A. With respect to a federal covered security, as defined in Section 18(b)(2) of the Securities Act of 1933, 15 U.S.C. Section 77r(b)(2), that is not otherwise exempt under Sections 1-201 through 1-203 of this title, the issuer shall file a notice with the Administrator prior to an offer in this state. A separate notice shall be filed for each class of an issuer's securities offered in this state. Each notice shall be for an indefinite amount of securities. A notice, or renewal thereof, shall be accompanied by the filing fee set forth in Section 1-612 of this title. The Administrator may, by rule or order, prescribe notice filing and renewal requirements, and the requirements for filing of reports of the dollar amount of securities sold or offered to be sold to persons located in this state.

B. A notice filing under subsection A of this section is effective for one (1) year commencing on the later of the notice filing or the effectiveness of the offering filed with the Securities and Exchange Commission. On or before expiration, the issuer may renew a notice filing by filing a copy of those records filed by the issuer with the Securities and Exchange Commission that are required by rule or order under this act to be filed and by paying a renewal fee as provided in Section 1-612 of this title. A previously filed consent to service of process complying with Section 1-611 of this title may be incorporated by reference in a renewal. A renewed notice filing becomes effective upon the expiration of the filing being renewed.

C. 1. With respect to a security that is a federal covered security under Section 18(b)(4)(E) of the Securities Act of 1933, 15 U.S.C. Section 77r(b)(4)(E), a rule under this act may require a notice filing by or on behalf of an issuer as allowed by applicable federal law.

2. With respect to a security that is a federal covered security under Section 18(b)(3) or Section 18(b)(4)(D)(ii) of the Securities Act of 1933, 15 U.S.C. Sections 77r(b)(3) and 77r(b)(4)(D)(ii), a rule under this act may require a notice filing by or on behalf of an issuer as allowed by applicable federal law.

D. Except with respect to a federal covered security under Section 18(b)(1) of the Securities Act of 1933, 15 U.S.C. Section 77r(b)(1), if the Administrator finds that there is a failure to comply with a notice or fee requirement of this section, the Administrator may issue a stop order suspending the offer and sale of a federal covered security in this state. If the deficiency is corrected, the stop order is void as of the time of its issuance and no penalty may be imposed by the Administrator.

Added by Laws 2003, c. 347, § 11, eff. July 1, 2004. Amended by Laws 2016, c. 107, § 1, eff. Nov. 1, 2016.