Securities Law Questions & Answers by State

Securities Law Questions & Answers

Q: Hi,my tenant in Ohio terminated lease agreement, I want to return security deposit should I pay interest to him?

1 Answer | Asked in Securities Law and Landlord - Tenant for California on
Answered on Jul 24, 2017

Generally, security deposits are returned without interest. Deposits are placed to cover possible damage. Deposits are not an investment.
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Q: We received an adverse claim regarding the 3,106,000 shares of SFRX.What can I do

2 Answers | Asked in Contracts, Broker Fraud, Business Law and Securities Law for Florida on
Answered on Jul 22, 2017

You need the services of an attorney who works for you, not the other party. I don't know why you were required to pay the other party's attorney, but it may be something in the contract. Your attorney can review the whole matter and advise you.
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Q: Is it illegal to hack into someone's Twitter account without the owner knowing ? And if so what are the penalties

1 Answer | Asked in Criminal Law and Securities Law for Texas on
Answered on Jul 17, 2017

Yes it is illegal, see the Texas Penal Code Chapter 7, Section 33. The penalties for computer crimes are of a wide variety depending on the nature and seriousness of the crime committed. For the breach of computer security (i.e. gaining access to a computer without the consent of the owner), the penalty may range all the way from a "Class B" misdemeanor (up to 180 days in a county jail and/or a fine of up to $2,000) up to a first degree felony (five to 99 years in a state prison and/or a fine...
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Q: 30 day rule of security deposit. I moved out on May 31st they sent me a letter on June 29th didn't receive til 7/3

1 Answer | Asked in Securities Law and Landlord - Tenant for Massachusetts on
Answered on Jul 14, 2017

Have they refunded you? If not, did they provide reasons and invoices for repairs in writing? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts,...
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Q: Does a brokerage firm have a right to deny my application to open a cash brokerage account? (please provide references)

1 Answer | Asked in Securities Law for New York on
Answered on Jul 14, 2017

For what reason? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not...
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Q: Can my friend regain control of his own money?

1 Answer | Asked in Family Law, Estate Planning and Securities Law for Connecticut on
Answered on Jul 12, 2017

This question requires much more information to give a good answer. 1. it depends what type of trust. is it revocable, irrevocable, is it a special needs trust? 2. is your friend on government benefits? if so he would not want to have control over the assets as he would likely be disqualified from certain government benefits he is receiving. 3. is there a successor trustee appointed for the trust? If so, would he like them better? 4. is there a reason brother is being "cheap"? Possibly to avoid...

Q: If a person commits the crime of "hindering a secured creditor" but the value is greater than $999.

1 Answer | Asked in Business Law, Contracts, Securities Law and Criminal Law for Tennessee on
Answered on Jul 11, 2017

Sorry, but your question is unclear- hindering a secured creditor is a class "E" felony. Some theft offenses are graded according to the value - in some situations under $500 or $1,000 could be a misdemeanor. However, this code section says its a felony. If you have not already done so, report the offense to the police and help the District attorney prosecute the offender. Consider speaking to an attorney to give you advice on possible civil remedies.
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Q: Can a person in the process of getting their greencard travel within the states?

2 Answers | Asked in Immigration Law, Juvenile Law and Securities Law for Texas on
Answered on Jun 28, 2017

Under what section of the law is this student entitled to get a green card? Your question does not show that he is eligible for one at all. Even if he is, merely filing for a green card does not confer any legal status in the United States unless the applicant is in this country with some other legal status. If the young man does not have any legal status and US immigration officers see a letter from a judge saying that it would not be in his best interests to be sent back to Mexico, the letter...
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Q: Can people be removed from a TOD annuity account?

1 Answer | Asked in Estate Planning, Banking and Securities Law for Arizona on
Answered on Jun 22, 2017

Assuming this was done as a way to name beneficiaries, and also assuming the owner is of sufficiently sound mind to make such a decision, of course.

If it is a trust account based on a document, you can't just change the designation at the broker but you have to also change the trust.

If there is the slightest hint of undue influence or duress however, this can get tricky. I'd advise consulting with a local attorney if there are any doubts whatsoever, or if the stock account...
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Q: Working with an employer on H1b (work) visa. Not allowed to work with other employers. How can I register as reg. rep?

1 Answer | Asked in Immigration Law and Securities Law for California on
Answered on Jun 16, 2017

If the person you want to associate with offers you a job working for him on a salary basis, he can file a "concurrent" H-1B petition so you can work in both jobs at the same time. Or, if you want to leave your current job, he could file an H-1B transfer petition for you. But these strategies would work only if there is a real employer-employee relationship. .
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Q: Does a broker have to - by law - submit a commission statement or similar invoice in order to receive their commission?

