WILLIAM DONALD SCHAEFER, Governor Ch. 533

(ii) If the buyer received the offer before
suit and at a time when he did not own the security, unless he
rejected the offer in writing within 30 days of its receipt; or

(iii) If the seller received a written offer
from the buyer, before suit, to return the security, together
with the amount of any income received on the security, less
interest at 6 percent per year from the date of payment, and he
failed to accept the offer within 30 days of its receipt.

(g) A person may not base any suit on any contract if he:

(1)  Has made or engaged in the performance of the
contract in violation of any provision of this title or any rule
or order under this title; or

(2)  Has acquired any purported right under the
contract with knowledge of the facts by reason of which its
making or performance was in violation.

(h) Any condition, stipulation, or provision binding any
person acquiring any security to waive compliance with any
provision of this title or any rule or order under this title is
void.

(i) The rights and remedies provided by this title are in
addition to any other rights or remedies that may exist at law or
in equity, but this title does not create any cause of action not
specified in this section or § 11-410 of this title.

11-705.

(a)  (1) Any person who willfully violates any provision of
this title, except § 11-303 [or § 11-904(b)(1)] of this title or
who willfully violates any rule or order under this title, or who
willfully violates § 11-303 [or § ll-904(b)(1)] of this title
knowing the statement made to be false or misleading in any
material respect, on conviction is subject to a fine not
exceeding [$5,000] $50,000 or imprisonment not exceeding three
years or both;

(2)  A person may not be imprisoned for the violation
of any rule or order if he proves that he had no knowledge of the
rule or order.

(3)  An indictment or information may not be returned
under this title more than five years after the alleged
violation.

(b)  The Commissioner may refer available evidence
concerning violations of this title or of any rule or order under
this title to the State's Attorney OR THE ATTORNEY GENERAL who,

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