N.Y.
Business Corporation Law Section 1605
Violations
- penalties
(a)
Every person who willfully violates any provision of this article shall be guilty of a class E felony; every person who willfully violates any order, rule or regulation issued pursuant thereto, shall be guilty of a class A misdemeanor.(b)
A violation of any provision of this article shall constitute a fraudulent practice within the meaning of article twenty-three-A of the general business law.(c)
Every person who violates any provision of this article shall be subject to a civil penalty of one thousand dollars per violation if a natural person or ten thousand dollars per violation if a corporation. When the violation is the failure to file a registration statement as required by subdivision (a) of § 1602 (Disclosure requirement)section sixteen hundred two of this article, the failure to file a solicitation or recommendation as required by subdivision (c) of § 1602 (Disclosure requirement)section sixteen hundred two of this article, or the failure to amend such registration statement as required by subdivision (b) of § 1603 (Contents of registration statement)section sixteen hundred three of this article, each business day of non-registration or failure to file a recommendation or solicitation or failure to amend constitutes a separate violation. The penalty imposed by this section shall be cumulative and more than one penalty shall be recoverable in the same action in any court of competent jurisdiction.
Source:
Section 1605 — Violations; penalties, https://www.nysenate.gov/legislation/laws/BSC/1605 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
