massachusetts and montana filing against sec & regulation a+

8/20/2019 Massachusetts and Montana Filing Against SEC & Regulation A+

1/86

J^KB K^FPA@OW OJW T@W \LE@GPB@G

Ojs. ;0-;;74, ;0-;;09

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

DO WE@ PODW@G \WKW@\ LJP^W JH KYY@KB\

HJ^ WE@ GD\W^DLW JH LJBPANDK LD^LPDW ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Oj. ;0-;;74

Ajodlk C. Bdog`ò, Ajotkok \tkt` Kugdtjr, `x jhhdldjAjotkok Ljaadssdjo`r jh \`lurdtd`s kog Dosurkol`,

Y`tdtdjo`r,v.

Podt`g \tkt`s \`lurdtd`s kog @xlekof` Ljaadssdjo, ^`spjogòt .

Ljosjbdgkt`g wdte Oj. ;0-;;09

Vdbbdka H. Fkbvdo, \`lr`tkry jh te` Ljaajow`kbte jh Aksskleus`tts,Y`tdtdjo`r,

v.

Podt`g \tkt`s \`lurdtd`s kog @xlekof` Ljaadssdjo, ^`spjogòt .

Y`tdtdjos hjr ^`vd`w jh Hdokb ûb` jh te`

Podt`g \tkt`s \`lurdtd`s kog @xlekof` Ljaadssdjo


JY@ODOF N^D@H JH Y@WDWDJO@^\AJODLK C. BDOG@@O kog VDBBDKA H. FKBXDO


AKP^K E@KB@T Kttjro`y Fò`rkb jh Aksskleus`tts

^jn`rt @. Wjjo`, G.L. Ldr. Oj. 08;94\jjmyjuof \edoKssdstkot Kttjro`ys Fò`rkbJo` Ksenurtjo Ybkl`

Njstjo, AK 9>;95-;045(8;6) 6>6->>99^jn`rt.WjjoÌstkt`.ak.us

Ljuos`b hjr Vdbbdka H. Fkbvdo, \`lr`tkry

jh te` Ljaajow`kbte jh Aksskleus`tts

C`ss` Bksbjvdle Odlm Akzko`l\p`ldkb Kssdstkot Ajotkok Kttjro`ys

Fò`rkb579 E`bòk KvòuÈ`bòk, AW 0489;

(798) 777->979 cbksbjvdle>Iat.fjv

Ljuos`b hjr Ajodlk C. Bdog`ò, Ajotkok

\tkt` Kugdtjr, `x jhhdldj Ajotkok

Ljaadssdjo`r jh \`lurdtd`s kog Dosurkol`

!"#$ #&'( )*+,**+- ./9;>(


2/86

L@^WDHDLKW@ K\ WJ YK^WD@\, ^PBDOF\, KOG ^@BKW@G LK\@\

(K) Ykrtd`s kog Kadld

Y`tdtdjo`rs

Vdbbdka H. Fkbvdo, \`lr`tkry jh te` Ljaajow`kbte jh Aksskleus`tts

Ajodlk C. Bdog`ò, Ajotkok \tkt` Kugdtjr, `x jhhdldj Ajotkok


^`spjogòt

Podt`g \tkt`s \`lurdtd`s kog @xlekof` Ljaadssdjo

Kadld

Oktdjokb \akbb Nusdo`ss Podt`g, g/n/k/ Oktdjokb \akbb Nusdo`ss Kssjldktdjo

Ojrte Ka`rdlko \`lurdtd`s Kgadodstrktjrs Kssjldktdjo

(N) ûbdofs Pog`r ̂ `vd`w

We`s` p`tdtdjos lekbbòf` te` \`lur dtd`s kog @xlekof` Ljaadssdjo—s hdokb

rub`, Kaògaòts hjr \akbb kog Kggdtdjokb Dssu`s @xàptdjos Pog`r te` \`lurdtd`s

Klt (^`fubktdjo K), 59 H`g. ^`f. >;,598 (Kpr. >9, >9;0) (tj n` ljgdhd`g kt ;6

L.H.^. pkrts >99, >, >79, >74, & >89).

(L) ^`bkt`g Lks`s

We` lks`s uog`r r`vd`w ekv` o`v`r pr`vdjusby n`ò n`hjr` teds Ljurt.

Ljuos`b ds kwkr` jh oj r`bkt`g lks`s lurròtby pògdof do koy jte`r ljurt.

!"#$ #&'( )*+,**+- ./9;>(


3/86

dd

WKNB@ JH LJOW@OW\

L`rtdhdlkt` ks tj Ykrtd`s, ̂ ubdofs, kog ̂ `bkt`g Lks`s ................................................. d

Wknb` jh Kutejrdtd`s ................................................................................................... v

Fbjsskry................................................................................................................... xdv

Dotrjgultdjo ................................................................................................................ ;

\tktàòt jh Curdsgdltdjo ............................................................................................ >

\tktut`s kog ^`fubktdjos ............................................................................................ >

\tktàòt jh Dssu`s .....................................................................................................

@.

We` CJN\ Klt. ............................................................................................ ;7

H. We` Ljaadssdjo—s Yrjpjs`g ûb` Kaògdof ^`fubktdjo K. .................... ;8

F. We` Ljaadssdjo—s Kgjptdof ^`b`ks`. ........................................................ >9

\uaakry jh Krfuaòt ............................................................................................ >0

\tkogdof.................................................................................................................... >6

\tkogkrg jh ^`vd`w .................................................................................................. >5

Krfuaòt..................................................................................................................


4/86

ddd

D. WE@ LJAAD\\DJO—\ G@HDODWDJO JH ‒[PKBDHD@G YP^LEK\@^‑LJOHBDLW\ VDWE WE@ POKANDFPJP\BT @UY^@\\@G DOW@OWJH LJOF^@\\. .............................................................................................. . We` Ljaadssdjo—s uoqukbdhd`g g`hdodtdjo jh ‒qukbdhd`g purleks`r‑vdjbkt`s te` t`ra—s pbkdo a`kodof. ......................................................


5/86

dv

DDD. WE@ LJAAD\\DJO KGJYW@G WE@ ^PB@ NK\@G JO KHPOGKA@OWKBBT HBKV@G LJ\W-N@O@HDW KOKBT\D\ JH DW\DAYKLW JO DOX@\WJ^ Y^JW@LWDJO. .................................................... 8


6/86

v

WKNB@ JH KPWEJ^DWD@\*

Lks`s

* Ka. @qudty Dov. Bdh` Dos. Lj. v. \@L ,

8;< H.9;9) ................................................................. 87-88

Ka`rdlko H`g—o jh Fjv—t @apbjy``s, KHB-LDJ v. Fbdlmako,>;0 H.999) ........................................................................... 5->4, -77,

76, 0>, 00-05, 89-8;, 8<

Ldtdz`os tj Yr`s`rv` Jv`rtjo Ykrm, Dol. v. Xjbp`,79; P.\. 79> (;46;).................................................................................


7/86

vd

Ljaauodty hjr Lr`ktdv` Ojo-Xdjb`ol` v. ^`dg ,749 P.\. 674 (;44>) ...............................................

Ljvkg Ljaauos. Lj. v. HLL ,709 H.5 (G.L. Ldr. >998) ....................................................................... 9;7) ...............................................

HLL v. Hjx W`b`vdsdjo \tktdjos, Dol.,008 P.\. 09> (>994)................................................................................. 8;-8>

HGK v. Nrjwo & Vdbbdkasjo Wjnkllj Ljrp.,0>4 P.\. ;>9 (>999)........................................................................... 70, 76-75

Hdo. Ybkoodof Kss—o v. \@L , 75> H.996) ................................... 8>

Hjx v Lbdotjo, 857 H.9;>) ........................................................... 04

Fkbvdo v \[email protected]., Oj. ;0-;;09 ..................................................................................... 7

Fjbgst`do v. \@L , 70; H.998) ................................................... 08

Ekbb v. F`df`r-Cjo`s Lj.,>7> P.\. 08 H.9;9) ......................................................................... >5

Bdog``o v. \[email protected]., Oj. ;0-;;74 .................................................................................. 7

!"#$ #&'( )*+,**+- ./9;>(


8/86

vdd

Bjvdof v D^\ , 67> H.9;7) ...................................... 76-75, 08, 8;

Aksskleus`tts v. P.\. G`p—t jh Wrkosp.,4< H.4

ALD W`b`ljaa. Ljrp. v. KW&W Lj., 0;> P.\. >;5 (;447) ..................................... 7>

* A`gtrjodl, Dol. v. Bjer, 0;5 P.\. 769 (;448) ................................................. 4

Ajtjr X`edlb` Ahrs. Kss—o v. \tkt` Hkra Aut. Kutj Dos. Lj.,78< P.\. >4 (;454

O^GL v. @YK, 754 H.09 (G.L. Ldr. >996) ...................................................... 7<

* O.T. \tkt` Ljoh`r`ol` jh Nbu` Lrjss & Nbu` \ed`bg Ybkos v.Wrkv`b`rs Dos. Lj., 0;7 P.\. 870 (;440) ....................................................... 6 P.\. 05; (;444) ........................................... 9;>) ................................................... 9;;) ................................................


9/86

vddd

Yjw`r`x Ljrp. v. ^`bdkot @o`rfy \`rvs., Dol.,00; P.\. >>7 (>996)....................................................................................... 0>

*Yunbdl Ldtdz`o v. H`g. Ajtjr Lkrrd`r \kh`ty Kgado.,997) ......................................................... 980 (>9;>) ................................................................................... P.\.

*Vy`te v. B`vdo`, 000 P.\. 000 (>994) ...................................................................


10/86

dx

\tktut`s

*Yun. B. Oj. ;97->49, ;;9 \tkt. 7,

0;-0

Yun. B. Oj. ;98-;9>, ;;< \tkt. ;8 \tkt.

0 P.\.L. § 698(>)(K) ................................................................................................ >5

0 P.\.L. § 698(>)(L) ................................................................................................ >5

0 P.\.L. § 698(>)(G) ................................................................................................ >5

*\`lurdtd`s Klt jh ;4


11/86

x

;0 P.\.L. § 66g(k)(7) ................................................................................................. 4

;0 P.\.L. § 66d ........................................................................................................... >

;0 P.\.L. § 66r(k) ...................................................................................................... 4

;0 P.\.L. § 66r(n) ................................................................................................ 4, 70

;0 P.\.L. § 66r(n)(;) ............................................................................................... ;6

*;0 P.\.L. § 66r(n)(;,


12/86

xd

Akss. F`o. Bkws le. ;;9K(Akss. Podhjra \`lurdtd`s Klt) ................................................................. 8, >6

Akss. \t. ;50>, le. ;, le. ;44, §§ ;-;8 ................................................................................ 0

Klt jh Akr. ;74, >89(^`fubktdjo K-Ybus) ....................................................................................... >9

;6 L.H.^. § >0;(g)(>)(L) ............................................................................ >>, 79

;6 L.H.^. § >08 ................................................................................................. >;

;6 L.H.^. § >-;

;6 L.H.^. § >)(dd) ............................................................................. ;60.>90-


13/86

xdd

^`fubktdjo G ...................................................................................................... >6, 79

^`fubktdjo G, ûb` 09; ................................................................................ ;5, >9, >>

^`fubktdjo G, ûb` 09;(k) ........................................................................... ;>, 79, 8;

^`fubktdjo G, ûb` 098 .................................................................................. 4, ;>, 87

^`fubktdjo G, ûb` 098(l) ........................................................................... ;9, 79

H`g. ^. Kpp. Y. ;0(k) ................................................................................................. >

H`g. ^. @vdg. 69> ..................................................................................................... , >9;;) ............................................... ;8, 00

Kaògaòts hjr \akbb kog Kggdtdjokb Dssu`s @xàptdjos Pog`r te`

\`lurdtd`s Klt (^`fubktdjo K), 59 H`g. ^`f. >;,598

(Kprdb >9, >9;0) ................................................................>9->0,


14/86

xddd

*E.^. ^`p. Oj. ;97-8>> (;448), r`prdot`g do;448 P.\.L.L.K.O. 98 (>9;;) ......................................................................... ;0, 00

Yrjpjs`g ûb` Kaògaòts hjr \akbb kog Kggdtdjokb Dssu`s

@xàpt`g Pog`r \`ltdjo 9;7) ........................................... ;8-;6

^`skb` jh ^`strdlt`g \`lurdtd̀ s3 Lekof`s tj A`tejg jh G`t`radodof

Ejbgdof Y`rdjg jh ^`strdlt`g \`lurdtd`s Pog`r ûb`s ;77 kog

;70, 0< H`g. ̂ `f. 77,9;8 (prjpjs`g Ojv. ;, ;455) ...................................... 74

*\. ^`p. ;97->4< (;448) ........................................................................ ;;, 0;-0>, 07

\@L ^`b`ks` Oj. 99>) .................................................................. 0

V`nst`r—s DD O`w ̂ dv`rsdg` Podv`rsdty Gdltdjokry (;457) .....................................

