3 AAC 08.640. Registration and reporting for small corporate offerings

(a) The issuer shall pay a registration and filing fee as provided in 3 AAC 08.920(a) (5) for the registration of the offering under NASAA Form U-7.

(b) An issuer may register up to five salespersons as agents of the issuer who are exempt from the examination requirement of 3 AAC 08.011(h) (2). To register an agent, the 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 issuer at a time without compliance with the dual registration provisions of 3 AAC 08.010(e) - (f).

(c) For three years after the close of the offering, the issuer shall maintain and keep open for inspection by the administrator all

(1) offering materials;

(2) records relating to purchasers; and

(3) records relating to securities sales following the close of the offering that are considered as part of the offering.

History: Eff. 9/18/91, Register 119; am 10/1/99, Register 151; am 4/19/2000, Register 154

Authority: AS 45.55.110

AS 45.55.915

AS 45.55.950

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