S.D. Admin. R. 20:08:07:42

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:08:07:42 - Notice Filing Requirement for Regulation A - Tier 2 Offering

The following provisions apply to offerings made under Tier 2 of federal Regulation A and Section 18(b)(3) of the Securities Act of 1933:

(1) Initial Filing. An issuer planning to offer and sell securities in this state in an offering exempt under Tier 2 of federal Regulation A shall submit the following at least twenty-one calendar days prior to the initial sale in this state:

(a) A completed Regulation A - Tier 2 notice filing form or copies of all documents filed with the Securities and Exchange Commission;

(b) A consent to service of process on Form U-2 if not filing on the Regulation A - Tier 2 notice filing form; and

(c) The filing fee prescribed by SDCL 47-31B-302(e).

(2) The initial notice filing is effective for twelve months form the date of the filing with this state.

(3) Renewal. For each additional twelve-month period in which the same offering is continued, an issuer conducting a Tier 2 offering under federal Regulation A must renew its notice filing by filing the following on or before the expiration of the notice filing:

(a) The Regulation A - Tier 2 notice filing form marked "renewal";

(b) A cover letter requesting renewal; and

(c) The filing fee prescribed by SDCL 47-31B-302(e).

S.D. Admin. R. 20:08:07:42

44 SDR 99, effective 12/11/2017

General Authority: SDCL 47-31B-302, 47-31B-605.

Law Implemented: SDCL 47-31B-103, SDCL 47-31B-302.