Rule 590-4-2-.02 - Federal Covered Security Notice Filing Requirement for Offerings Pursuant to Rule 506(1) An issuer of a federal covered security under Section 18(b)(4)(D) of the Securities Act of 1933, that is not otherwise exempt under Sections 10-5-10 through 10-5-12 of the Act, is required to submit a notice filing pursuant to subsection (2) hereof not later than fifteen (15) days after the first sale of the federal covered security in this State or the first Business Day following the fifteenth (15th) day after the first sale of the federal covered security in this State if the fifteenth (15th) day is not a Business Day.(2) Each required notice filing under this Rule shall include the following: (a) A copy of the most recently filed Form D as filed with the SEC; and(b) Payment of a non-refundable fee of $250.00.(3) The notice filing and fees required by this Rule may be made electronically as permitted by the Commissioner.(4) This Rule shall apply to all Offerings in which any sale is made within, or to any person in, the State of Georgia on or after the thirtieth (30th) day following the date of adoption hereof.(5) Nothing in this exemption is intended to or should be construed as in any way relieving issuers or persons acting on behalf of issuers from providing disclosure to prospective investors adequate to satisfy the antifraud provisions of Section 10-5-50 of the Act in view of the objective of this section, and the purposes and policies underlying the Act.(6) Nothing in this section is intended to relieve broker-dealers or agents from due diligence, suitability, or "know your customer" standards or any other requirements of law otherwise applicable to these persons.Ga. Comp. R. & Regs. R. 590-4-2-.02
O.C.G.A. Secs. 10-5-10, 10-5-21, 10-5-50, 10-5-74, 10-5-80.
Original Rule entitled "Sales Commissions" adopted. F. and eff. July 19, 1965.Amended: ER. 590-4-2-0.5-.02 entitled "Records" adopted. F. and eff. April 1, 1974, the date of adoption.Amended: Permanent Rule of same title adopted. F. July 5, 1974; eff. July 25, 1974.Repealed: New Rule entitled "Use of Uniform Application Forms" adopted. F. Dec. 9, 1980; eff. Dec. 29, 1980.Repealed: New Rule entitled "Uniformity" adopted. F. Apr. 13, 1983; eff. May 3, 1983.Repealed: New Rule entitled "Central Registration Depository" adopted. F. Jan. 16, 1984; eff. Feb. 5, 1984.Amended: F. Feb. 24, 1987; eff. Mar. 16, 1987.Repealed: New Rule of same title adopted. F. Dec. 21, 2004; eff. Jan. 10, 2005.Repealed: New Rule entitled "Federal Covered Security Notice Filing Requirement for Offering Pursuant to Rule 506" adopted. F. Nov. 18, 2011, Dec. 8, 2011.