Or. Admin. Code § 441-035-0010 - Accredited Investor
For purposes of ORS 59.035(5) accredited investor includes:
(1) Any
bank as defined in Section 3(a)(2) of the Securities Act of 1933 (the "Act"),
or any savings and loan association or other institution as defined in Section
3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity;
any broker or dealer registered pursuant to Section 15 of the Securities
Exchange Act of 1934; any insurance company as defined in Section 2(13) of the
Act; any investment company registered under the Investment Company Act of 1940
or a business development company as defined in Section 2(a)(48) of the
Investment Company Act of 1940; any small business investment company licensed
by the U.S. Small Business Administration under Section 301(c) or (d) of the
Small Business Investment Act of 1958; any plan established and maintained by a
state, its political subdivisions, or any agency or instrumentality of a state
or its political subdivisions for the benefit of its employees, if such plan
has total assets in excess of $5,000,000; any employee benefit plan within the
meaning of Title 1 of the Employee Retirement Income Security Act of 1974
("ERISA"), if the investment decision is made by a plan fiduciary, as defined
in Section 3(21) of ERISA, which is either a bank, savings and loan
association, insurance company, or registered investment adviser, or if the
employee benefit plan has total assets in excess of $5,000,000 or, if a
self-directed plan, with investment decisions made solely by persons that are
accredited investors.
(2) Any
private business development company as defined in Section 202(a)(22) of the
Investment Advisers Act of 1940.
(3) Any organization described in
Section 501(c)(3) of the Internal
Revenue Code, corporation, Massachusetts or similar business trust, or
partnership, not formed for the specific purpose of acquiring the securities
offered, with total assets in excess of $5,000,000.
(4) Any director, executive officer, or
general partner of the issuer of the securities being offered or sold or any
director, executive officer, or general partner of a general partner of that
issuer.
(5) Any natural person
whose individual net worth, or joint net worth with that person's spouse, at
the time of the purchase exceeds $1,000,000, excluding the value of the natural
investor's primary residence.
(6)
Any natural person who had an individual income in excess of $200,000 in each
of the two most recent years or joint income with that person's spouse in
excess of $300,000 in each of those years and has a reasonable expectation of
reaching the same income level in the current year.
(7) Any trust, with total assets in excess of
$5,000,000, not formed for the specific purpose of acquiring the securities
offered, whose purchase is directed by a sophisticated person as described in
17
CFR 230.506
(b)(2)(ii).
(8) Any entity in which all of the equity
owners are accredited investors.
Notes
Stat. Auth.: ORS 59.285
Stats. Implemented: ORS 59.035(5)
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