Chap. 247.—An ACT requiring nonresident persons, associations, partnerships an
corporations establishing and/or maintaining a place of business in this Stat
for the advertising, offering and/or sale of securities to appoint, by writte
power of attorney, the secretary of the Commonwealth and his successors i
office, as the agents of such nonresidents, upon whom may be served an
process against, or notice to such nonresident; to provide for the admissibilit
in evidence of certified copies of the power of attorney provided for; to empowe:
the State corporation commission to enjoin or restrain the advertising, offering
and/or sale of securities by such nonresidents, and their agents and employees
and to prescribe penalties. [S B 152

Approved March 23, 1932

I. Be it enacted by the general assembly of Virginia, That it shall
hereafter be unlawful for any nonresident person, partnership, associa-
tion or corporation, who or which established and/or maintains a place
of business within this State for the purpose of advertising, offering
and/or for the sale of securities, in any manner, in this State, to
advertise, offer and/or sell securities within this State and/or who
or which shall do any act in furtherance of the advertising, offering
and/or sale of securities unless such nonresident person, partnership,
association or corporation, shall, by written power of attorney, appoint
the secretary of the Commonwealth and his successor in office, as the
agents of any such nonresident person, partnership, association or cor-
poration, upon whom shall be served any process against, or notice to,
any such nonresident, person, firm, co-partnership, corporation, associa-
tion or society, in any action or proceeding arising out of the advertis-
ing, offering and/or sale of securities or in furtherance thereof within
this State and the secretary of the Commonwealth shall be authorized
to enter appearance in behalf of such nonresident person, firm, co-
partnership, corporation, association or society. The service of process
shall only be made upon the secretary of the Commonwealth, or in his
absence, upon the person in charge of his office. A copy of such power
of attorney, duly certified and authenticated, shall be filed with the
secretary of the Commonwealth, and copies thereof duly certified by
the secretary of the Commonwealth shall be received as evidence of
service in all courts of this State. No judgment shall be entered
against any such nonresident under this section until after the process
has been served, as aforesaid, at least ten days. Notice of the service
of such process on the secretary of the Commonwealth shall be given
to nonresidents specified herein in the same manner as provided for
by section thirty-eight hundred and forty-six of the Code of Virginia,
nineteen hundred and nineteen, and the fees allowed by section thirty-
eight hundred and forty-six shall be applicable to this act.

2. (a) For the purposes of this act the State corporation com-
mission shall have jurisdiction to forthwith enjoin any nonresident as
specified herein, who or which shall fail to comply with the provisions
of this act upon the filing of an affidavit with the clerk of the State
‘orporation commission by any resident of this State, and such affidavit
shall set forth such facts as will clearly indicate that any nonresident
subject to the provisions of this act has failed to comply with said
srovisions, from advertising, offering and/or selling securities or in
furtherance of the advertising, offering and/or sale of securities within
this State, either temporarily or permanently, as may be advisable for
the protection of the public.

(b) Service of process in any proceeding by virtue of the provi-
sions of section two of this act shall be upon the person in charge
of the place of business of such nonresident, and for the accomplish-
ae of the purposes of this act such service shall be sufficient and
valid.

3. (a) Any person employed by any nonresident specified herein
who shall do any act in furtherance of the advertising, offering and/or
sale of securities for or on behalf of any such nonresident who or
which has failed to comply with the provisions of this act, shall be
liable to any purchaser in any action growing out of the sale of securi-
ties to such purchaser for the full purchase price, together with all
taxable court costs and a reasonable attorney fee.

(b) Any person employed by any. nonresident specified herein who
shall do any act in furtherance of the advertising, offering and/or sale
of securities for or on behalf of any such nonresident who has failed
to comply with the provisions of this act shall be guilty of a mis-
demeanor and upon conviction thereof shall be fined not more than five
thousand dollars. ,

4. Nothing in this act shall be construed as making any nonresident
as specified herein liable for taxes where the business being. conducted
is interstate in character. ,

5. If any section of this act shall be declared unconstitutional for
any reason, the remainder of the act shall not be affected thereby.

6. An emergency existing this act shall be in force from its
passage.

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