§ 78D-27. General authority to adopt rules, forms, and orders. - North Carolina Statutes

§78D‑27.  General authority to adopt rules, forms, and orders.

(a)        In addition tospecific authority granted elsewhere in this Chapter, the Administrator maymake, amend, and rescind rules, forms, and orders as are necessary to carry outthe provisions of this Chapter.  Such rules or forms shall include, but neednot be limited to, the following:

(1)        Rules defining anyterms, whether or not used in this Chapter, insofar as the definitions are notinconsistent with the provisions of this Chapter.  For the purpose of rules orforms, the Administrator may classify commodities and commodity contracts,persons, and matters within the Administrator's jurisdiction.

(2)        Reserved.

(b)        Unless specificallyprovided in this Chapter, no rule, form, or order may be adopted, amended orrescinded unless the Administrator finds that the action is:

(1)        Necessary orappropriate in the public interest or for the protection of investors; and

(2)        Consistent with thepurposes fairly intended by the policy and provisions of this Chapter.

(c)        All rules and formsof the Administrator shall be published.

(d)        No provision ofthis Chapter imposing any liability applies to any act done or omitted in goodfaith in conformity with a rule, order, or form adopted by the Administrator,notwithstanding that the rule, order, or form may later be amended, orrescinded, or be determined by judicial or other authority to be invalid forany reason. (1989, c. 634, s. 1.)