!"#$ #&'( )*+,**+- ./9;>(


15/86

xdv

FBJ\\K^T

KYK Kgadodstrktdv` Yrjl`gur` Klt

FKJ P.\. Fjv`roaòt Klljuotkndbdty Jhhdl`

CJN\ Klt Cuapstkrt Jur Nusdo`ss \tkrtups Klt

OK\KK Ojrte Ka`rdlko \`lurdtd`s Kgadodstrktjrs Kssjldktdjo

O\ADK Oktdjokb \`lurdtd`s Akrm`ts Daprjvàòt Klt jh ;448

\@L P.\. \`lurdtd`s kog @xlekof` Ljaadssdjo

!"#$ #&'( )*+,**+- ./9;>(


16/86

;

DOW^JGPLWDJO

Y`tdtdjo`rs Vdbbdka H. Fkbvdo kog Ajodlk C. Bdog`ò, te` led`h s`lurdtd`s

r`fubktjrs hjr Aksskleus`tts kog Ajotkok, lekbbòf` te` bkwhubo`ss jh k o`w rub`

prjaubfkt`g ny te` Podt`g \tkt`s \`lurdtd`s kog @xlekof` Ljaadssdjo “

ljaajoby r`h`rr`g tj ks ‒^`fubktdjo K-Ybus‑ “ tekt puts vubo`rknb` dov`stjrs kt

uokll`ptknb` rdsm. Hjr l`rtkdo ^`fubktdjo K jhh̀ rdofs up tj $09 adbbdjo do sdz`,

wedle kr` `xàpt hrja h`g`rkb prjt`ltdjo, te` rub` b`kv`s dov`stjrs `xpjs`g tj te`

rdsm jh hrkug ny nrjkgby pr`àptdof stkt` s`lurdtd`s r`fdstrktdjo kog qukbdhdlktdjo

r`qudràòts. We` stkt`s, wedle ekv` r`vd`w`g s`lurdtd`s jhh`rdofs hkr bjof`r teko

te` h`g`rkb fjv`roaòt, kr` ojw nkrr`g hrja p`rhjradof teds `ssòtdkb rjb`, `vò

hjr jhh`rdofs tekt kr` sunstkotdkbby sjbg do bjlkb-kr`k akrm`ts.

Wekt ds ojt wekt Ljofr`ss dotòg`g, kog dt ds ojt wekt te` bkw prjvdg`s. We`

Ljaadssdjo—s kutejrdty tj pr`àpt stkt` s`lurdtd`s bkw ny rub` ds bdadt`g tj

s`lurdtd`s jhh`r`g kog sjbg tj ‒qukbdhd`g purleks`rs‑ “ k t`ra tekt pbkdoby r`h`rs tj

bdadt`g frjups jh dov`stjrs wdte suhhdldòt w`kbte, dolja`, kog sjpedstdlktdjo tj

prjt`lt teàs`bv`s do te` knsòl` jh stkt` r̀ fdstrktdjo kog qukbdhdlktdjo

r`qudràòts. Ny g`hdodof ‒qukbdhd`g purleks`r‑ tj a`ko ‒koy p`rsjo‑ tj weja

te`s` s`lurdtd`s kr` jhh`r`g jr sjbg, te` Ljaadssdjo gdsr`fkrg`g te` pbkdo a`kodof

!"#$ #&'( )*+,**+- ./9;>(


17/86

>

jh tekt t`ra, te` bkrf`r stktutjry hrka`wjrm, uskf` jh te` t`ra do jte`r h`g`rkb

s`lurdtd`s bkws kog r`fubktdjos, kog `xtòsdv` b`fdsbktdv` edstjry. We` Ljaadssdjo

hurte`r hkdb`g tj prjvdg` k r`ksjo`g `xpbkoktdjo hjr wey dt prjaubfkt`g k g`hdodtdjo

jh ‒qukbdhd`g purleks`r‑ tekt bklms koy qukbdhdlktdjos jo purleks`rs, jr wey dt

r`c`lt`g dts `krbd`r prjpjskb `quktdof te` t`ra wdte ‒kllr`gdt`g dov`stjrs.‑ Hdokbby,

te` Ljaadssdjo hkdb`g tj ljogult te` ljst-nò`hdt kokbysds r`qudr`g uog`r

kppbdlknb` bkw kog gdg ojt gdslbjs` k r`ksjo`g nksds hjr dts ljolbusdjo tekt

dov`stjrs wdbb n` kg`qukt`by prjt`lt`g uog`r te` o`w rub`. Hjr te`s` r`ksjos, teds

Ljurt sejubg vklkt` te` rub` kog òcjdo te` Ljaadssdjo hrja òhjrldof dt.

\WKW@A@OW JH CP^D\GDLWDJO

Weds lks` ds n`hjr` te` Ljurt jo p`tdtdjos tj r`vd`w k hdokb rub` jh te`

\`lurdtd`s kog @xlekof` Ljaadssdjo. Weds Ljurt eks curdsgdltdjo pursukot tj

ûb` ;0(k) jh te` H`g`rkb ûb`s jh Kpp`bbkt` Yrjl`gur`= \`ltdjo 4 jh te` \`lurdtd`s

Klt jh ;4


18/86

<

\WKW@A@OW JH D\\P@\

We` Ljaadssdjo—s rub` g`hdo`s ‒qukbdhd`g purleks`r‑ tj a`ko ‒koy p`rsjo

tj weja s`lurdtd`s kr` jhh`r`g jr sjbg‑ pursukot tj k Wd`r > jhh`rdof uog`r

^`fubktdjo K. We` dssu`s kr`3

;. Pog`r te` hdrst st`p do te` kokbysds uog`r Le`vrjo, P.\.K., Dol. v.

O^GL , 786 P.\. 5


19/86

7

\WKW@A@OW JH WE@ LK\@

Weds lks` ljol`ros k hdokb Ljaadssdjo rub` tekt wks punbdse`g do te`

H`g`rkb ^`fdst`r jo Kprdb >9, >9;0. 59 H`g. ̂ `f. >;,598. Y`tdtdjo`rs hdb`g te`dr

p`tdtdjos hjr r`vd`w do teds Ljurt jo Aky >>, >9;03 Bdog`ò v. \@L , Oj. ;0-;;74,

kog Fkbvdo v. \@L , Oj. ;0-;;09. Weds Ljurt ljosjbdgkt`g te` twj lks`s jo Aky

>6, >9;0. Jo Cuo` 0, >9;0, Y`tdtdjo`r Bdog`ò ksm`g te` Ljaadssdjo tj stky te`

rub` pògdof hdokb r`sjbutdjo jh te`s` p`tdtdjos. We` Ljaadssdjo gòd`g Bdog`ò—s

r`qu`st jo Cuo` ;8, >9;0. We` rub` n`lka` ̀ hh`ltdv` jo Cuo` >4, >9;0.

We` hdokb rub` kaògs te` Ljaadssdjo—s ^`fubktdjo K, wedle sdol` ;4


20/86

0

\WKW@A@OW JH HKLW\

!" $%&%' $'()*+%+', -'.)/&%+9;"

We` stkt`s ekv` òfkf`g do s`lurdtd`s r`fubktdjo hkr bjof`r teko te` h`g`rkb

fjv`roaòt. K Aksskleus`tts bkw pkss`g do ;50>, hjr `xkapb`, r`qudr`g rkdbrjkg

ljapkod`s lekrt`r`g do te` Ljaajow`kbte tj hdb` l`rtdhdlkt`s ‒stktdof tekt kbb jh

te` stjlm oka`g do te` lekrt`r eks n`ò sunslrdn`g hjr ny r`spjosdnb` pkrtd`s, kog

tekt twòty ]p`rlòtQ jh te` pkr vkbu` jh `kle kog `v`ry sekr` jh te` stjlm te`r`jh

eks n`ò kltukbby pkdg dotj te` tr`ksury jh te` ljapkoy.‑ Nrkogjo H. Vedt` &

Kogr`w C. Ykbdg, We` ^ds` jh te` Aksskleus`tts Podhjra \`lurdtd`s Klt , 47 Akss.

B. ^`v. ;;6, ;;5 (>9; Akss. Klts ). Ljaprèòsdv` r`fubktdjo jh s`lurdtd`s n`fko wdte te` Mkosks

‒Nbu` \my‑ Bkws jh ;4;;. Ajst stkt`s pkss`g te`dr jwo s`lurdtd`s bkws sejrtby

kht`r, dolbugdof Ajotkok do ;4;< kog Aksskleus`tts do ;4>;. Klt jh Akr. ;


21/86

8

(;4;6). We` stktut`s typdlkbby r`qudr`g s`lurdtd`s kog s`lurdtd`s skb`sp`rsjos tj n`

r`fdst`r`g wdte te` stkt`, kog kbbjw`g stkt`s tj prjedndt te` skb` jh s`lurdtd`s tekt

w`r` ojt ‒hkdr, cust, jr `qudtknb`.‑ \``, `.f., ;4. \`` \`lurdtd`s

Klt jh Ajotkok, Ajot. Ljg` Koo. §§ "


22/86

6

akrm`t. Dt `oklt`g te` \`lurdtd`s @xlekof` Klt jh ;4


23/86

5

dodtdkb kooukb jhh`rdof bdadt jh $;99,999 wks rkds`g tj $. Potdb te` Ljaadssdjo

prjaubfkt`g te` rub` kt dssu` do teds lks`, ^`fubktdjo K jhh`rdofs w`r` f`o`rkbby

sunc`lt tj stkt` r`vd`w.

8"


24/86

4

Wj tekt òg, O\ADK prjedndt`g stkt`s hrja r`qudrdof te` r`fdstrktdjo jr

qukbdhdlktdjo jh ‒ljv`r`g s`lurdtd`s.‑ ;0 P.\.L. § 66r(k). Ks kaòg`g ny O\ADK,

\`ltdjo ;5(n) jh te` \`lurdtd`s Klt bdsts s`v`rkb lbkss`s jh ‒ljv`r`g s`lurdtd`s‑3

s`lurdtd`s bdst`g jo te` O`w Tjrm \tjlm @xlekof`, Ka`rdlko \tjlm@xlekof`, jr Oksgkq Oktdjokb Akrm`t \ystà=

s`lurdtd`s dssu`g ny ko dov`staòt ljapkoy r`fdst`r`g uog`r te`Dov`staòt Ljapkoy Klt jh ;479, ;0 P.\.L. § 59k-; `t s`q.=

ajst `xàpt s`lurdtd`s bdst`g do \`ltdjo


25/86

;9

Ljaadssdjo aky g`hdo` te` t`ra ―qukbdhd`g purleks`r— gdhh`ròtby wdte r`sp`lt tj

gdhh`ròt lkt`fjrd`s jh s`lurdtd`s, ljosdstòt wdte te` punbdl dot`r`st kog te`

prjt`ltdjo jh dov`stjrs.‑ Dg. § 66r(n)(


26/86

;;

purleks`rs‑ gj ojt r`qudr` te` prjt`ltdjos jh r`fdstrktdjo. We` ndbblr`kt`s k uodhjra stkogkrg kajof te` stkt`s hjr te` ‒qukbdhd`g purleks`r‑ `xàptdjo.

Hjr njte te` ‒nbu` ledp‑ stjlm kog ‒qukbdhd`g purleks`r‑

r`fdstrktdjos, te` b`fdsbktdjo gj`s ojt lr`kt` k o`w lkt`fjry jh `xàptjhh`rdofs. Dost`kg, \. ;5;0 akm`s uodhjra `xdstdof pr`àptdjos nykgjptdof k sdofb` stkogkrg.

\. ^`p. ;97->4>, kt


27/86

;>

Dov`staòt Ljapkoy Klt ̀ xàptdjos. \`` ;0 P.\.L. 59k “ >(k)(0;) (g`hdodof

‒qukbdhd`g purleks`r‑ tj dolbug` p`rsjos kog hkadby ljapkod`s wdte kt b`kst $0

adbbdjo do dov`staòts, ljapkod`s tekt jwo kog dov`st kt b`kst $>0 adbbdjo do

dov`staòts, kog trusts wdte trust``s jr s`ttbjrs wej kr` qukbdhd`g purleks`rs uog`r

teds g`hdodtdjo).

