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2016 SESSION

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HB 1227 Securities Act; registration exemptions.

Introduced by: Glenn R. Davis | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Securities Act; registration exemptions. Establishes an exemption for any offer or sale of a security that is conducted in accordance with Tier 2 of federal Regulation A promulgated under § 3(b)(2) of the Securities Act of 1933. The exemption applies to the extent that such securities are preempted from state registration requirements pursuant to Tier 2 of federal Regulation A. The measure requires the State Corporation Commission (SCC) to prescribe any filings with it of notices, renewals, and other materials. The measure authorizes the SCC to assess a filing fee. The SCC is further required to provide information on its website regarding the differences between this exemption and the crowdfunding exemption enacted in 2015.

SUMMARY AS INTRODUCED:

Securities Act; registration exemptions. Establishes an exemption for any offer or sale of a security that is conducted in accordance with Tier 2 of federal Regulation A promulgated under § 3(b)(2) of the Securities Act of 1933. The measure requires the State Corporation Commission (SCC) to prescribe any filings with it of notices, renewals, and other materials. The measure authorizes the SCC to assess a filing fee. The SCC is further required to provide information on its website regarding the differences between this exemption and the crowdfunding exemption enacted in 2015.