Mo. Code Regs. tit. 15 § 30-54.070
Current through Register Vol. 49, No. 11, June 3, 2024
Section 15 CSR 30-54.070 - Not-for-Profit SecuritiesPURPOSE: This rule adopts a new rule that complies with the Missouri Securities Act of 2003 and that describes the terms and conditions of the request for exemption authorization under section 409.2-201(7)(B) of the Missouri Securities Act of 2003 that became effective September 1, 2003.
PUBLISHER'S NOTE: The secretary of state has determined that the publication of the entire text of the material which is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. This material as incorporated by reference in this rule shall be maintained by the agency at its headquarters and shall be made available to the public for inspection and copying at no more than the actual cost of reproduction. This note applies only to the reference material. The entire text of the rule is printed here.
(1) The Securities Division will apply the applicable statement of policy adopted by the North American Securities Administrators Association, Inc. (NASAA) as listed in section (2) below when reviewing requests for exemption authorization pursuant to section 409.2-201(7)(B) of the Missouri Securities Act of 2003 (the Act).(2) The following statements of policy are hereby incorporated by reference:(A) Church Bonds as adopted by NASAA on April 14, 2002; and(3) Cross-Reference Sheet. If requested by the Securities Division, a request for exemption authorization shall include a cross-reference table to indicate compliance with, or deviation from, the various sections of the applicable NASAA statement of policy.(4) Documents. The request for exemption shall include the documents listed in section II.A.3, of the NASAA Statement of Policy Regarding Church Bonds.(5) Sales Literature. All sales and advertising literature shall be filed with the Securities Division prior to use and shall comply with the applicable NASAA statement of policy.(6) Filing Fee. Each request for exemption under section 409.2-201(7)(B), RSMo shall include a filing fee of one hundred dollars ($100) as specified in Missouri regulation 15 CSR 30-50.030.(7) Effective Period. The securities that qualify for the exemption under section 409.2-201(7)(B), RSMo are exempt when ordered by the commissioner. The exemption is effective for one (1) year from the date that the securities were ordered to be exempt by the commissioner.(8) Renewal. If the securities offering is not completed during the effective period, an issuer can renew the exemption by submitting to the commissioner a written request for renewal that includes any amendments to any documents filed with the request for the exemption and a fee of one hundred dollars ($100). The renewal must be filed with the commissioner within thirty (30) days before the end of the one (1) year effective date. With each renewal, the commissioner may require a cross-reference sheet to demonstrate compliance with the applicable NASAA statement of policy. AUTHORITY: sections 409.2-201(7)(B) and 409.6-605, RSMo Supp.2013. Original rule filed June 25, 1968, effective Aug. 1, 1968. For intervening history, please consult the Code of State Regulations. Amended: Filed Dec. 3, 2013, effective July 31, 2014.