44-1902. Power of the commission to register certain securities by uniform limited offering registration
A. In accordance with rules adopted by the commission, the commission may register under this article certain securities in an aggregate amount not exceeding five million dollars in any twelve month period.
B. The rules adopted by the commission pursuant to subsection A of this section shall include:
1. That the issuer shall submit a completed small company offering registration form as adopted by the North American securities administrators association, inc., or other disclosure document as prescribed by the commission.
2. That the offering is not a blind pool offering.
3. That the issuer is not an investment company subject to the investment company act of 1940.
4. That the issuer is not subject to the reporting requirements of section 13 or section 15(d) of the securities exchange act of 1934.
5. That the issuer of debt offerings can demonstrate ability to service its debt.
6. That the application for a uniform limited offering registration is accompanied by a nonrefundable fee as provided in section 44-1861.
7. That financial statements and other financial information, if any, required for registration shall be prepared in the manner prescribed in the rules adopted by the commission pursuant to subsection A of this section, notwithstanding any other provision of this chapter.
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