Current through Register Vol. 41, No. 25, June 23, 2022
nonissuer transaction" under K.S.A. 17-12a202(1), and amendments thereto, shall
mean an offer or sale of a security that meets both of the following
(1) No 12-month period in which
the date of the sale can be included contains more than three sales of the
security in Kansas by the seller or affiliates.
(2) No person offers or sells the security by
means of a general solicitation, except as permitted under subsection (c).
(b) For purposes of
this regulation, a husband and wife shall be considered as one purchaser. A
corporation, partnership, limited liability company, association, joint stock
company, trust, or unincorporated organization shall be considered as one
purchaser unless the entity was organized for the purpose of acquiring the
purchased securities. If that is the case, each beneficial owner of equity
interest or equity securities in the entity shall be considered a separate
(c) For purposes of
this regulation, if an offer or sale is conducted through an issuer-controlled
trading system maintained in an electronic form or another form for the purpose
of facilitating trades of that issuer's securities between nonissuers, the
offer or sale shall not be considered to have been made by general
Kan. Admin. Regs. § 81-5-3
Authorized by K.S.A. 2005
Supp. 17-12a605(a); implementing K.S.A 2005 Supp. 17-12a202, as amended by L.
2006, Ch. 47, § 2(1); effective, T-83-40, Nov. 23, 1982; effective May 1,
1983; amended, T-87-41, Dec. 8, 1986; amended May 1, 1987; amended June 28,
1993; amended May 31, 1996; amended Jan. 19, 2007.