1960

LAWS OF MARYLAND

[Ch. 311

REVISOR'S NOTE: This section presently appears as
Art. 73, §27. Nomenclature is conformed.

The catchline is changed to read "Short title"
and "The Uniform Limited Partnership Act" is
changed to read "The Maryland Uniform Limited
Partnership Act." The name "Maryland"
indicates that it is the Uniform Act of the
State of Maryland, and not necessarily the
Uniform Act as adopted by other states.

No other changes are made.

TITLE 11. MARYLAND SECURITIES ACT.

SUBTITLE 1. DEFINITIONS; GENERAL PROVISIONS.

11-101. DEFINITIONS.

(A)       IN GENERAL.

IN THIS TITLE, UNLESS THE [[CONTRACT]] CONTEXT
REQUIRES OTHERWISE, THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)        AGENT.

(1)     "AGENT" MEANS AN INDIVIDUAL OTHER THAN A
BROKER-DEALER WHO REPRESENTS A BROKER-DEALER OR ISSUER IN
EFFECTING OR ATTEMPTING TO EFFECT THE PURCHASE OR SALE
OF SECURITIES.

(2)          "AGENT" INCLUDES A PARTNER, OFFICER, OR
DIRECTOR OF A BROKER-DEALER OR ISSUER, OR A PERSON
OCCUPYING A SIMILAR STATUS OR PERFORMING SIMILAR
FUNCTIONS, ONLY IF HE OTHERWISE COMES WITHIN THIS
DEFINITION.

(3)        "AGENT" DOES NOT INCLUDE AN INDIVIDUAL
WHO REPRESENTS AN ISSUER IN:

(I)         EFFECTING A TRANSACTION IN A SECURITY

EXEMPTED BY §11-601 (1), (2), (3), (10), OR (11) OF THIS
TITLE;

(II)        EFFECTING A TRANSACTION EXEMPTED BY
§11-602 OF THIS TITLE; OR

(III)          EFFECTING A TRANSACTION WITH AN

EXISTING EMPLOYEE, PARTNER, OR DIRECTOR OF THE ISSUER
IF NO COMMISSION OR OTHER REMUNERATION IS PAID OR GIVEN
DIRECTLY OR INDIRECTLY FOR SOLICITING ANY PERSON IN THE