?" We` Ljaadssdjo—s :*929,'0 ?'I+;+%+9; 9I ‒[ukbdhd`g Yurleks`r‑

K;0'* 6$53!"

Do >99;, te` Ljaadssdjo prjpjs`g tj g`hdo` ‒qukbdhd`g purleks`r‑ uog`r

\`ltdjo ;5(n), ks ajgdhd`g ny O\ADK. Dts prjpjs`g rub`, wedle wks o`v`r

hdokbdz`g, g`hdo`g ‒qukbdhd`g purleks`r‑ hjr purpjs`s jh te` \`lurdtd`s Klt tj a`ko

ko ‒kllr`gdt`g dov`stjr‑ ks g`hdo`g do ûb` 09;(k) jh ^`fubktdjo G, ;6 L.H.^.

§ >


28/86

;<

kss`ts= okturkb p`rsjos wejs` lurròt kog bdm`by hutur` kooukb dolja` `xl``gs

$>99,999 (jr wejs` cjdot dolja` wdte k spjus` `xl``gs $)(dd).

Do `xpbkdodof do >99; wey te` ska` g`hdodtdjo sejubg n` us`g hjr ‒qukbdhd`g

purleks`r,‑ te` Ljaadssdjo jns`rv`g tekt dt ekg g`v`bjp`g dts kpprjkle jo

‒kllr`gdt`g dov`stjr s‑ hjbbjwdof te` \uprà` Ljurt—s ejbgdof tekt te` kppbdlktdjo

jh k gdhh`ròt h`g`rkb r`fdstrktdjo ̀ xàptdjo hjr ojo-punbdl jhh`rdofs (\`ltdjo

7(k)(>) jh te` \`lurdtd`s Klt) ‒g`pòg`g jo we`te`r te` jhh`r``s w`r` knb` tj hòg

hjr teàs`bv`s kog ekg kll`ss tj te` ska` mdog jh dohjraktdjo tekt wjubg n`

gdslbjs`g do r`fdstrktdjo.‑ 88 H`g. ̂ `f. kt 88,579 (gdslussdof \@L v. ^kbstjo

Yurdok Lj.,


29/86

;7

s`lurdtd`s bkws.‑ Dg. kt 88,57;. Podhydof te` ska` g`hdodtdjo “ d.`., hjr njte

‒qukbdhd`g purleks`rs‑ uog`r \`ltdjo ;5 kog ‒kllr`gdt`g dov`stjrs‑ uog`r \`ltdjo 7

“ wks kpprjprdkt` ojt joby n`lkus` dt wjubg ‒sdapbdh]yQ te` r`fubktjry strultur` hjr

dssu`rs kog . . . hkldbdtkt` te` lkpdtkb hjraktdjo prjl`ss,‑ nut kbsj n`lkus` ‒te`

r`fubktjry kog b`fdsbktdv` edstjry jh njte t`ras kr` nks`g upjo sdadbkr ojtdjos jh

te` hdokoldkb sjpedstdlktdjo jh dov`stjrs.‑ Dg. kt 88,579.

N" (


30/86

;0

s`lurdtd`s `xàpt hrja h`g`rkb r`fdstrktdjo r`qudràòts uog`r te` o`w \`ltdjo

) kr` kbsj ‒ljv`r`g s`lurdtd`s‑ ̀ xàpt hrja stkt` r`fdstrktdjo kog

qukbdhdlktdjo r`qudràòts uog`r \`ltdjo ;5(n). Wj qukbdhy ks ‒ljv`r`g s`lurdtd`s‑

hjr teds purpjs`, te` s`lurdtd`s aust n` `dte`r

(d) jhh`r`g jr sjbg jo k oktdjokb s`lurdtd`s `xlekof`, jr

(dd) jhh`r`g jr sjbg tj k qukbdhd`g purleks`r, ks g`hdo`g ny te`Ljaadssdjo pursukot tj ]\`ltdjo ;5(n)(99;.

Wdtb` DX jh te` CJN\ Klt kgjpt`g te` t`xt jh E.^. ;969, te` \akbb Ljapkoy

Lkpdtkb Hjraktdjo Klt jh >9;;, wedle te` Ejus` jh ^`pr`sòtktdv`s pkss`g jo

Ojvàn`r >, >9;;. We` v`rsdjo jh te` ndbb dodtdkbby kpprjv`g ny te` Ejus`

Ljaadtt`` jo Hdokoldkb \`rvdl`s dolbug`g bkofukf` tekt dolbug`g ks ‒ljv`r`g

s`lurdtd`s‑ ojt joby s`lurdtd`s jhh`r`g jr sjbg jo k oktdjokb s`lurdtd`s `xlekof` jr

tj ‒qukbdhd`g purleks`r s,‑ nut kbsj s`lurdtd`s ‒jhh`r`g jr sjbg terjufe k nrjm`r jr

g`kb`r .‑ \`` E.^. ^`p. Oj. ;;>->98, > (>9;;). Aàn`rs jh te` ljaadtt``

!"#$ #&'( )*+,**+- ./9;>(


31/86

;8

`xpr`ss`g ljol`ro knjut teds prjvdsdjo, stktdof, ‒^`fubktdjo K s`lurdtd`s kr`

sja`tda`s edfe-rdsm jhh`rdofs tekt aky n` susl`ptdnb` tj hrkug, akmdof te`

prjt`ltdjos prjvdg`g ny stkt` r`vd`w ̀ ssòtdkb.‑ Dg. kt ;< (adojrdty vd`ws). Veò

te` ndbb wks nrjufet tj te` hbjjr hjr k hdokb vjt`, k ndpkrtdsko ljaprjads`

`bdadokt`g te` ̀ xàptdjo hjr s`lurdtd`s ‒jhh`r`g jr sjbg terjufe k nrjm`r jr

g`kb`r.‑ K spjosjr `xpbkdo`g tekt Ljofr`ss gdg ojt dot̀ og tj nrjkgby pr`àpt

sakbb s`lurdtd`s jhh`rdofs hrja stkt` r`fubktdjo, sdol` ‒^`fubktdjo K s`lurdtd`s lko

n` edfe-rdsm jhh r̀dofs tekt aky kbsj n` susl`ptdnb` tj hrkug, akmdof prjt`ltdjos

prjvdg`g ny te` \tkt` r`fubktjrs ko s̀sòtdkb ]h`ktur`Q.‑ ;06 Ljof. ^`l. E6>, >9;;) (stktàòt jh ^`p. Fkry Y`t`rs).

@" (


32/86

;6

FKJ r`pjrt (lkbb`g hjr uog`r \`ltdjo 79> jh te` CJN\ Klt) tekt dogdlkt`g tekt stkt`

s`lurdtd`s bkws w`r` jo` kajof akoy hkltjrs tekt ‒aky ekv` ljotrdnut`g tj te`

bklm jh us` jh ^`fubktdjo K.‑ \`` 64 H`g. ^`f. kt


33/86

;5

Ks hjr pr`àptdjo hjr ‒qukbdhd`g purleks`rs,‑ te` Ljaadssdjo r`vd`w`g

s`v`rkb suff`st`g g`hdodtdjos jh tekt t`ra, dolbugdof ‒]kQoy purleks`r do k

^`fubktdjo K jhh`rdof‑= ‒]kQoy purleks`r a``tdof k sp`ldhd`g o`t wjrte stkogkrg,

s`t kt jr bjw`r teko te` lurròt ―kllr`gdt`g dov`stjr— g`hdodtdjo do ûb` 09; jh

^`fubktdjo G‑= ‒]kQoy g`hdodtdjo a``tdof k o`t wjrte jr dolja` t`st nks`g jo

ter`sejbgs n`bjw kllr`gdt`g dov`stjr ter`sejbgs ljando`g wdte ko dov`staòt lkp‑=

kog ‒]kQoy purleks`r wej purleks`g terjufe k r`fdst`r`g nrjm`r -g`kb`r.‑ Dg. kt

jhh`rdof.

!"#$ #&'( )*+,**+- ./9;>(


34/86

;4

Dg. ‒Wd`r >‑ r`h`rs tj te` s`ljog jh twj td`rs jh ^`fubktdjo K jhh`rdofs prjpjs`g

ny te` Ljaadssdjo3 Wd`r ; hjr jhh`rdofs jh up tj $0 adbbdjo kog Wd`r > hjr

jhh`rdofs jh up tj $09 adbbdjo, `kle do k ;>-ajote p`rdjg. Dg. kt 6. Wd`r >

jhh`rdofs wjubg n` sunc`lt tj ajr` `xtòsdv` gdslbjsur` kog r`pjrtdof

r`qudràòts, dolbugdof kugdt`g hdokoldkb stktàòts.

Pog`r teds g`hdodtdjo jh ‒qukbdhd`g purleks`rs,‑ te` prjpjs`g rub` wjubg

ekv` pr`àpt`g stkt` r`fdstrktdjo kog qukbdhdlktdjo r`qudràòts wdte r`sp`lt tj (d)

koyjo` wej r`l`dv`g k ^`fubktdjo K jhh`rdof (`dte`r Wd`r ; jr Wd`r >) kog (dd)

koyjo` wej purleks`g s`lurdtd`s do k Wd`r > jhh`rdof. \tkt`s wjubg ekv` r̀ tkdo`g

joby te`dr kutejrdty tj r`qudr` te` hdbdof jh koy gjluaòt hdb`g wdte te`

Ljaadssdjo kog te` pkyaòt jh hdbdof h``s, kog tj dov`stdfkt` kog nrdof

òhjrlàòt kltdjos kht`r te` hklt r`fkrgdof hrkugubòt s`lurdtd`s trkoskltdjos kog

uobkwhub ljogult ny nrjm`r-g`kb`rs do sule jhh`rdofs. We` Ljaadssdjo gdg ojt

`xpbkdo ejw dts prjpjs`g g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ ljohjra`g tj te` t`xt

kog b`fdsbktdv` dotòt uog`rbydof \`ltdjos ;5(n)( jhh`rdof ‒tj oj ajr` teko ;9% jh te` fr̀ kt`r

!"#$ #&'( )*+,**+- ./9;>(


35/86

>9

jh te`dr kooukb dolja` kog te`dr o`t wjrte.‑ Dg. kt 9;0, kog punbdse`g

te` kaògaòts te` hjbbjwdof ajote. \`` Kaògaòts hjr \akbb kog Kggdtdjokb

Dssu`s @xàptdjos Pog`r te` \`lurdtd`s Klt (^`fubktdjo K), 59 H`g. ^`f. >;,598

(Kpr. >9, >9;0) (tj n` ljgdhd`g kt ;6 L.H.^. pkrts >99, >, >79, >74, &

>89) (‒Kgjptdof ̂ `b`ks`‑)= s`` kbsj dg. kt >;,506-05 (suaakrdzdof ljaaòts).

Vedb` te` hdokb rub` ajgdhd`g sja` ksp`lts jh te` `krbd`r prjpjskb, dt ljotdou`g tj

pr`àpt stkt`-bkw r̀ fdstrktdjo kog qukbdhdlktdjo r`qudràòts nks`g jo k g`hdodtdjo

jh ‒qukbdhd`g purleks`r ‑ uobdadt`g ny koy qukbdhydof hkltjrs sule ks w`kbte,

dolja`, jr sjpedstdlktdjo. \`` dg. kt >;,505 (‒]VQ` kr` kgjptdof te` ‒qukbdhd`g

purleks`r‑ g`hdodtdjo do ^`fubktdjo K, sunstkotdkbby ks prjpjs`g.‑). We`

Ljaadssdjo kbsj `bdadokt`g k bjw`r-ljst gdslbjsur` hjrakt hjr Hjra ;-K hdbdofs,

!"#$ #&'( )*+,**+- ./9;>(


36/86

>;

lkbb`g ‒Ajg`b K,‑ s`` dg. kt >;,5>5->4= kog w`kmò`g skh`fukrgs hjr sjbdldtktdjos

jh dot`r`st, lkbb`g ‒t`stdof te` wkt`rs‑ akt`rdkbs, ny kbbjwdof dssu`rs tj us` teà

n`hjr` te` jhh`rdof stktàòt ds hdb`g, s`` dg. kt >;,57>.

