Legal Opinion
Majors v. South Carolina Securities Commission
Supreme Court of South Carolina
Decided April 23, 2007No. 26317PublishedCited by 4 opinions
1Opinion of the CourtJustice Waller
We certified this case from the Court of Appeals pursuant to Rule 204(b), SCACR. The South Carolina Securities Exchange Commission ordered Appellants, Ned Majors and Tax Lien Agents, Inc. (collectively TLA), to “Cease and Desist Selling Unregistered Securities and Engaging in Securities Fraud.” TLA appeals, contending it is not engaged in the sale of “securities.” We disagree and therefore affirm.
FACTUAL BACKGROUND
Ned Majors is President and sole shareholder of TLA, a South Carolina Corporation operating in Myrtle Beach since 1998. TLA’s business centers around the purchase of tax lien…
2Cases cited27 opinions
- Securities and Exchange Commission v. W. J. Howey Co.Supreme Court of the United States · 1946
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Fed. Sec. L. Rep. P 93,748 Securities and Exchange Commission v. Glenn W. Turner Enterprises, Inc.Court of Appeals for the Ninth Circuit · 1973
- I'On, L.L.C. v. Town of Mt. PleasantSupreme Court of South Carolina · 2000
- Teague v. BakkerCourt of Appeals for the Fourth Circuit · 1994
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3Cited by4 opinions
- Mathews v. Cassidy Turley Maryland, Inc.Court of Appeals of Maryland · 2013
- Brown v. South Carolina Department of Health & Human ServicesCourt of Appeals of South Carolina · 2011
- Forman v. South Carolina Department of Labor, Licensing & RegulationCourt of Appeals of South Carolina · 2016
- Randall Seels v. Joe SmallsSupreme Court of South Carolina · 2022