026**)](https://ols.krameria.xyz/Stat-26-29-Kramerian-Revised-Criminal-Code-Act-of-2026-402b2321706548ffb2acd375eddb8ecd), § 107.04

Other Notes