Do te` hdokb rub` te` Ljaadssdjo lekof`g dts twj-td`r strultur` hjr

^`fubktdjo K ny dolr`ksdof te` kooukb jhh`rdof bdadtktdjo hjr Wd`r ; jhh`rdofs hrja

$0 adbbdjo tj $>9 adbbdjo. 59 H`g. ^`f. kt >;,5; jhh`rdofs, kbtejufe dt ojt`g tekt dt aky ljosdg`r dolr`ksdof tekt

bdadtktdjo do hutur` y`krs. Dg. We` Ljaadssdjo teò g`hdo`g ‒qukbdhd`g purleks`r‑

ks hjbbjws3

Hjr purpjs`s jh \`ltdjo ;5(n)(;,544 (tj n` ljgdhd`g kt ;6 L.H.^. § >08). Weus, te` hdokb

g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ gj`s ojt dolbug` jhh`r``s do Wd`r ; jhh`rdofs,

kog stkt`s ‒r`tkdo jv`rsdfet jv`r ejw te`s` jhh`rdofs kr` ljogult`g.‑ Dg. kt >;,505.

Ny ljotrkst, stkt` bkw s`lurdtd`s r`qudràòts kr` pr`àpt`g wdte r`sp`lt tj kbb Wd`r

> jhh`rdofs “ jhh`rdofs do koy kajuot up tj $09 adbbdjo “ ks w`bb ks tj kbb Wd`r >

purleks`s.

!"#$ #&'( )*+,**+- ./9;>(


37/86

>>

We` Ljaadssdjo kbsj akdotkdo`g dts prjpjs`g bdadtktdjo jo te` kajuot jh

s`lurdtd`s tekt dov`stjrs lko purleks` do k Wd`r > jhh`rdof. \`` dg. kt >;,5;0-;5.

Weds bdadtktdjo prjvdg`s tekt purleks`rs do k Wd`r > jhh`rdof aky dov`st oj ajr`

teko ;9 p`rlòt jh te` fr`kt`r jh te`dr kooukb dolja` jr te`dr o`t wjrte. Dg. kt

>;,5;0, >;,540-48 (tj n` ljgdhd`g kt ;6 L.H.^. § >0;(g)(>)(L)). We`

Ljaadssdjo lbkrdhd`g do dts hdokb rub` tekt teds dov`staòt bdadtktdjo gj`s ojt kppby

tj purleks`rs wej qukbdhy ks ‒kllr`gdt`g dov`stjrs‑ uog`r ûb` 09; jh ^`fubktdjo

G, n`lkus` ‒dov`stjrs tekt qukbdhy ks kllr`gdt`g uog`r jur rub`s sktdshy l`rtkdo

lrdt`rdk tekt suff`st te`y kr` lkpknb` jh prjt`ltdof teàs`bv`s do trkoskltdjos tekt

kr` `xàpt hrja r`fdstrktdjo uog`r te` \`lurdtd`s Klt.‑ Dg. kt >;,5;8. Ks hjr jte`r,

ojo-kllr`gdt`g dov`stjrs, te` Ljaadssdjo ljotdou`g tj kbbjw dssu`rs uog`r

^`fubktdjo K tj r`by jo r`pr`sòtktdjos jh ljapbdkol` wdte teds bdadtktdjo akg` ny

te` dov`stjrs teàs`bv`s. Dg. kt >;,5;0. Dt wks uoo`l`sskry kog jv`rby

nurgòsja ,̀ do te` Ljaadssdjo—s vd`w, tj r`qudr` dssu`rs ‒tj tkm` r`ksjoknb` st`ps

tj v`rdhy . . . dov`stjrs— ljapbdkol` wdte te` dov`staòt bdadtktdjo‑= gjdof sj adfet

‒gdssukg]`Q dssu`rs hrja s`bbdof tj ojo-kllr`gdt`g dov`stjrs do Wd`r > jhh`rdofs ny

dolr`ksdof ljapbdkol` uol`rtkdotd`s kog jnbdfktdjos.‑ Dg. kt >;,5;6.

!"#$ #&'( )*+,**+- ./9;>(


38/86

><

Do g`hògdof dts g`ldsdjo tj nrjkgby pr`àpt stkt` s`lurdtd`s bkw ks tj Wd`r >

jhh`rdofs, te` Ljaadssdjo stkt`g tekt \`lurdtd`s Klt \`ltdjo ;5(n)(;,504. Dt r`ksjo`g tekt

pr`àptdjo khhjrg`g uog`r \`ltdjo ;5(n)(7)(G) wjubg ‒o`l`sskrdby ̀ oljapkss]Q‑

te` jte`r stktutjry r`qudràòts hjr ljogultdof ko `xàpt jhh`rdof uog`r \`ltdjo

) (sule ks te` hdbdof jh kooukb kugdt`g hdokoldkb stktàòts kog ‒nkg kltjr‑

gdsqukbdhdlktdjo), kog ‒te` pkrtdlubkr lekrklt`rdstdls jh trkoskltdjos ̀ xàpt hrja

r`fdstrktdjo pursukot tj \`ltdjo )‑ (sule ks te` ‒sp`ldhd`g dov`staòt

bdadtktdjos‑ gdsluss`g knjv`) wjubg kppby. Dg. We` Ljaadssdjo kbsj ojt`g tekt

\`ltdjo ;5(n)(;,504-89.

Hjr te`s` r`ksjos, dt r`c`lt`g te` krfuaòt jh sja` ljaaòt`rs tekt ‒k ―qukbdhd`g

purleks`r— g`hdodtdjo kgjpt`g ny te` Ljaadssdjo aust kt k adodaua n` nks`g jo

!"#$ #&'( )*+,**+- ./9;>(


39/86

>7

kttrdnut`s jh te` purleks`r, sule ks k p`rsjo—s w`kbte, dolja`, jr sjpedstdlktdjo.‑

Dg. kt >;,504.

We` Ljaadssdjo klmojwb`gf`g tekt dts `krbd`r prjpjs`g g`hdodtdjo “ te`

>99; Yrjpjsdof ^`b`ks` “ ‒ojt`g tekt l`rtkdo ksp`lts jh O\ADK—s b`fdsbktdv`

edstjry suff`st tekt k qukbdhd`g purleks`r g`hdodtdjo sejubg dolbug` dov`stjrs tekt

kr` sjpedstdlkt`g kog lkpknb` jh prjt`ltdof teàs`bv s̀‑ kog, klljrgdofby, sjufet tj

`qukt` ‒qukbdhd`g purleks`r‑ wdte te` `xdstdof g`hdodtdjo jh ‒kllr`gdt`g dov`stjr.‑

Dg. Wekt `krbd`r g`hdodtdjo jh ‒qukbdhd`g purleks`r,‑ te` Ljaadssdjo stkt`g, gdg ojt

ljohbdlt wdte dts o`w rub` n`lkus` ‒te` g`hdodtdjo n`dof kgjpt`g tjgky s`rv`s k

gdhh`ròt purpjs` n`lkus` dt kppbd`s joby do ̂ `fubktdjo K jhh`rdofs.‑ Dg. kt >;,504-

89.

We` Ljaadssdjo prjvdg`g k nrd`h kokbysds jh te` ljsts kog nò`hdts tj

dov`stjr prjt`ltdjo jh ‒nbu` smy‑ pr`àptdjo hjr Wd`r > jhh`rdofs. Dt hdrst dgòtdhd`g

te` p`rl`dv`g ljsts jh pr`àptdjo, dolbugdof te` bjss jh k s`ljog bky`r jh

r`fubktjry r`vd`w= `bdadoktdjo jh stkt` a`rdt-nks`g r`vd`ws= te` bjss jh te`

‒bjlkbdz`g mojwb`gf` kog r`sjurl`s‑ stkt` r`fubktjrs prjvdg` do hkldbdtktdof

ljapbdkol` kog g`t`ltdof hrkug, pkrtdlubkrby kajof ‒sakbb, bjlkbdz`g dssu`rs‑= kog

pjssdnb` dov`stjr p`rl`ptdjos jh dolr`ks`g rdsm jh hrkug r`subtdof do k gàkog jh

!"#$ #&'( )*+,**+- ./9;>(


40/86

>0

edfe`r r`turos. Dg. kt >;,558. We` Ljaadssdjo jhh`r`g k jo`-pkrkfrkpe r`spjos`

tj te`s` ljol`ros, kss`rtdof tekt te` stkt`s— ràkdodof r`fubktjry kutejrdty kog te`

o`w rub` prjvdsdjos ‒ljubg adtdfkt` ]te`Q pjtòtdkb dapklts‑ jh stkt` pr`àptdjo.

Dg. kt >;,556. We` Ljaadssdjo gdg ojt `xpbkdo ejw te`s` prjvdsdjos r`bkt`g tj jr

ka`bdjrkt`g te` dgòtdhd`g dov`stjr prjt`ltdjo ljol`ros. \`` dg . Kog wedb` te`

Ljaadssdjo prjvdg`g ko ̀ ljojadl kokbysds jh ljaaòt`rs— prjpjs`g ljjrgdokt`g

r`vd`w prjl`ss, dt gdg ojt kokbyz` te` ljsts kog nò`hdts tj dov`stjr prjt`ltdjo jh

tekt prjpjskb. \`` dg . kt >;,556-55.

\PAAK^T JH K^FPA@OW

We` Ljaadssdjo—s rub` pr`àptdof stkt` s`lurdtd`s bkws terjufe k g`hdodtdjo

jh ‒qukbdhd`g purleks`r‑ tekt a`kos ‒koy p`rsjo tj weja s`lurdtd`s kr` jhh`r`g jr

sjbg pursukot tj k Wd`r > jhh`rdof jh teds ^`fubktdjo K‑ ds ljotrkry tj bkw kog

sejubg n` strulm gjwo uog`r Le`vrjo st`p jo`. Ljofr`ss lb`krby dotòg`g te`

sljp` jh pr`àptdjo uog`r \`ltdjo ;5(n)(


41/86

>8

ekv` `bs`we`r` uodhjraby us`g te` t`ra tj a`ko k bdadt`g frjup jh dov`stjrs wdte

te` we`r`wdtekb kog `xp`rdòl` tj kssua` fr`kt`r rdsm. We` Ljaadssdjo—s o`w

rub` ljohbdlts wdte te` stktutjry hrka`wjrm uog`rbydof njte prjvdsdjos, ròg`rs te`

‒qukbdhd`g purleks`r‑ r`qudràòt surpbuskf`, kog uog`rado`s \`ltdjo ;5(n)(


42/86

>6

g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ tekt dt hdrst prjpjs`g do >99; “ k g`hdodtdjo tekt

`qukt`g te` t`ra wdte ‒kllr`gdt`g dov`stjr‑ uog`r ^`fubktdjo G kog klmojwb`gf`g

tekt ‒sdadbkr ojtdjos jh hdokoldkb sjpedstdlktdjo‑ uog`rbd` njte t`ras.

Hdokbby, te` rub` sejubg n` vklkt`g ks krndtrkry kog lkprdldjus n`lkus` te`

Ljaadssdjo hkdb`g tj kg`qukt`by kokbyz` te` rub`—s `hh`lts jo dov`stjr prjt`ltdjo

kog te` punbdl dot`r`st. We` Ljaadssdjo hkdb`g tj fdv` gu` ljosdg`rktdjo tj

dov`stjr prjt`ltdjo do dts ljst-nò`hdt kokbysds jh stkt`-bkw pr`àptdjo hjr Wd`r >

jhh`rdofs uog`r ^`fubktdjo K kog jte`r ksp`lts jh te` rub`. Dt klmojwb`gf`g tekt

pr`àptdjo do teds kr`k wdbb r`subt do te` bjss jh stkt` r`fubktjrs— sup`rdjr

mojwb`gf` jh bjlkb dssu`rs kog jte`r nò`hdts jh stkt`-nks`g r`vd`ws, nut dt

prjvdg`g oj `vdgòl` jr rktdjokb` hjr dts lbkda tekt jte`r prjvdsdjos jh te` rub` kog

stkt`s— r`tkdo`g r`fubktjry kutejrdty ‒ljubg adtdfkt`‑ te`s` dapklts.

