3 AAC 08.503. Registration and reporting of "Regulation D" offerings

(a) An applicant registering under the provisions of 3 AAC 08.500 - 3 AAC 08.540 is only required to file the registration statement on State of Alaska Form 08-101, any items required by the registration statement, any items requested by the staff, and the fee required by in 3 AAC 08.920(a) (5). If additional documents, including the offering documents, are filed with the administrator, the administrator will treat the filing as an application for registration by qualification.

(b) Sales of an offering registered under 3 AAC 08.500 - 3 AAC 08.505 may be made only by a broker-dealer and salesperson registered under this chapter or by other persons exempted from registration by AS 45.55 or this chapter.

(c) Notwithstanding the requirements of (b) of this section, an issuer or sponsor of an issuer to be formed may register up to five salespersons as agents who are exempt from the examination requirement of 3 AAC 08.011(h) (2). To register an agent, the issuer or sponsor of an issuer must file an application for registration in accordance with 3 AAC 08.011(h) (1) and pay a fee in accordance with 3 AAC 08.015(a) (1)(B). A salesperson may not be registered to more than one person at a time without complying with the dual registration provisions of 3 AAC 08.010(e) - (f).

(d) The registrant shall, for three years after the closing of the offering, maintain and keep open for inspection by the administrator or his designee inside or outside of this state

(1) all offering materials;

(2) records relating to purchaser representatives used, and materials and data relied upon to determine the qualifications of the purchaser representatives;

(3) records relating to purchasers, and materials and data relied upon to determine the qualifications of the purchasers;

(4) records relating to securities sales after the closing of the offering, that are considered as part of the offering; and

(5) all offering materials used in connection with offerings registered under 3 AAC 08.500 - 3 AAC 08.505.

(e) The administrator will, in the administrator's discretion, modify or waive any requirement in 3 AAC 08.500 - 3 AAC 08.505. An applicant for waiver must prove that the action requested is consistent with AS 45.55, and that the investors are otherwise adequately protected.

History: Eff. 5/24/84, Register 90; am 9/8/91, Register 119; am 10/1/99, Register 151; am 4/19/2000, Register 154

Authority: AS 45.55.110

AS 45.55.950

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