Md. Code Regs. 02.02.04.03 - Existing Security Holder Exemption
A. Transactions involving existing security holders pursuant to the Maryland Securities Act, Corporations and Associations Article, §
11-602(11)(ii), Annotated Code of Maryland, shall be deemed exempt transactions if the following conditions are satisfied:
(1) The issuer shall notify the Commissioner in writing at least 5 business days before the offer or sale in this State. The notification shall include the following information:
(a) Name, address, and telephone number of the issuer;
(b) Name, address, telephone number, and CRD number, if applicable, of any entity or individual receiving any commission or remuneration in connection with the offer or sale of the securities; and
(c) A description of the terms of the offering.
(2) The issuer shall pay the filing fee required by the Maryland Securities Act, Corporations and Associations Article, §
11-506(b), Annotated Code of Maryland.
B. The exemption for an offering made pursuant to this exemption shall be effective for 1 year from the date that the notification filing is accepted by the Commissioner. The exemption may be extended for successive 1-year periods by complying with the provisions of §A of this regulation.
Notes
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