17 CFR 230.506 - Exemption for limited offers and sales without regard to dollar amount of offering.

Status message

There are 3 Updates appearing in the Federal Register for 17 CFR 230. View below or at eCFR (GPOAccess)
§ 230.506 Exemption for limited offers and sales without regard to dollar amount of offering.
(a) Exemption. Offers and sales of securities by an issuer that satisfy the conditions in paragraph (b) of this section shall be deemed to be transactions not involving any public offering within the meaning of section 4(2) of the Act.
(b) Conditions to be met—
(1) General conditions. To qualify for an exemption under this section, offers and sales must satisfy all the terms and conditions of §§ 230.501 and 230.502.
(2) Specific conditions—
(i) Limitation on number of purchasers. There are no more than or the issuer reasonably believes that there are no more than 35 purchasers of securities from the issuer in any offering under this section.
Note:
See § 230.501(e) for the calculation of the number of purchasers and § 230.502(a) for what may or may not constitute an offering under this section.
(ii) Nature of purchasers. Each purchaser who is not an accredited investor either alone or with his purchaser representative(s) has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment, or the issuer reasonably believes immediately prior to making any sale that such purchaser comes within this description.
[47 FR 11262, Mar. 6, 1982, as amended at 54 FR 11373, Mar. 20, 1989]

Title 17 published on 2014-04-01

The following are only the Rules published in the Federal Register after the published date of Title 17.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-09-30; vol. 79 # 189 - Tuesday, September 30, 2014
    1. 79 FR - Asset-Backed Securities Disclosure and Registration
      GPO FDSys XML | Text
      SECURITIES AND EXCHANGE COMMISSION
      17 CFR Parts 229, 230, 232, 239, 240, 243, and 249

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
Statutes at Large

Title 17 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR 230 after this date.

  • 2014-09-30; vol. 79 # 189 - Tuesday, September 30, 2014
    1. 79 FR - Asset-Backed Securities Disclosure and Registration
      GPO FDSys XML | Text
      SECURITIES AND EXCHANGE COMMISSION
      17 CFR Parts 229, 230, 232, 239, 240, 243, and 249