§ 7-11-802 - Contract provisions. - Rhode Island Statutes

SECTION 7-11-802

   § 7-11-802  Contract provisions. – (a) No person subject to this chapter who makes or engages in the performanceof a contract in violation of this chapter or a rule or order of the directorunder this chapter, or who acquires a right under a contract with knowledge ofthe facts by which its making or performance is in violation, may obtain reliefon the contract.

   (b) A provision in a contract entered into or effective inthis state, binding a person acquiring a security to waive compliance with thischapter or a rule or order of the chapter under this chapter is nonenforceable.A provision in a contract containing an agreement to arbitrate or a choice oflaw provision in a contract between persons all of whom are engaged in thesecurities business is not a provision waiving compliance with this chapter andis enforceable in accordance with its terms.