# S.C. Code Ann. § 39-73-70: SECTION 39-73-70. Agency, vicarious, and joint and several liability

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-70

## Section

- **Citation:** S.C. Code Ann. § 39-73-70
- **Heading:** SECTION 39-73-70. Agency, vicarious, and joint and several liability
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 39 / Chapter 73 / Article 1 / Section 39-73-70

## Text

(A) The act, omission or failure of an official, an agent, or another person acting for an individual, an association, a partnership, a corporation, or a trust within the scope of his employment or office is deemed the act, omission or failure of the individual, association, partnership, corporation, or trust as well as of the official, agent, or other person. (B) Every person who directly or indirectly controls another person liable under this chapter, every partner, officer, or director of the other person, every person occupying a similar status or performing similar functions, every employee of the other person who materially aids in the violation also is liable jointly and severally with and to the same extent as the other person, unless the person who also is liable by virtue of this section sustains the burden of proof that he did not know and in exercise or reasonable care could not have known of the existence of the facts by reason of which the liability is alleged to exist.

## Nearby sections

- [S.C. Code Ann. § 39-73-10 SECTION 39-73-10. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-10.md)
- [S.C. Code Ann. § 39-73-20 SECTION 39-73-20. Commodity transactions under commodity contract or option restricted.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-20.md)
- [S.C. Code Ann. § 39-73-30 SECTION 39-73-30. Purchasers or sellers as to whom prohibition not applicable.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-30.md)
- [S.C. Code Ann. § 39-73-40 SECTION 39-73-40. Transactions as to which prohibition not applicable.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-40.md)
- [S.C. Code Ann. § 39-73-50 SECTION 39-73-50. Commodity merchant required to be registered, temporarily licensed, or exempt; board of trade must be designated.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-50.md)
- [S.C. Code Ann. § 39-73-60 SECTION 39-73-60. Prohibited acts.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-60.md)
- [S.C. Code Ann. § 39-73-70 SECTION 39-73-70. Agency, vicarious, and joint and several liability.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-70.md)
- [S.C. Code Ann. § 39-73-80 SECTION 39-73-80. Chapter not to impair other state securities laws.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-80.md)
- [S.C. Code Ann. § 39-73-90 SECTION 39-73-90. Construction and implementation of chapter; no private right of action created.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-90.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T39_C73_A1_S39-73-70. Check the current official text before relying on it. Not legal advice.