Mont. Admin. r. 6.10.303 - SECOND TIER LIMITED OFFERING EXEMPTION
(1) Pursuant to
30-10-105(8)(b),
MCA, securities offered or sold in accordance with all the conditions set forth
in this rule are exempt from the requirements of
30-10-201
through
30-10-207,
MCA. This exemption may be cited as the "second tier limited offering
exemption."
(2) An issuer using the
second tier limited offering exemption shall file with the Commissioner of
Securities:
(a) an original, manually signed
copy of the second tier limited offering exemption form;
(b) a consent to service of process which is
attached to and made part of the second tier limited offering exemption form;
and
(c) such other information as
the Commissioner of Securities may require.
(3) Upon the entry of an order denying or
revoking the approval of this exemption, the Commissioner of Securities shall
promptly notify the issuer of the securities that an order has been entered and
of the reasons therefore and that, if requested by the issuer within 15 days
after the receipt of the Commissioner of Securities order, the matter will be
promptly set down for hearing. If no hearing is requested within 15 days, and
none is ordered by the Commissioner of Securities, the order will remain in
effect until it is modified or vacated by the Commissioner of Securities. If a
hearing is requested or ordered, the Commissioner of Securities, after notice
of and opportunity for hearing, may affirm, modify, or vacate the
order.
Notes
AUTH: 30-10-107, MCA; IMP: 30-10-105, MCA
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