\WKOGDOF

Y`tdtdjo`r Fkbvdo ds te` led`h s`lurdtd`s r`fubktjr hjr Aksskleus`tts. We`

Jhhdl` jh te` \`lr`tkry jh te` Ljaajow`kbte kgadodst`rs kog òhjrl`s te`

Aksskleus`tts Podhjra \`lurdtd`s Klt, Akss. Fò. Bkws le. ;;9K, tejufe te`

Aksskleus`tts \`lurdtd`s Gdvdsdjo. Y`tdtdjo`r Bdog`ò, ks te` Ajotkok \tkt`

Kugdtjr, ds `x jhhdldj Ljaadssdjo`r jh \`lurdtd`s hjr te` \tkt` jh Ajotkok kog

!"#$ #&'( )*+,**+- ./9;>(


43/86

>5

òhjrl`s te` \`lurdtd`s Klt jh Ajotkok, te` prdakry purpjs` jh wedle ds tj ‒prjt`lt

te` dov`stjr, p`rsjos òfkf`g do s`lurdtd`s trkoskltdjos, kog te` punbdl dot`r`st.‑

Ajot. Ljg` Koo. §§ (;). Y`tdtdjo`rs ekv` kutejrdty uog`r te`dr

r`sp`ltdv` stkt` bkws tj ljogult a`rdt-nks`g r`vd`w jh ^`fubktdjo K hdbdofs tj

prjt`lt dov`stjrs do te`dr stkt`s. We` Ljaadssdjo—s rub` pr`àpts tekt kutejrdty.

\WKOGK^G JH ̂ @XD@V

Pog`r te` KYK, k r`vd`wdof ljurt aust strdm` gjwo r`fubktdjos tekt kr`

‒krndtrkry, lkprdldjus, ko knus` jh gdslr`tdjo, jr jte`rwds` ojt do klljrgkol` wdte

bkw‑= ‒do ̀ xl`ss jh stktutjry curdsgdltdjo, kutejrdty, jr bdadtktdjos, jr sejrt jh

stktutjry rdfet‑= jr dssu`g ‒wdtejut jns`rvkol` jh prjl`gur` r`qudr`g ny bkw.‑ 0

P.\.L. § 698(>)(K), (L), (G).

Weds Ljurt r`vd`ws te` Ljaadssdjo—s rub` uog`r te` twj-st`p kokbytdlkb

hrka`wjrm jh Le`vrjo, P.\.K., Dol. v. O^GL , 786 P.\. 58 H.9;9), kog ‒àpbjy]sQ

trkgdtdjokb tjjbs jh stktutjry ljostrultdjo,‑ dolbugdof ko `xkadoktdjo jh te`

stktut`—s t`xt, purpjs`, strultur` kog b`fdsbktdv` edstjry, tj g`t`rado` we`te`r

Ljofr`ss uokandfujusby ̀ xpr`ss`g dts dotòt jo ‒te` pr`lds` qu`stdjo kt dssu`,‑

!"#$ #&'( )*+,**+- ./9;>(


44/86

>4

Le`vrjo, 786 P.\. kt 57< & o.4. Dh Ljofr`ss eks gjo` sj, ‒tekt ds te` òg jh te`

aktt`r ‑ n`lkus` ‒te` ljurt, ks w`bb ks te` kfòly, aust fdv` `hh`lt tj te`

uokandfujusby ̀ xpr`ss`g dotòt jh Ljofr`ss.‑ A`r`gdte v. H`g. Ado` \kh`ty &

E`kbte ^`vd`w Ljaa—o, ;66 H., ;90< (G.L. Ldr. ;444) (ldtktdjo jadtt`g)=

s`` kbsj Le`vrjo, 786 P.\. kt 57< o.4 (Ljofr`ss—s ‒dotòtdjo ds te` bkw kog aust

n` fdvò `hh`lt‑).

Joby dh Ljofr`ss—s dotòt ds uolb`kr gj`s te` Ljurt prjl``g tj Le`vrjo st`p

twj, wedle ksms ‒we`te`r te` kfòly—s kosw`r ds nks`g jo k p`radssdnb`

ljostrultdjo jh te` stktut`.‑ Dg. kt 5794 H. (G.L. Ldr. >999). Weds Ljurt g`h`rs tj ko

kfòly—s dot`rpr`tktdjo joby dh dt ds ‒r`ksjoknb` kog ljosdstòt wdte te` stktutjry

sleà` kog b`fdsbktdv` edstjry,‑ Ldty jh Lb`v`bkog v. P.\. Oulb`kr ^`fubktjry

Ljaa—o, 85 H.


45/86

;55-54 (>9;7) (ldtktdjo jadtt`g)= s`` kbsj Ybdvk,

Dol. v. Aòsdof, ;086, >060 o.< (>9;;) (stktdof tekt ljurts ‒gj ojt g`h`r

tj ko kfòly—s ubtdakt` ljolbusdjo knjut we`te`r stkt` bkw sejubg n` pr`-àpt`g‑)

(ldtdof Vy`te v. B`vdo`, 000 P.\. 000, 068 (>994)).

Hdokbby, te` Ljurt aust ‒ljogult]Q k ―s`krledof kog lkr`hub— doqudry, do jrg`r

tj kssur` tekt te` Ljaadssdjo eks ―`xkado`]gQ te` r`b`vkot gktk kog krtdlubkt`]gQ

… k rktdjokb ljoo`ltdjo n`tw`ò te` hklts hjuog kog te` lejdl` akg`.—‑ Kss—o jh

Jdb Ydp` Bdo`s v. H@^L , 5< H.7, ;7


46/86

, 7;8 (;46;), kog Ajtjr

Xèdlb` Ahrs. Kss—o v. \tkt` Hkra Aut. Kutj. Dos. Lj., 78< P.\. >4, 7< (;45997). Pog`r \`ltdjo >(n) jh te`

\`lurdtd`s Klt, weò te` Ljaadssdjo òfkf`s do rubàkmdof dt aust ljosdg`r ‒te`

prjt`ltdjo jh dov`stjrs‑ kajof jte`r hkltjrs do g`t`radodof we`te`r dts kltdjo ‒ds

o`l`sskry jr kpprjprdkt` do te` punbdl dot`r`st.‑ ;0 P.\.L. § 66n(n). We`

Ljaadssdjo aust kbsj ljosdg`r ljaaòts sunadtt`g jo te` ljsts kog nò`hdts jh

te` rub` kog ‒r`spjog do k r`ksjo`g akoo`r tj tejs` tekt rkds` sdfodhdlkot

prjnbàs.‑ Ljvkg Ljaauos. Lj. v. HLL , 709 H.5, 009 (G.L. Ldr. >998)

(ldtktdjo jadtt`g).

K^FPA@OW

3" WE@ LJAAD\\DJO—\ G@HDODWDJO JH ‒FK!E3@3N?

:K-8D!$N- ‑ LJOHBDLW\ VDWE WE@ K6!5>3HKGK$EC

NM:-N$$N? 36


47/86

!"


48/86

6 P.\. 05;,

89> (;444) (stktdof tekt ‒qukbdhd`g dogdvdgukbs‑ uog`r Ka`rdlkos wdte Gdskndbdty

Klt kr` p`rsjos wdte gdskndbdtd`s wej a``t ‒te` ̀ ssòtdkb `bdfdndbdty r`qudràòts‑

hjr ekndtktdjo do ljaauodty-nks`g prjfrka)= Ybkoo`g Ykròtejjg jh Dogdkok, Dol.

v. Ljaa—r jh Dogdkok \tkt` G`p—t E`kbte, 844 H., 465 (6te Ldr. >9;>)

(r`h`rrdof tj gdltdjokry g`hdodtdjo jh ‒qukbdhd`g‑ ks ‒]pQjss`ssdof te` o`l`sskry

qukbdhdlktdjos‑ kog ejbgdof tekt ‒qukbdhd`g‑ do ljot`xt jh A`gdlkdg s`rvdl`s

‒uokandfujusby r`bkt`s tj k prjvdg`r—s hdto`ss tj p`rhjra te` a`gdlkb s`rvdl`s te`

pktdòt r`qudr s̀‑) (ldtktdjos jadtt`g)= H`g. ^. @vdg. 69> (kbbjwdof hjr t`stdajoy jh

‒]kQ wdto`ss wej ds qukbdhd`g ks ko `xp`rt ny mojwb`gf`, smdbb, `xp`rdòl`, trkdodof,

jr ̀ gulktdjo‑). Dog``g, ks gdsluss`g do \`ltdjo D.L, dohrk, weò te` t`ra

‒qukbdhd`g‑ eks n`ò us`g tj ajgdhy ‒purleks`r‑ jr ‒dov`stjr‑ do te` ljot`xt jh

jte`r h`g`rkb s`lurdtd`s bkws kog r`fubktdjos, te` `hh`lt eks kbwkys n`ò tj r`strdlt

te` s`t jh pjtòtdkb dov`stjrs tj tejs` wdte suhhdldòt w`kbte, dolja`, kog

sjpedstdlktdjo tj kssua` fr`kt`r hdokoldkb rdsm.

Dt ds doljosdstòt wdte te` pbkdo a`kodof jh ‒qukbdhd`g‑ hjr te` Ljaadssdjo

tj ojw g`hdo` ‒qukbdhd`g purleks`r‑ tj a`ko ‒koy p`rsjo‑ wej akm`s k pkrtdlubkr

purleks`.

!"#$ #&'( )*+,**+- ./9;>(


49/86

. We` Ljaadssdjo—s uoqukbdhd`g g`hdodtdjo jh ‒qukbdhd`g

purleks`r‑ vdjbkt`s te` t`ra—s pbkdo a`kodof.

Do dts Kgjptdof ^`b`ks`, te` Ljaadssdjo klmojwb`gf`g ljaaòt`rs—

jnc`ltdjos tekt dts prjpjs`g g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ vdjbkt`g te` pbkdo

a`kodof jh \`ltdjo ;5(n)(;,506. Vedb` te`

Ljaadssdjo gdg ojt gdr`ltby r`spjog tj teds lrdtdldsa, dt prjl``g`g tj g`hòg dts

stktutjry dot`rpr`tktdjo jo twj fò`rkb frjuogs.

Hdrst, te` Ljaadssdjo krfu`g tekt \`ltdjo ;5(n)(;,504. Wekt

ds joby pkrtby tru`, sdol` \`ltdjo ;5(n)(


50/86

;0 H.999)

(‒]WQe` bklm jh k stktutjry g`hdodtdjo gj`s ojt r`og`r k t`ra kandfujus.‑) (ldtktdjo

jadtt`g).

\`ljog, te` Ljaadssdjo `apeksdz`g dts kutejrdty uog`r \`ltdjo ;5(n)(


51/86


52/86


53/86

^`fubktdjo K

s`lurdtd`s kr` jhh`r`g jr sjbg.


54/86

)(F). Weds prjvdsdjo, te` Ljaadssdjo krfu`s, kbbjws dt tj ljosdg`r ‒ojt

joby te` akogktjry h`ktur`s jh \`ltdjo ), nut kbsj akoy jh te` gdslr`tdjokry

h`ktur`s ljotkdo`g do jur hdokb rub`s‑ “ d.`., te` òtdr`ty jh dts kaògaòts tj

^`fubktdjo K “ do g`t`radodof we`te`r, hjr purpjs`s jh stkt` pr`àptdjo, dts

g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ tj a`ko kbb purleks`rs jh Wd`r > s`lurdtd`s ds

ljosdstòt wdte te` punbdl dot`r`st kog dov`stjr prjt`ltdjo. \`` 59 H`g. ^`f. kt

>;,504-89= s`` kbsj Jrg`r Gòydof \tky kt 8. Wekt r`ksjodof ds hbkw`g.

Hdrst, \`ltdjo ;5(n)(96; (>9;>) (ejbgdof tekt we`r` ‒k fò`rkb

kutejrdzktdjo kog k ajr` bdadt`g, sp`ldhdl kutejrdzktdjo `xdst sdg`-ny-sdg`,‑ te`

‒t`ras jh te` sp`ldhdl kutejrdzktdjo aust n` ljapbd`g wdte‑).

