Sec. 38. (a) Sections 17, 23, and 24 of this chapter apply to a person who sells or offers to sell if:

(1) the offer to sell is made in Indiana; or

(2) an offer to buy is made and accepted in Indiana.

(b) Sections 17, 23, and 24 of this chapter apply to a person who buys or offers to buy if:

(1) the offer to buy is made in Indiana; or

(2) an offer to sell is made and accepted in Indiana.

(c) For purposes of this section:

(1) an offer to sell or an offer to buy is made in Indiana, whether or not any party is present in Indiana, if the offer:

(A) originates from Indiana; or

(B) is directed by the offeror to Indiana and is received at:

(i) the place to which the offer is directed; or

(ii) any post office in Indiana, in the case of a mailed offer; and

(2) an offer to sell or to buy is accepted in Indiana if the acceptance:

(A) is communicated to the offeror in Indiana; and

(B) has not previously been communicated to the offeror, orally or in writing, outside Indiana.

(d) For purposes of this section, acceptance is communicated to an offeror in Indiana, whether or not any party is then present in Indiana, if:

(1) the offeree:

(A) directs the acceptance to the offeror in Indiana; and

(B) reasonably believes that the offeror is present in Indiana; and

(2) the acceptance is received at:

(A) the place to which the acceptance is directed; or

(B) any post office in Indiana, in the case of a mailed acceptance.

(e) For purposes of this section, an offer to sell or to buy is not made in Indiana if:

(1) a publisher circulates in Indiana, or there is circulated in Indiana on the behalf of the publisher, a newspaper or other publication of general, regular, and paid circulation that:

(A) is not published in Indiana; or

(B) is published in Indiana, but has had more than two-thirds (2/3) of the newspaper's circulation outside Indiana during the past twelve (12) months; or

(2) a newspaper or a radio or television program originating outside Indiana is received in Indiana.

As added by P.L.177-1991, SEC.10.