Sections 11-301, 11-302, 11-303, 11-304, 11-401, 11-501, and 11-703 of this title apply to any person who: Sells or offers to sell if: The offer to sell is made in this State; or The offer to buy is made and accepted in this State; or Offers or provides investment advisory services if: The contract for the investment advisory services is executed in this State; The investment advisory services are rendered in this State; or Any action instrumental in effecting prohibited conduct is taken in this State, whether or not either party is then present in this State. Sections 11-301, 11-302, 11-303, 11-304, 11-401, and 11-703 of this title apply to any person who: Buys or offers to buy if: The offer to buy is made in this State; or The offer to sell is made and accepted in this State; or Offers or provides investment advisory services if: The contract for the investment advisory services is executed in this State; The investment advisory services are rendered in this State; or Any action instrumental in effecting prohibited conduct is taken in this State, whether or not either party is then present in this State. For the purpose of this section, an offer to sell or to buy is made in this State, whether or not either party is then present in this State, if the offer: Originates from this State; or Is directed by the offeror to this State and received at the place to which it is directed or, in the case of a mailed offer, at any post office in this State. For the purpose of this section, an offer to buy or to sell is accepted in this State if acceptance: Is communicated to the offeror in this State; and Has not been communicated previously to the offeror, orally or in writing, outside this State. For purposes of this section, acceptance is communicated to the offeror in this State, whether or not either party is then present in this State, if the offeree directs it to the offeror in this State reasonably believing the offeror to be in this State and it is received at the place to which it is directed or, in the case of a mailed acceptance, at any post office in this State. An offer to sell or to buy, or to provide investment advisory services, is not made in this State if: The publisher circulates or there is circulated on his behalf in this State any bona fide newspaper or other publication of general, regular, and paid circulation which is not published in this State, or which is published in this State but has had more than two thirds of its circulation outside this State during the past 12 months; or A radio or television program originating outside this State is received in this State. Sections 11-302 and 11-401(b) of this title, as well as § 11-304 of this title so far as investment advisers and investment adviser representatives are concerned, apply if any act instrumental in effecting prohibited conduct is done in this State, whether or not either party is then present in this State.

Every issuer filing an application for registration under this title and every issuer filing an application for, request for, or notice of an exemption from registration under this title, or a notice under § 11-503.1 of this title shall file with the Commissioner, in the form which the Commissioner by rule prescribes, an irrevocable consent appointing the Commissioner or the Commissioner’s successor in office to be the issuer’s attorney to receive service of any lawful process in any noncriminal suit, action, or proceeding against the issuer or the issuer’s successor or personal representative which arises under this title or any rules or order under this title after the consent has been filed, with the same force and validity as if served personally on the person filing the consent. A person who has filed the consent in connection with a previous filing need not file another. Service may be made by leaving a copy of the process in the office of the Commissioner, but it is not effective unless: The plaintiff, who may be the Commissioner, in a suit, action, or proceeding instituted by him, immediately sends notice of the service and a copy of the process by certified mail, return receipt requested, bearing a postmark from the United States Postal Service, to the defendant or respondent at the defendant’s or respondent’s last address on file with the Commissioner; and The plaintiff’s affidavit of compliance with this section is filed in the case on or before the return day of the process, if any, or within any further time the court allows. If any person, including any nonresident of this State, engages in conduct prohibited or made actionable by this title or any rule or order under this title, and he has not filed a consent to service of process under subsection (a) of this section and personal jurisdiction over him cannot otherwise be obtained in this State, that conduct is equivalent to his appointment of the Commissioner or his successor in office to be his attorney to receive service of any lawful process in any noncriminal suit, action, or proceeding against him or his successor or personal representative which grows out of that conduct and which is brought under this title or any rule or order under this title, with the same force and validity as if served on him personally. Service may be made by leaving a copy of the process in the office of the Commissioner, but it is not effective unless: The plaintiff, who may be the Commissioner, in a suit, action, or proceeding instituted by him, immediately sends notice of the service and a copy of the process by certified mail, return receipt requested, bearing a postmark from the United States Postal Service, to the defendant or respondent at his last known address or takes other steps which are reasonably calculated to give actual notice; and The plaintiff’s affidavit of compliance with this section is filed in the case on or before the return day of the process, if any, or within any further time the court allows. When process is served under this section, the court or the Commissioner in a proceeding before him, shall order the continuance necessary to afford the defendant or respondent reasonable opportunity to defend.

This title shall be construed to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of this title with the related federal regulation.

This title may be cited as the Maryland Securities Act.