Tenn. Comp. R. & Regs. 0780-04-02-.15 - BANK HOLDING COMPANY EXEMPTION

(1) All persons offering securities claimed to be exempt under T.C.A. § 48-1-103(a)(12) shall, at least ten (10) days prior to any sale of such securities, file a notice on Form U-1 (including all applicable exhibits thereto) accompanied by the following additional information:

(a) The filing fee as set forth in T.C.A. § 48-1-103(a)(12);

(b) Proof of registration with the federal reserve board;

(c) A copy of the registration statement filed with the SEC, if applicable;

(d) Proof of consent to service of process as set forth in T.C.A. § 48-1-124;

(e) Copies of all advertising or other material to be distributed in connection with the offering; and

(f) Any additional information or documentation that the commissioner may require.

(2) Effective Period. Each offering shall be effective for a period of one (1) year from the date of effectiveness.

(3) Amendments. During the effective period, the issuer shall concurrently file with the commissioner any amendments filed with the SEC, if applicable.

(4) Renewal. The offering may be renewed for an additional period of one (1) year by filing the notification requirements of T.C.A. § 48-1-103(a)(12) and this Rule, including the appropriate filing fee, no later than ten (10) days prior to the expiration of effectiveness.

Notes

Tenn. Comp. R. & Regs. 0780-04-02-.15

Original rule filed April 5, 2004; effective June 19, 2004. Repeal and new rule filed March 16, 2015; effective June 14, 2015. Amendments filed August 14, 2017; effective 11/12/2017.

Authority: T.C.A. §§ 48-1-103(a)(12), 48-1-103(b)(10), 48-1-113, 48-1-115, 48-1-116, and 48-1-124.