!"#$ #&'( )*+,**+- ./9;>(


55/86

79

\`ljog, te` kggdtdjokb ‒h`ktur`s‑ r`h`ròl`g ny te` Ljaadssdjo gj ojt

prjajt` dov`stjr prjt`ltdjo do te` akoo`r r`qudr`g ny \`ltdjo ;5(n)(

jhh`rdofs n` bdadt`g tj kllr`gdt`g dov`stjrs jr p`rsjos jte`rwds` sunc`lt tj

sp`ldhd`g dov`staòt bdadtktdjos.‑ \`` 59 H`g. ̂ `f. kt >;,504 (àpeksds kgg`g). Dt

ds dapjrtkot tj r`ljfodz` wekt teds bdadtktdjo gj`s ojt gj. Do prjaubfktdof dts o`w

rub` jo ^`fubktdjo K, te` Ljaadssdjo ljubg ekv` g`hdo`g ‒qukbdhd`g purleks`r‑ tj

a`ko ko ‒kllr`gdt`g dov`stjr‑ ks g`hdo`g do ûb` 09;(k) jh ^`fubktdjo G, ;6

L.H.^. § >99; Yrjpjsdof ^`b`ks`. \`` \`ltdjo DD.L,

dohrk. Dost`kg, te` Ljaadssdjo ojw lejs` tj g`hdo` ‒qukbdhd`g purleks`r‑ tj a`ko

kbb purleks`rs jh Wd`r > s`lurdtd`s uog`r ^`fubktdjo K, kog teò prjvdg`g `bs`we`r`

tekt Wd`r > purleks`rs aust n` `dte`r kllr`gdt`g dov`stjrs jr bdadt te`dr dov`staòt

tj k akxdaua jh ;9 p`rlòt jh te`dr kooukb dolja` jr o`t wjrte. \`` 59 H`g. ^`f.

kt >;,540-48 (tj n` ljgdhd`g kt ;6 L.H.^. § >0;(g)(>)(L)). Hurte`rajr̀ , do

ljotrkst tj te` r`qudràòt uog`r ^`fubktdjo G tekt dssu`rs akmdof fò`rkb

sjbdldtktdjo jhh`rdofs uog`r ̂ ub` 098(l) aust tkm` ‒r`ksjoknb` st`ps‑ tj v`rdhy tekt

purleks`rs kr̀ ‒kllr`gdt`g dov`stjrs,‑ s`` ;6 L.H.^. § >)(dd), te`

!"#$ #&'( )*+,**+- ./9;>(


56/86

7;

Ljaadssdjo r`hus`g tj r`qudr` dssu`rs uog`r ^`fubktdjo K ‒tj tkm` r`ksjoknb`

st`ps tj v`rdhy . . . dov`stjrs— ljapbdkol` wdte te` dov`staòt bdadtktdjo‑ “ sdol`

gjdof sj adfet ‒gdssukg]`Q dssu`rs hrja s`bbdof tj ojo-kllr`gdt`g dov`stjrs do Wd`r

> jhh`rdofs ny dolr`ksdof ljapbdkol` uol`rtkdotd`s kog jnbdfktdjos,‑ s`` 59 H`g.

^`f. kt >;,5;6.

Ks k r`subt, ojo-kllr`gdt`g dov`stjrs “ d.`., p`jpb` wej gj ojt sktdshy lrdt`rdk

dogdlktdof tekt ‒te`y kr` lkpknb` jh prjt`ltdof teàs`bv`s do trkoskltdjos tekt kr`

`xàpt hrja r`fdstrktdjo uog`r te` \`lurdtd`s Klt,‑ s`` 59 H`g. ^`f. kt >;,5;8 “

aky ojw bjs` up tj ;9 p`rlòt jh te`dr o`t wjrte do ^`fubktdjo K jhh`rdofs. We`y

aky bjs` `vò ajr` dh te`y gj ojt kllurkt b̀y r`pjrt te`dr w`kbte. Weds pjtòtdkb hjr

sdfodhdlkot bjss ny ojo-sjpedstdlkt`g dov`stjrs gj`s ojt prjajt` ‒te` prjt`ltdjo jh

dov`stjrs,‑ kog dt ds ojt wekt Ljofr`ss ekg do adog weò dt kbbjw`g te`

Ljaadssdjo kutejrdty tj `stknbdse bdadt`g stkt` pr`àptdjo nks`g jo k g`hdodtdjo jh

‒qukbdhd`g purleks`rs.‑

7. We` Ljaadssdjo—s ‒g`hdodtdjokb kutejrdty‑ gj`s ojt kbbjw dt

tj gdsr`fkrg te` stktut`—s pbkdo a`kodof.

We` Ljaadssdjo—s prdakry kr fuaòt jo pbkdo a`kodof ojw kpp`krs tj n`

tekt dt gj`s ojt ekv` tj hjbbjw dt. Do dts jrg`r gòydof Kugdtjr Bdog`ò—s r`qu`st

hjr k stky, te` Ljaadssdjo krfu`g tekt te` pbkdo a`kodof jh ‒qukbdhd`g purleks`r‑

!"#$ #&'( )*+,**+- ./9;>(


57/86

7>

ds drr`b`vkot n`lkus` Ljofr`ss kutejrdz`g te` Ljaadssdjo tj g`hdo` te` t`ra

‒qukbdhd`g purleks`r‑ uog`r te` \`lurdtd`s Klt. \`` Jrg`r Gòydof \tky kt 0= s``

kbsj dg. kt 0-8 (lbkdadof nrjkg ‒g`hdodtdjokb kutejrdty‑). We` Ljaadssdjo ds

adstkmò.

We` hklt tekt stktutjry bkofukf` aky n` kandfujus jr sunc`lt tj kfòly

g`hdodtdjo ‒do sja` knstrklt sòs`‑ gj`s ojt aktt`r uog`r Le`vrjo st`p jo`. \``

Lkb. Dog`p. \ys. Jp`rktjr Ljrp. v. H@^L , H.= s`` kbsj Nrjwo v. Fkrgo`r, 0;< P.\. ;;0, ;;5

(;447) (‒Kandfudty ds k lr`ktur` ojt jh g`hdodtdjokb pjssdndbdtd`s nut jh stktutjry

ljot`xt.‑) (ldtktdjo jadtt`g).

Klljrgdofby, `vò we`r` ko kfòly eks kutejrdty tj g`hdo` k t`ra do sja`

r`sp`lt, dt aky ojt prjaubfkt` k g`hdodtdjo tekt wejbby ljotrkgdlts te` t`ra—s pbkdo

a`kodof. \``, `.f., ALD W`b`ljaa. Ljrp. v. KW&W Lj., 0;> P.\. >;5, >>0->4

(;447) (r`c`ltdof kfòly—s g`hdodtdjo jh ‒ajgdhy‑ n`lkus` ‒ko kfòly—s

dot`rpr`tktdjo jh k stktut` ds ojt òtdtb`g tj g`h`ròl` weò dt fj`s n`yjog te`

a`kodof tekt te` stktut` lko n`kr ‑)= \w. Kdrbdo`s Lj. v. Wrkosp. \`l. Kgado., 007

H.994) (ejbgdof tekt kfòly—s dot`rpr`tktdjo jh

!"#$ #&'( )*+,**+- ./9;>(


58/86

7<

‒slr`òdof pkssòf`rs‑ tj dolbug` ojo- pkssòf`rs vdjbkt`s t`ra—s ‒wdg`by

uog`rstjjg a`kodof‑)= O^GL v. @YK, 754 H.09, ;>06-89 (G.L. Ldr. >996)

(ejbgdof tekt @YK—s g`hdodtdjo jh ‒ljaa`rldkb jr dogustrdkb wkst`‑ ljohbdlts wdte

‒pbkdo stktutjry bkofukf`‑ kog ‒ekbts jur r`vd`w kt Le`vrjo—s st`p ;‑). Ks Custdl`

\lkbdk put dt, ‒Dt gj`s ojt aktt`r we`te`r te` wjrg ―y`bbjw— ds kandfujus weò te`

kfòly eks dot`rpr`t`g dt tj a`ko ―purpb`.—‑ Podt`g \tkt`s v. Eja` Ljolr`t` &

\uppby, BBL , ; \. Lt. ;59;>) (\lkbdk, C., ljolurrdof).

E`r`, Ljofr`ss kutejrdz`g te` Ljaadssdjo tj g`hdo` ny rub` ‒qukbdhd`g

purleks`r‑ hjr te` purpjs` jh dgòtdhydof k ‒ljv`r`g s`lurdty wdte r`sp`lt tj te`

jhh`r jr skb` jh te` s`lurdty tj qukbdhd`g purleks`rs‑ tekt wjubg n` sunc`lt tj stkt`

pr`àptdjo uog`r \`ltdjo ;5(n)(


59/86

77

kbb purleks`s kr` sunc`lt tj pr`àptdjo “ ds te` `qudvkbòt jh g`hdodof ‒y`bbjw‑ tj

a`ko ‒purpb`.‑ Klljrgdofby, dt hkdbs kt Le`vrjo st`p jo`.

>" We` Ljaadssdjo—s G'I+;+%+9; ^òg`rs te` ‒[ukbdhd`g Yurleks`r‑

-'A)+*'=';% $)*2/),&.' &;0 89;I/+(%, O+%7 %7' >*9&0'*$%&%)%9*B @*&='O9*4"

We` pbkdo a`kodof jh te` stktutjry bkofukf` ds r`dohjrl`g ny twj w`bb-

`stknbdse`g lkojos jh stktutjry ljostrultdjo.

Hdrst, ‒]dQt ds ―k lkrgdokb prdoldpb` jh stktutjry ljostrultdjo— tekt ―k stktut`

jufet, upjo te` wejb`, tj n` ljostru`g—‑ do k akoo`r tekt òsur`s tekt ‒―oj lbkus`,

sòtòl`, jr wjrg sekbb n` sup`rhbujus, vjdg, jr dosdfodhdlkot.—‑ W^V Dol. v.

Kogr`ws, 0 P.\.


60/86

70

\`ljog, dt ds k ‒huogka`otkb lkojo jh stktutjry ljostrultdjo tekt te` wjrgs

jh k stktut` aust n` r`kg do te`dr ljot`xt kog wdte k vd`w tj te`dr pbkl` do te`

jv`rkbb stktutjry sle`a`.‑ HGK v. Nrjwo & Vdbbdkasjo Wjnkllj Ljrp., 0>4 P.\.

;>9, ;999) (qujtdof Gkvds v. Adle. G`pt. jh Wr`ksury, 754 P.\. 59


61/86

78

rub`‑ kog ‒ljosdstòt wdte te` punbdl dot`r`st kog te` prjt`ltdjo jh dov`stjrs.‑ Dg.

kt § 66r(n)( We` pkrkbb`b strultur` jh \`ltdjos ;5(n) kog ;5(n)(7)(G) uog`rado`s te`Ljaadssdjo—s kttàpt tj g`hòg dts g`hdodtdjo jo te` frjuog tekt dt ‒s`rv`s k

gdhh`ròt purpjs` n`lkus` dt kppbd`s joby do ̂ `fubktdjo K jhh`rdofs.‑ \`` 59 H`g.^`f. kt >;,589. @vò do te` ljot`xt jh ^`fubktdjo K, koy kttàpt ny te`

Ljaadssdjo tj pr`àpt stkt` prjt`ltdjos r`qudr`s k a`kodofhub g`hdodtdjo jh‒qukbdhd`g purleks`r.‑

!"#$ #&'( )*+,**+- ./9;>(


62/86

76

r`qudràòt ny g`hdodof ‒qukbdhd`g purleks`r‑ tj a`ko `v`ryjo` tj weja

pkrtdlubkr s`lurdtd̀ s kr` jhh`r`g jr sjbg. \ule ko kpprjkle, dh upe`bg, wjubg

kajuot tj k vkst `xpkosdjo do te` Ljaadssdjo—s kutejrdty tj jv`rrdg` stkt`

r`fubktdjo kog gdsrupt te` oktdjo—s bjofstkogdof systà jh gukb r`fubktjry

òhjrlàòt. We` Ljaadssdjo wjubg n` ̀ oknb`g, a`r`by ny g`hdodof ‒qukbdhd`g

purleks`r‑ ks dt bdm`s, tj pr̀ àpt stkt` kutejrdty wdte r s̀p`lt tj koy lkt`fjry jh

s`lurdty tekt dt bdm`s. ‒Ljofr`ss ljubg ojt ekv` dotòg`g tj g`b`fkt` k g`ldsdjo jh

sule `ljojadl kog pjbdtdlkb sdfodhdlkol` tj ko kfòly do sj lryptdl k hksedjo.‑

Nrjwo & Vdbbdkasjo, 0>4 P.\. kt ;89. N`lkus` ‒ojtedof do te` stktut`—s t`xt jr

te` b`fdsbktdv` r`ljrg ljotàpbkt`s tekt vkst `xpkosdjo jh te` ]te` Ljaadssdjo—sQ

kutejrdty,‑ Bjvdof v. D^\ , 67> H.9;7), te` rub` sejubg n`

vklkt`g uog`r Le`vrjo st`p jo`.

8" We` Ljaadssdjo—s G`hdodtdjo Ljohbdlts wdte Ejw ‒[ukbdhd`gYurleks`r‑ D&, >''; K,'0 +; @'0'*&/ $'()*+%+', E&O, &;0

-'.)/&%+9;,"

We` a`kodof jh ‒qukbdhd`g purleks`r‑ ks us`g do te` \`lurdtd`s Klt ds hurte`r

`vdgòt hrja te` akoo`r do wedle lbjs`by r`bkt`g t`ras ekv` n`ò us`g do jte`r

h`g`rkb s`lurdtd`s bkws kog r`fubktdjos. Ks te` \uprà` Ljurt eks jns`rv`g, ‒te`

a`kodof jh jo` stktut` aky n` khh`lt`g ny jte`r Klts, pkrtdlubkrby we`r` Ljofr`ss

!"#$ #&'( )*+,**+- ./9;>(


63/86

75

eks spjm`o suns`qu`otby kog ajr` sp`ldhdlkbby tj te` tjpdl kt ekog.‑ Nrjwo &

Vdbbdkasjo, 0>4 P.\. kt ; H.


