PURPOSE: This rule adopts a new rule that complies
with the Missouri Securities Act of 2003 and that describes the terms and
conditions of the request for exemption authorization under section
409.2-201(7)(B)
of the Missouri Securities Act of 2003 that became effective September 1,
2003.
PUBLISHER'S NOTE: The secretary of state has
determined that the publication of the entire text of the material which is
incorporated by reference as a portion of this rule would be unduly cumbersome
or expensive. This material as incorporated by reference in this rule shall be
maintained by the agency at its headquarters and shall be made available to the
public for inspection and copying at no more than the actual cost of
reproduction. This note applies only to the reference material. The entire text
of the rule is printed here.
(1) The Securities Division will apply the
applicable statement of policy adopted by the North American Securities
Administrators Association, Inc. (NASAA) as listed in section (2) below when
reviewing requests for exemption authorization pursuant to section
409.2-201(7)(B)
of the Missouri Securities Act of 2003 (the Act).
(2) The following statements of policy are
hereby incorporated by reference:
(A) Church
Bonds as adopted by NASAA on April 14, 2002; and
(3)
Cross-Reference Sheet. If requested by the Securities Division, a request for
exemption authorization shall include a cross-reference table to indicate
compliance with, or deviation from, the various sections of the applicable
NASAA statement of policy.
(4)
Documents. The request for exemption shall include the documents listed in
section II.A.3, of the NASAA Statement of Policy Regarding Church
Bonds.
(5) Sales Literature. All
sales and advertising literature shall be filed with the Securities Division
prior to use and shall comply with the applicable NASAA statement of
policy.
(6) Filing Fee. Each
request for exemption under section
409.2-201(7)(B),
RSMo shall include a filing fee of one hundred dollars ($100) as specified in
Missouri regulation
15 CSR 30-50.030.
(7) Effective Period. The securities that
qualify for the exemption under section
409.2-201(7)(B),
RSMo are exempt when ordered by the commissioner. The exemption is effective
for one (1) year from the date that the securities were ordered to be exempt by
the commissioner.
(8) Renewal. If
the securities offering is not completed during the effective period, an issuer
can renew the exemption by submitting to the commissioner a written request for
renewal that includes any amendments to any documents filed with the request
for the exemption and a fee of one hundred dollars ($100). The renewal must be
filed with the commissioner within thirty (30) days before the end of the one
(1) year effective date. With each renewal, the commissioner may require a
cross-reference sheet to demonstrate compliance with the applicable NASAA
statement of policy.
Notes
15 CSR 30-54.070
AUTHORITY: sections
409.2-201(7)(B)
and
409.6-605,
RSMo Supp.2013. Original rule filed June 25, 1968, effective Aug. 1, 1968. For
intervening history, please consult the Code of State Regulations. Amended:
Filed Dec. 3, 2013, effective July 31,
2014.