1 Answer | Asked in Real Estate Law, Business Law and Securities Law for New York on
Answered on Jun 12, 2017

I am not aware of any law requiring a commission statement, however just about every closing I have handled, literally hundreds, the broker has almost always created a memorandum of sale at the outset which delineates the parties, price, and terms of the deal and then prior to closing the broker or broker's send an invoice to notify the buyer / seller's attorney how much is owed and how to make the check out. Considering the small amount of time and effort it takes to put together an invoice /...
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Q: How long of a period before landlord are legal suppose to refund tenant security plus interest It has been 6 months.

1 Answer | Asked in Landlord - Tenant and Securities Law for New York on
Answered on Jun 5, 2017

You should have received the refund by now if there were no damages or arrears. I would suggest you send a demand notice to the Landlord and follow up with a small claims action, if necessary, assuming the deposit was $5,000 or less.

#LegalQ&A
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Q: my question concerns embezzlement of a contract in which I was a joint tenet with my now deceased brother...

1 Answer | Asked in Criminal Law, Consumer Law, Identity Theft and Securities Law for California on
Answered on May 22, 2017

You may be able to sue for the forgery and fraud, and you can report crimes to the police and the attorney general. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice law in CA, NY, MA, and DC in the following areas of law: Business &...
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Q: What's the best way to check a broker's credentials?

1 Answer | Asked in Securities Law for Illinois on
Answered on Apr 28, 2017

For free, FINRA Broker Check is your best bet. The report will show education, employment, and complaint history for licensed brokers: https://brokercheck.finra.org/
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Q: How can I freeze my mom bank accounts?

1 Answer | Asked in Banking, Civil Litigation, Probate and Securities Law for Ohio on
Answered on Apr 26, 2017

1) Not having a will doesn't mean you don't have to go through probate. Indeed, it likely means you WILL have to go through probate.

2) Simply inform the banks your mother has died, and call the credit card companies with the same information. They will freeze the account automatically until someone is appointed by the Court to act for the Estate.

3) and most importantly, hire a local probate attorney.

Do that yesterday.

You need legal representation...
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Q: Why would a mall cop come to your car after you've been sitting parked in a lot for twenty minutes?

2 Answers | Asked in Criminal Law and Securities Law for New York on
Answered on Apr 23, 2017

The only thing I can see from the above fact pattern is that, perhaps, you were trespassing… Although after just 15 minutes I would think of you as "an invitee" as opposed to a "trespasser."

Regardless, if either of the store or, in the unlikely event the town police brought a legal action against you, you have the most common and effective defense to trespassing… Namely, as you said above and thus would testify to, (I had to) make a phone call and...wanted to do so safely)."...
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Q: I pitched a technology start-up idea to a family relative, he liked it and agreed to invest.

1 Answer | Asked in Business Formation, Business Law and Securities Law for Indiana on
Answered on Apr 10, 2017

The answer to your question depends on the Tax Treaty between your relatives home country and the USA. Generally, interest paid to foreign nationals on loans made in the USA are subject to US taxes and withholding. The amount of the tax and the withholding is dictated by a tax treaty between the USA and the foreign national. If there is no tax treaty then the US tax would be 30% subject to certain elections which could be made by the foreign national. The withholding would be at least 10%....
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Q: i have somebodys stocks from 1955 they are passed away can i get money from them

1 Answer | Asked in Probate and Securities Law for California on
Answered on Mar 30, 2017

Yes, if you are an heir to the estate. The correct probate procedure to use would depend on the type of property and the value of all the property in the estate. Consult with a probate attorney for a full consultation.
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Q: Having more than 10% of a corps shares, is one always considered an affiliate regardless of the holding period?

1 Answer | Asked in Securities Law and Business Law for District of Columbia on
Answered on Mar 24, 2017

See: https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html

See: https://media2.mofo.com/documents/faqrule144_145.pdf

More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website. I practice law in CA, NY, MA, and DC in the following...
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Q: My gpa passed away when I was 12 and left me a very large amount of money. Obviously I wasn't allowed to have it

1 Answer | Asked in Probate, Juvenile Law and Securities Law for Indiana on
Answered on Mar 1, 2017

You are legally entitled to the money that was left to you as a minor. Your mother as your custodian had a duty to hold that money for you until you came of age. You need to consult with an attorney as soon as possible to discuss your options as there may be an issue with the statute of limitations for bringing a claim against your mother to recover your inheritance.
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