Effective 28 Aug 1985

409.840. Application of sections 409.803, 409.808, 409.810, offers to sell, buy — where deemed made. — 1. Sections 409.803, 409.808 and 409.810 apply to persons who:

(1) Sell or offer to sell when:

(a) An offer to sell is made in this state; or

(b) An offer to buy is made and accepted in this state;

(2) Buy or offer to buy when:

(a) An offer to buy is made in this state; or

(b) An offer to sell is made and accepted in this state.

2. For the purpose of this section:

(1) An offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer:

(a) Originates from this state; or

(b) Is directed by the offeror to this state and received at the place to which it is directed, or at any post office in this state in the case of a mailed offer;

(2) An offer to buy or to sell is accepted in this state when acceptance:

(a) Is communicated to the offeror in this state; and

(b) Has not previously been communicated to the offeror, whether or not either party is then present in this state, when the offeree directs it to the offeror in this state reasonably believing the offeror to be in this state and it is received at the place to which it is directed, or at any post office in this state in the case of a mailed acceptance;

(3) An offer to sell or to buy is not made in this state when the publisher circulates, or there is circulated on his behalf, in this state, any bona fide newspaper or other publication of general, regular, and paid circulation:

(a) Which is not published in this state; or

(b) Which is published in this state, but has had more than two-thirds of its circulation outside this state during the past twelve months.

­­For the purpose of this subdivision, when a publication is published in editions, each edition shall be considered a separate publication except for material common to all editions;

(4) An offer to sell or to buy is not made in this state when a radio or television program or other electronic communication originating outside this state is received in this state. A radio or television program or other electronic communication shall be considered having originated from this state if either the broadcast studio or means of transmission is located within this state, unless:

(a) The program or communication is syndicated and distributed from outside this state for redistribution to the general public in this state;

(b) The program or communication is supplied by a radio, television, or other electronic network with the electronic signal originating from outside this state for redistribution to the general public in this state;

(c) The program or communication is an electronic signal that originates outside this state and is captured for redistribution to the general public in this state by a community antenna or cable radio, television, or other electronic system; or

(d) The program or communication consists of an electronic signal which originates from within this state, but which is not intended for redistribution to the general public in this state. This subdivision shall not apply to any changes, alterations or additions made locally to a radio or television program or other electronic communications.

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(L. 1985 H.B. 409 & 532 § 17)