OFFERING/SALE OF UNREGISTERED SECURITIES - ELEMENTS
No person may be convicted of the offering/sale of unregistered securities, unless the State has proved beyond a reasonable doubt each element of the crime. These elements are:
First, the willful;
Third, of a security;
Fourth, that was not registered with the Oklahoma Securities Commission.
Statutory Authority: 71 O.S. 1991, §§ 301, 407.
Notes on Use
This Instruction covers prosecutions for violations of 71 O.S. 1991, § 301. For prosecutions of other violations of the Oklahoma Securities Act, the trial court will need to draft its own instructions.
For definitions of "security", see 71 O.S. Supp. 1996, § 2(s).
The Committee did not include the requirement that the security or transaction was not exempt as an element, because the burden of proving an exemption from the registration requirement under 71 O.S. 1991, § 301 is on the defendant. 71 O.S. 1991, § 401(e). See OUJI-CR 5-128, infra.