# Minn. Stat. § 80A.48: SECTION 204; DENIAL, SUSPENSION, REVOCATION, CONDITION, OR LIMITATION OF EXEMPTIONS

> Minnesota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.48

## Section

- **Citation:** Minn. Stat. § 80A.48
- **Heading:** SECTION 204; DENIAL, SUSPENSION, REVOCATION, CONDITION, OR LIMITATION OF EXEMPTIONS
- **Jurisdiction:** Minnesota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MN Code / Part 80_80A / Chapter 80A / Section 80A.48

## Text

(a) Enforcement related powers. Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this chapter may deny, suspend application of, condition, limit, or revoke an exemption created under section 80A.45(3)(C), (7) or (8) or 80A.46 or an exemption or waiver created under section 80A.47 with respect to a specific security, transaction, or offer. An order under this section may be issued only pursuant to the procedures in section 80A.54(d) or 80A.81 and only prospectively.

(b) Knowledge of order required. A person does not violate sections 80A.49, 80A.51 through 80A.54, 80A.71, or 80A.77 by an offer to sell, offer to purchase, sale, or purchase effected after the entry of an order issued under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.

## Nearby sections

- [Minn. Stat. § 80A.40 § 80A.40 SECTION 101; SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.40.md)
- [Minn. Stat. § 80A.41 § 80A.41 SECTION 102; DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.41.md)
- [Minn. Stat. § 80A.42 § 80A.42 SECTION 103; REFERENCES TO FEDERAL STATUTES.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.42.md)
- [Minn. Stat. § 80A.43 § 80A.43 SECTION 104; REFERENCES TO FEDERAL AGENCIES.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.43.md)
- [Minn. Stat. § 80A.44 § 80A.44 SECTION 105; ELECTRONIC RECORDS AND SIGNATURES.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.44.md)
- [Minn. Stat. § 80A.45 § 80A.45 SECTION 201; EXEMPT SECURITIES.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.45.md)
- [Minn. Stat. § 80A.46 § 80A.46 SECTION 202; EXEMPT TRANSACTIONS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.46.md)
- [Minn. Stat. § 80A.47 § 80A.47 SECTION 203; ADDITIONAL EXEMPTIONS AND WAIVERS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.47.md)
- [Minn. Stat. § 80A.48 § 80A.48 SECTION 204; DENIAL, SUSPENSION, REVOCATION, CONDITION, OR LIMITATION OF EXEMPTIONS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.48.md)
- [Minn. Stat. § 80A.49 § 80A.49 SECTION 301; SECURITIES REGISTRATION REQUIREMENT.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.49.md)
- [Minn. Stat. § 80A.50 § 80A.50 SECTION 302; FEDERAL COVERED SECURITIES; SMALL CORPORATE OFFERING REGISTRATION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.50.md)
- [Minn. Stat. § 80A.51 § 80A.51 SECTION 303; SECURITIES REGISTRATION BY COORDINATION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.51.md)
- [Minn. Stat. § 80A.52 § 80A.52 SECTION 304; SECURITIES REGISTRATION BY QUALIFICATION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.52.md)
- [Minn. Stat. § 80A.53 § 80A.53 SECTION 305; SECURITIES REGISTRATION FILINGS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.53.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MN_P80_80A_C80A_S80A.48. Check the current official text before relying on it. Not legal advice.