House Bill 1088
DIGEST
Statutes of limitations for securities violations. Specifies that an action brought by a person for an alleged violation of the Indiana Uniform Securities Act (Act) involving: (1) the sale of a security; or (2) the providing of investment advice; must be commenced not later than three years after the person bringing the action has actual knowledge of the violation. (Current law provides that the action must be commenced within three years after discovery by the person bringing the action of the violation.) Provides that a prosecution for an offense under the Act is barred unless commenced within five years after
Statutes of limitations for securities violations. Specifies that an action brought by a person for an alleged violation of the Indiana Uniform Securities Act (Act) involving: (1) the sale of a security; or (2) the providing of investment advice; must be commenced not later than three years after the person bringing the action has actual knowledge of the violation. (Current law provides that the action must be commenced within three years after discovery by the person bringing the action of the violation.) Provides that a prosecution for an offense under the Act is barred unless commenced within five years after
the date on which the state first discovers evidence sufficient to charge the offender with the offense.
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