64/86

74

;77K tj bkrf` sjpedstdlkt`g dostdtutdjokb dov`stjrs, sule ks sp`ldhd`g dostdtutdjos

tekt jwo kog dov`st jo k gdslr`tdjokry nksds kt b`kst $;99 adbbdjo do s`lurdtd`s kog

nkoms kog jte`r sp`ldhd`g hdokoldkb dostdtutdjos wdte k o`t wjrte jh kt b`kst $>0

adbbdjo. ;6 L.H.^. § >5 (prjpjs`g Ojv. ;, ;455).

We` t`ra ‒qukbdhd`g dov`stjr‑ ds g`hdo`g do s`ltdjo ,

;;< \tkt. ;


65/86

09

dostdtutdjokb trusts, akrm`t dot`ra`gdkrd`s, kog okturkb p`rsjos, ljrpjrktdjos jr

pkrto`rsedps tekt jwo kog dov`st jo k gdslr̀ tdjokry nksds ajr̀ teko $>0 adbbdjo

(jr, do sja` ldrluastkol`s, $;9 adbbdjo). Dg. kt § 65l(k)(07)(K), (N). Ljofr`ss

kbsj kbbjw`g te` Ljaadssdjo tj g`hdo` ‒qukbdhd`g dov`stjr‑ tj dolbug` jte`r

p`rsjos “ prjvdg`g tekt te` Ljaadssdjo ljosdg`r ‒sule hkltjrs ks te` hdokoldkb

sjpedstdlktdjo jh te` p`rsjo, o`t wjrte, kog mojwb`gf` kog `xp`rdòl` do hdokoldkb

aktt`rs.‑ Dg. kt § 65l(k)(07)(L).

\dadbkrby, uog`r \`ltdjo >90(`) jh te` Dov`staòt Kgvds`rs Klt jh ;479, ;0

P.\.L. § 59n-; `t s`q., Ljofr`ss kutejrdz`g te` Ljaadssdjo tj `xàpt ny rub`

p`rsjos wej gj ojt r`qudr` te` stktut`—s prjt`ltdjos hrja p`rhjrakol` h``s lekrf`g

ny dov`staòt kgvds`rs “ nks`g jo tejs` p`rsjos— ‒hdokoldkb sjpedstdlktdjo, o`t

wjrte, mojwb`gf` jh kog `xp`rdòl` do hdokoldkb aktt`rs, kajuot jh kss`ts uog`r

akokfàòt,‑ kog jte`r hkltjrs. \`` dg. § 59n-0(`). We` Ljaadssdjo

dapbàòt`g teds ̀ xàptdjo ny prjaubfktdof k g`hdodtdjo jh ‒qukbdhd`g lbdòt‑ tekt

dolbug`s joby p`rsjos wdte kt b`kst $; adbbdjo uog`r akokfàòt jr k o`t wjrte

knjv` $> adbbdjo= edfeby mojwb`gf`knb` àpbjy``s jh te` dov`staòt kgvds`r= kog

‒qukbdhd`g purleks`rs‑ ks g`hdo`g hjr purpjs`s jh te` Dov`staòt Ljapkoy Klt jh

;479, ;0 P.\.L. § 59k-; `t s`q. \`` ;6 L.H.^. § >60.>90-


66/86

0;

\dfodhdlkotby, tekt bkst lkt`fjry jh ‒qukbdhd`g lbdòts‑ (‒qukbdhd`g purleks`rs‑

uog`r te` Dov`staòt Ljapkoy Klt) wks kgg`g ny Ljofr`ss do O\ADK “ te` v`ry

stktut` tekt kbsj `stknbdse`g te` ‒qukbdhd`g purleks`r‑ prjvdsdjo uog`r \`ltdjo

;5(n)(0 adbbdjo

do kffr`fkt` dov`staòts. ;0 P.\.L. § 59k->(k)(0;)= s`` kbsj dg. § 59k-44>7, >

(>996) (ldtktdjo jadtt`g). Klljrgdofby, te` Ljaadssdjo—s kttàpt ojw tj g`hdo`

!"#$ #&'( )*+,**+- ./9;>(


67/86

0>

‒qukbdhd`g purleks`r‑ tj a`ko ‒koy p`rsjo‑ wej akm`s k pkrtdlubkr purleks`,

hdokoldkbby sjpedstdlkt`g jr ojt, lkoojt stkog uog`r Le`vrjo st`p jo`.

?" (


68/86

0<

;97->4, kt


69/86

07

We` Ejus` Ljaadtt`` hurte`r jhh`r`g ‒fudgkol`‑ tekt do g`hdodof ‒qukbdhd`g

purleks`r‑ hjr teds purpjs` uog`r te` \`lurdtd`s Klt, te` Ljaadssdjo sejubg

ljosdg`r te` g`hdodtdjo jh tekt t`ra ‒ prjvdg`g do Wdtb` DD jh teds b`fdsbktdjo uog`r

\`ltdjo >, kt ;5 (;448),

r`prdot`g do ;448 P.\.L.L.K.O. kt 49;>, Ljofr`ss ljohdra`g dts dotòtdjos r`fkrgdof te`

sljp` jh ‒qukbdhd`g purleks`r‑ pr`àptdjo ny r`h`rrdof `xpbdldtby tj te` bdadt`g

g`hdodtdjokb kutejrdty fdvò tj te` Ljaadssdjo sdx y`krs `krbd`r. \`` ;0 P.\.L.

§ 66r(n)(7)(G)(dd) (r`h`rrdof tj \`ltdjo ;5(n)(


70/86

00

`xàptdof ojt cust s`lurdtd`s jhh`r`g jr sjbg jo k oktdjokb s`lurdtd`s `xlekof` jr tj

‒k qukbdhd`g purleks`r,‑ nut kbsj tejs` ‒jhh`r`g jr sjbg terjufe k nrjm`r jr g`kb`r .‑

\`` E.^. ^`p. Oj. ;;>->98, > (>9;;). Do r`kledof teds ljaprjads`, aàn`rs jh

te` Ejus` Ljaadtt`` àpeksdz`g tekt ‒te` prjt`ltdjos prjvdg`g ny stkt` r`vd`w‑

ràkdo`g ̀ ssòtdkb, pkrtdlubkrby sdol` ‒^`fubktdjo K s`lurdtd`s kr` sja`tda`s edfe-

rdsm jhh`rdofs tekt aky n` susl`ptdnb` tj hrkug.‑ Dg. kt ;< (adojrdty vd`ws)= s``

kbsj ;06 Ljof. ^`l. E6>, >9;;). Kt oj pjdot gdg koy aàn`r

suff`st tekt te` kutejrdty Ljofr`ss fkv` tj te` Ljaadssdjo tj g`hdo` ‒qukbdhd`g

purleks`rs‑ kbbjw`g dt tj pr`àpt stkt` r`fdstrktdjo kog qukbdhdlktdjo r`qudràòts

hjr òtdr` lkt`fjrd`s jh s`lurdtd`s. N`lkus` Ljofr`ss ‒uokandfujusby ̀ xpr`ss`g‑

dts dotòt, ‒tekt ds te` òg jh te` aktt`r.‑ Le`vrjo, 786 P.\. kt 57>-7


71/86

08

wdte ‒kllr`gdt`g dov`stjrs.‑ \``, `.f., Fjbgst`do v. \@L , 70; H.998) (strdmdof gjwo Ljaadssdjo—s g`hdodtdjo jh ‒lbdòt‑ uog`r

Dov`staòt Kgvds`rs Klt n`lkus` dt lka` ‒lbjs` tj vdjbktdof te` pbkdo bkofukf` jh

te` stktut`‑ kog Ljaadssdjo gdg ojt ‒kg`qukt`by `xpbkdo]Q ejw te` r`bktdjosedp

n`tw`ò e`gf` huog dov`stjrs kog kgvds`rs custdhd`s tr`ktdof te` hjra`r ks lbdòts jh

te` bktt`r ‑).

!" &,'0 9; & :'*=+,,+Y/' 89;,%*)(%+9; 9I %7'

$'()*+%+', !(% &;0 %7' LG>$ !(%"

Do g`t`radodof we`te`r ko kfòly—s dot`rpr`tktdjo ‒ds p`radssdnb` jr dost`kg

ds hjr`lbjs`g ny te` stktut`,‑ k ljurt aust ‒àpbjy kbb te` tjjbs jh stktutjry

dot`rpr`tktdjo, dolbugdof ―t`xt, strultur`, purpjs`, kog b`fdsbktdv` edstjry.—‑ Bjvdof,

67> H.0; H.;4, >>7 (G.L. Ldr. >99;)). ‒Oj aktt`r ejw dt ds hrka`g, te` qu`stdjo k ljurt hkl`s

weò ljohrjot`g wdte ko kfòly—s dot`rpr`tktdjo jh k stktut` dt kgadodst`rs ds

kbwkys, sdapby, we`te`r te` kfòly eks stky`g wdtedo te` njuogs jh dts stktutjry

kutejrdty.‑ Ldty jh Krbdoftjo v. HLL , ;


72/86

06

kfkdost pr``aptdjo tekt aky n` jv`rlja` joby dh te` ljurt hdogs tekt te`

pr``aptdv` purpjs` jh Ljofr`ss wks ‒lb`kr kog akodh`st,‑ A`gtrjodl, 0;5 P.\. kt

750.

E`r`, dt ds kltukbby ‒akodh`stby ljotrkry tj te` stktut`,‑ s`` Le`vrjo, 786

P.\. kt 57, kt


73/86

05

b`fdsbktdv` dot`ot. We` Ljaadssdjo hurte`r uog`rado`g \`ltdjo ;5(n)(


74/86

04

weò te`y s`t ksdg` kfòly r`fubktdjos wedle, tejufe w`bb wdtedo te` kfòld`s—

sljp` jh kutejrdty, kr` ojt suppjrt`g ny te` r`ksjos tekt te` kfòld`s kggul`.‑ Hjx

v. Lbdotjo, 857 H.9;>) (ldtktdjo jadtt`g). Ojr aky k ljurt

upejbg k lekbbòf`g r`fubktdjo nks`g upjo ‒kpp`bbkt` ljuos`b—s pjst ejl

rktdjokbdzktdjos hjr kfòly kltdjo.‑ \tkt` Hkra, 78< P.\. kt 09 (;45;,504. We` Ljaadssdjo krfu`g tekt ‒\`ltdjo ;5(n)(;,504-89. Nut

te` a`r` hklt tekt te` Ljaadssdjo aky tkdbjr dts g`hdodtdjos tj gdhh`ròt s`lurdtd`s

gj`s ojt a`ko tekt dt aky dssu` k g`hdodtdjo jh ‒qukbdhd`g purleks`r‑ tekt ds

uoqukbdhd`g ks tj wej aky purleks` teà. \`` \`ltdjo D.K.>, suprk.

\dadbkrby, te` Ljaadssdjo krfu`g tekt te` ‒akogktjry h`ktur`s‑ prjvdg`g

kog ‒gdslr`tdjokry h`ktur`s‑ kbbjw`g uog`r \`ltdjo ) sjaèjw fkv` dt

‒gdslr`tdjokry kutejrdty‑ tj kgjpt k ‒qukbdhd`g purleks`r‑ g`hdodtdjo tekt sp`ldhd`s

!"#$ #&'( )*+,**+- ./9;>(


75/86

89

joby ‒te` pkrtdlubkr lekrklt`rdstdls jh trkoskltdjos ̀ xàpt hrja r`fdstrktdjo.‑ \``

59 H`g. ^`f. kt >;,504. Nut te` Ljaadssdjo—s kutejrdty tj g`v`bjp fò`rkb

prjl`gur`s hjr ^`fubktdjo K gj`s ojt kbbjw dt tj `xpkog te` bdadt`g pr`àptdjo

kutejrdty lkrv`g jut uog`r \`ltdjos ;5(n)(


76/86

8;

Yrjpjsdof ̂ `b`ks`, te` Ljaadssdjo `qukt`g ‒qukbdhd`g purleks`r‑ uog`r \`ltdjo

;5(n)(, 0;7-;0 (>994)). Kt te` ska` tda`, ko kfòly—s r`vds`g dot`rpr`tktdjo ds

òtdtb`g tj b`ss g`h`ròl` teko dts ‒ljotàpjrko`jus ljostrultdjo‑ jh k stktut`. \``

!"#$ #&'( )*+,**+- ./9;>(


77/86

8>

Vktt v. Kbksmk, 70; P.\. >04, >6>-6< (;45;) (ldtktdjos jadtt`g)= s`` kbsj Hdo.

