# 9 V.S.A. § 5204: Denial, suspension, revocation, condition, or limitations of exemptions

> Vermont · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5204

## Section

- **Citation:** 9 V.S.A. § 5204
- **Heading:** Denial, suspension, revocation, condition, or limitations of exemptions
- **Jurisdiction:** Vermont
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** VT Code / Title 9 / Chapter 150 / Section 5204

## 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 subdivision 5201(3)(C), (7), or (8) or section 5202 of this chapter or an exemption or waiver created under section 5203 of this chapter with respect to a specific security, transaction, or offer. An order under this section may be issued only pursuant to the procedures in subsection 5306(d) or section 5604 of this chapter and only prospectively.

(b) A person does not violate sections 5301, 5303 through 5306, 5504, or 5510 of this chapter by an offer to sell, an offer to purchase, a sale, or a 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

- [9 V.S.A. § 5101 § 5101. Short title](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5101.md)
- [9 V.S.A. § 5102 § 5102. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5102.md)
- [9 V.S.A. § 5103 § 5103. References to federal statutes](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5103.md)
- [9 V.S.A. § 5104 § 5104. References to federal agencies](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5104.md)
- [9 V.S.A. § 5105 § 5105. Electronic records and signatures](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5105.md)
- [9 V.S.A. § 5201 § 5201. Exempt securities](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5201.md)
- [9 V.S.A. § 5202 § 5202. Exempt transactions](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5202.md)
- [9 V.S.A. § 5203 § 5203. Additional exemptions and waivers](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5203.md)
- [9 V.S.A. § 5204 § 5204. Denial, suspension, revocation, condition, or limitations of exemptions](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5204.md)
- [9 V.S.A. § 5301 § 5301. Securities registration requirement](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5301.md)
- [9 V.S.A. § 5302 § 5302. Notice filing](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5302.md)
- [9 V.S.A. § 5303 § 5303. Securities registration by coordination](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5303.md)
- [9 V.S.A. § 5304 § 5304. Securities registration by qualification](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5304.md)
- [9 V.S.A. § 5305 § 5305. Securities registration filings](https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5305.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VT_T9_C150_S5204. Check the current official text before relying on it. Not legal advice.