N.M. Admin. Code § 12.11.12.13

Current through Register Vol. 35, No. 21, November 5, 2024

Section 12.11.12.13 - SECTION 58-13C-202O - EXISTING SECURITY HOLDERS EXEMPTION:

A. The exemption contained in Subsection O of Section 58-13C-202 shall only be available for the offer and sale of equity securities where an offer is made pro rata to all such security holders of record who are residents of this state.

B. As used in Subsection O of Section 58-13C-202:

(1) the term "security holder" shall not include persons who are holders of equity securities issued in violation of or without compliance with the New Mexico Uniform Securities Act and the rules and regulations adopted thereunder; and

(2) the term "standby commission" shall mean the commission payable to a broker-dealer registered under the New Mexico Uniform Securities Act for its firm commitment to purchase all securities offered to existing security holders which are not purchased by such security holders.

N.M. Admin. Code § 12.11.12.13

12.11.12.13 NMAC - Rp, 12.11.12.15 NMAC, 1-1-2010