Section 12.01.08.037 - REGISTRATION OF DEBT SECURITIESIn addition to the requirements contained in the NASAA Statement of Policy Regarding Debt Securities the issuer of debt securities will incorporate the following standards:
01.Suitability. In establishing standards of fairness and equity, the Department has established the following investor suitability guidelines for debt offerings registered under the Act: a. No more than ten percent (10%) of any one (1) Idaho investor's net worth (exclusive of home, home furnishings, and automobiles) shall be invested in the securities being registered with the Department; and eitherb. A gross income of forty-five thousand dollars ($45,000) and a net worth of forty-five thousand dollars ($45,000) (exclusive of home, home furnishings and automobiles); orc. A net worth of one hundred fifty thousand dollars ($150,000) (exclusive of home, home furnishings and automobiles).02.Department May Establish Standards. The suitability standard in Subsection 037.01 of this rule is a guideline. Higher or lower suitability standards may be established or may be required by the Department as a condition of registration.03.Standards To Be Disclosed. The suitability standards must be disclosed in the prospectus.Idaho Admin. Code r. 12.01.08.037