S.D. Admin. R. 20:08:07:43 - Transactional exemption from registration of issuers that comply with ongoing reporting requirements under Tier 2 of Regulation A

Secondary sales of securities of an issuer that previously sold securities in an offering qualified under Tier 2 of Regulation A are exempt provided that the issuer is subject to and current in it ongoing reporting requirements under 17 CFR § 230.257(b) at the time of the sale and complies with the terms of the exemption from registration in § 47-31B-202(2).


S.D. Admin. R. 20:08:07:43
47 SDR 068, effective 12/7/2020

General Authority: SDCL 47-31B-203, 47-31B-605.

Law Implemented: SDCL 47-31B-103, 47-31B-202(2).

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