# S.C. Code Ann. § 35-1-204: SECTION 35-1-204. Denial, suspension, revocation, condition, or limitation of exemptions

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-204

## Section

- **Citation:** S.C. Code Ann. § 35-1-204
- **Heading:** SECTION 35-1-204. Denial, suspension, revocation, condition, or limitation of exemptions
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 35 / Chapter 1 / Article 2 / Section 35-1-204

## Text

(a) 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 35-1-201(3)(C), (7) or (8) or 35-1-202 or an exemption or waiver created under Section 35-1-203 with respect to a specific security, transaction, or offer. An order under this section may be issued only pursuant to the procedures in Section 35-1-306(d) or 35-1-604 and only prospectively. (b) A person does not violate Section 35-1-301, 35-1-303 through 35-1-306, 35-1-504, or 35-1-510 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

- [S.C. Code Ann. § 35-1-201 SECTION 35-1-201. Exempt securities.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-201.md)
- [S.C. Code Ann. § 35-1-202 SECTION 35-1-202. Exempt transactions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-202.md)
- [S.C. Code Ann. § 35-1-203 SECTION 35-1-203. Additional exemptions and waivers.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-203.md)
- [S.C. Code Ann. § 35-1-204 SECTION 35-1-204. Denial, suspension, revocation, condition, or limitation of exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-204.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T35_C1_A2_S35-1-204. Check the current official text before relying on it. Not legal advice.