Ybkoodof Kss—o v. \@L , 75> H.996) (hdogdof kfòly—s

dodtdkb kog bjofstkogdof ‒uog`rstkogdof jh dts kutejrdty‑ suff`stdv` jh stktut`—s

kltukb a`kodof). Kt te` v`ry b`kst, te` kfòly aust prjvdg` ‒k r`ksjo`g

`xpbkoktdjo,‑ dolbugdof k gdspbky jh ‒kwkrò`ss tekt dt ds lekofdof pjsdtdjo.‑ Hjx

W`b`vdsdjo \tktdjos, 008 P.\. kt 0;0 (àpeksds do jrdfdokb).

We` Ljaadssdjo eks ojt gjo` sj e`r`. Wj te` ljotrkry, dt dapbkusdnby

gòd`g do dts Kgjptdof ^`b`ks` tekt te`r` wks koy doljosdstòly n`tw`ò dts o`w

rub` kog dts prdjr prjpjs`g g`hdodtdjo. \`` 59 H`g. ̂ `f. kt >;,504-89. We`

Ljaadssdjo klmojwb`gf`g tekt dts ̀ xkadoktdjo jh O\ADK—s b`fdsbktdv` edstjry do

te` >99; Yrjpjsdof ^`b`ks` hjuog tekt ‒k qukbdhd`g purleks`r g`hdodtdjo sejubg

dolbug` dov`stjrs tekt kr` sjpedstdlkt`g kog lkpknb` jh prjt`ltdof teàs`bv`s.‑ Dg.

kt >;,504= s`` kbsj 88 H`g. ^`f. kt 88,57;. Nut dt r`c`lt`g te` r̀ b`vkol` jh tekt

hdogdof jo te` frjuog tekt ‒]wQedb` dt aky ekv` n`ò kpprjprdkt` tj hjlus jo

kttrdnut`s jh te` purleks`r weò lrkhtdof k ―qukbdhd`g purleks`r— g`hdodtdjo tekt

wjubg ekv` kppbd`g do k nrjkg s`t jh pjssdnb` trkoskltdjos, ks do te` >99;

Yrjpjsdof ̂ `b`ks`,‑ te` g`hdodtdjo do dts o`w rub` ‒s`rv`s k gdhh`ròt purpjs`

n`lkus` dt kppbd`s joby do ^`fubktdjo K jhh`rdofs.‑ 59 H`g. ^`f. kt >;,504-89.

!"#$ #&'( )*+,**+- ./9;>(


78/86

8<

Wekt ds k ojo s`qudtur . We` hklt tekt Ljofr`ss dot`og`g te` ‒qukbdhd`g purleks`r‑

prjvdsdjo tj n` bdadt`g do k l`rtkdo wky “ d.`., kppbdlknb` joby tj w`kbtey,

sjpedstdlkt`g dov`stjrs “ lkoojt n` gdsr`fkrg`g nks`g jo te` p`rl`dv`g ‒purpjs`‑

jh dts kppbdlktdjo jr te` lkt`fjry jh s`lurdtd`s kt dssu`. We` Ljaadssdjo—s hkdbur`

tj lja` tj t`ras wdte dts `krbd`r dot`rpr`tktdjo ds jo` ajr` r`ksjo wey te` hdokb

rub` lkoojt stkog uog`r Le`vrjo st`p twj.

333" 35:!8< G6 36WN$


79/86

87

sdadbkrdtd`s n`tw`ò te` prjpjs`g rub` kog jhh`rdofs uog`r ûb` 098, ^`fubktdjo G

“ wedle OK\KK g`slrdn`g ks ‒te` sdofb` ajst ljaajo dov`staòt prjgult jr

sleà` dovjbv`g do stkt` òhjrlàòt kltdjos‑ “ kog pr`gdlt`g k sdadbkr

prjbdh`rktdjo jh hrkug do jhh`rdofs uog`r ^`fubktdjo K. OK\KK B`tt`r (Akr. >7,

>9;7) (L^D 60) kt


80/86

80

!" (


81/86

88

dapbdlkt`g ny dt. Wekt kpprjkle eks n`ò r`c̀ lt`g ny teds Ljurt. Do Ka`rdlko

@qudty, te` Ljaadssdjo ekg kgjpt`g k rub` `xàptdof hdx`g dog`x`g kooudtd`s

hrja te` \`lurdtd`s Klt—s g`hdodtdjo jh ‒kooudty ljotrklts,‑ kog do dts \`ltdjo >(n)

kokbysds te` Ljaadssdjo lbkda`g tekt te` rub` wjubg òljurkf` ljap`tdtdjo ny

r`sjbvdof te` kooudtd`s— ‒uol`rtkdo r`fubktjry stktus.‑ \`` 8;< H..

We` Ljurt e`bg tekt te` Ljaadssdjo ‒lkoojt custdhy te` kgjptdjo jh k pkrtdlubkr

rub` nks`g sjb`by jo te` kss`rtdjo tekt te` `xdstòl` jh k rub` prjvdg`s fr`kt`r

lbkrdty tj ko kr`k tekt ràkdo`g uolb`kr do te` knsòl` jh koy rub`.‑ Dg. kt ;66-65.

\dadbkrby, te` Ljaadssdjo lkoojt gdslekrf` dts jnbdfktdjo do teds lks` tj kss`ss te`

rub`—s dapklt jo dov`stjr prjt`ltdjo sdapby ny r`ldtdof te` vkrdjus prjvdsdjos jh

te` rub` kog pjsdtdof tekt te`y ‒ljubg adtdfkt`‑ te` o`fktdv` dapklt jh stkt`

pr`àptdjo jo dov`stjr prjt`ltdjo. Wekt kpprjkle ds oj sunstdtut` hjr te` r`ksjo`g

kokbysds jh ljsts kog nò`hdts r`qudr`g uog`r \`ltdjo >(n). Yunbdl Ldtdzò, " (


82/86

86

^`fubktdjo K jhh`rdofs, dt hkdb`g tj sejw ejw `xdstdof stkt` kutejrdty kog te` rub`—s

prjvdsdjos adtdfkt` tejs` ljol`ros, jr `vò tj grkw koy ljrr`bktdjo n`tw`ò te`

twj. \`` 59 H`g. ^`f. kt >;,558-56. Hjr `xkapb`, te` Ljaadssdjo aòtdjo`g k

ljol`ro rkds`g ny akoy ljaaòt`rs3 te` bjss jh te` ‒mojwb`gf` jh bjlkb dssu`rs,

wedle ljubg e`bp do g`t`ltdof hrkug . . . ny sakbb, bjlkbdz`g dssu`rs.‑ Dg . kt >;,556.

T`t te` Kgjptdof ^`b`ks` ljapb`t`by hkdb`g tj kggr`ss ejw te` bdst`g adtdfktdof

hkltjrs adfet ka`bdjrkt` teds bjss. \dadbkrby, te` Ljaadssdjo klmojwb̀ gf`g te`

qukbdtktdv`by gdstdolt nò`hdts jh stkt` a`rdt-nks`g r`vd`ws, nut prjvdg`g oj

`vdgòl` jr rktdjokb` gàjostrktdof tekt koy jh te` adtdfktdof hkltjrs doljrpjrkt`s

sdadbkr prjt`ltdjos suhhdldòt tj custdhy ̀ bdadoktdof teds skh`fukrg. \`` dg. kt

>;,558-56. Dog``g, te` Ljaadssdjo hkdb`g tj ljosdg`r te` nò`hdts tj dov`stjr

prjt`ltdjo tekt wjubg n` khhjrg`g ny o`wby ljjrgdokt`g stkt` r`fubktdjo, kog

dost`kg kggr`ss`g joby te` p`rl`dv`g ljsts kog ljapb`xdty jh tekt ljjrgdokt`g

r`vd`w ‒weò ljapkr`g tj Ljaadssdjo r`vd`w kog qukbdhdlktdjo kbjo`.‑ Dg. kt

>;,556.

Knsòt sja` sejwdof tekt te` ldt`g hkltjrs wdbb kltukbby adtdfkt` te`

dgòtdhd`g ljsts jh pr`àptdjo, te` Ljaadssdjo—s kokbysds ljostdtut`s a`r`

sp`lubktdjo dosuhhdldòt tj sktdshy k \`ltdjo >(n) kokbysds. Do Nusdo`ss ^juogtknb ,̀

!"#$ #&'( )*+,**+- ./9;>(


83/86

85

te` Ljaadssdjo kokbyz`g te` `xp`os`s ko dssu`r wjubg dolur jppjsdof sekr`ejbg`r

ojado``s uog`r k gdr`ltjr `b`ltdjo a`lekodsa kog pjsdt`g tekt te`y adfet n`

bdadt`g n`lkus` gdr`ltjrs adfet jpt ojt tj jppjs` sule ojado``s hjr hdguldkry

r`ksjos. 876 H.


84/86

84

tekt te` lb`kr kog akodh`st purpjs` jh Ljofr`ss suppjrts dt. E`r`, Ljofr`ss

`xpr`ssby bdadt`g te` Ljaadssdjo—s kndbdty tj pr`àpt stkt` r`fdstrktdjo kog

qukbdhdlktdjo r`qudràòts tj joby tejs` dov`stjrs wdte suhhdldòt w`kbte, dolja`,

kog sjpedstdlktdjo tj prjt`lt teàs`bv`s do te` knsòl` jh tejs` r̀ qudràòts. We`

Ljaadssdjo—s hdokb rub` ljotrkvò`s tekt lb`kr Ljofr`ssdjokb dotòt kog pbkl`s

adbbdjos jh vubo`rknb` dov`stjrs do o``gb`ss c`jpkrgy. Hjr te`s` r`ksjos,

p`tdtdjo`rs r`qu`st tekt te` rub` n` vklkt`g kog te` Ljaadssdjo n` òcjdo`g hrja

òhjrldof dt.

^`sp`lthubby sunadtt`g,

AKP^K E@KB@T Kttjro`y Fò`rkb jh Aksskleus`tts

/s/ ^jn`rt @. Wjjo`^jn`rt @. Wjjo`

G.L. Ldrludt Nkr ^jbb Oj. 08;94\jjmyjuof \edoKssdstkot Kttjro`ys Fò`rkbJo` Ksenurtjo Ybkl`Njstjo, AK 9>;95-;045(8;6) 6>6->>99^jn`rt.WjjoÌstkt`.ak.us

Ljuos`b hjr Vdbbdka H. Fkbvdo, \`lr`tkry

jh te` Ljaajow`kbte jh Aksskleus`tts

!"#$ #&'( )*+,**+- ./9;>(


85/86

69

/s/ C`ss` BksbjvdleC`ss` Bksbjvdle

Odlm Akzko`l\p`ldkb Kssdstkot Ajotkok Kttjro`ys

Fò`rkb

579 E`bòk KvòuÈ`bòk, AW 0489;(798) 777->979

cbksbjvdle>Iat.fjvoakzko`lIat.fjv

Ljuos`b hjr Ajodlk C. Bdog`ò, Ajotkok

\tkt` Kugdtjr `x jhhdldj Ajotkok


Gkt`3 Kufust >8, >9;0

L@^WDHDLKW@ JH LJAYBDKOL@

D l`rtdhy tekt te` hjr`fjdof nrd`h ljapbd`s wdte te` typ`-vjbua` bdadtktdjo jh

H`g. ^. Kpp. Y. (k)(6)(N) n`lkus` dt ljotkdos ;


86/86

L@^WDHDLKW@ JH \@^XDL@

D l`rtdhy tekt te` knjv` gjlua`ot wdbb n` s`rv`g jo Kufust >8, >9;0, ny

`b`ltrjodl ojtdl` hjr r`fdst`r`g ljuos`b kog k ljpy wdbb n` s`rv`g ny hdrst-lbkss

akdb, pjstkf` pr`-pkdg, hjr ojo-r`fdst`r`g ljuos`b.

/s/ ^jn`rt @. Wjjo`^jn`rt @. Wjjo`

!"#$ #&'( )*+,**+- ./9;>(

massachusetts and montana filing against sec & regulation a+

Documents