This chapter shall be applicable to the principals of any entity performing any activity regulated by this chapter and to their agents and employees, and to persons forming a partnership for the purpose of engaging in any activity subject to regulation by this chapter. Every dealer regulated hereunder shall be liable for all the penalties provided herein for violation for any provision of this chapter, whether such violation be committed by himself or his agent, clerk or employee. (1952 Code § 5-20-02)