2023 Tennessee Code › Title 48 - CORPORATIONS AND ASSOCIATIONS (§§ 48-1-101 — 48-250-115) › SECURITIES (§§ 48-1-101 — 48-1-201) › Chapter 1 - SECURITIES (§§ 48-1-101 — 48-1-201) › Part 1 - TENNESSEE SECURITIES ACT OF 1980 (§§ 48-1-101 — 48-1-128) › Section 48-1-126 - Exemptions from notice filing and fee requirements

Notwithstanding §
48-1-125(a)(1)(A)(i) and (ii)
, the following covered securities are exempt from the notice filing and fee requirements set forth in §
48-1-125
:
(1)
Any covered security sold to an institutional investor, as defined under §
48-1-102
;
(2)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal securities registration pursuant to § 3(a)(2) of the Securities Act of 1933;
(3)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal securities registration pursuant to § 3(a)(3) of the Securities Act of 1933;
(4)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal securities registration pursuant to § 3(a)(5) of the Securities Act of 1933;
(5)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal securities registration pursuant to § 3(a)(6) of the Securities Act of 1933;
(6)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal securities registration pursuant to § 3(a)(7) of the Securities Act of 1933;
(7)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is sold in a transaction exempt from federal registration pursuant to § 3(a)(9) of the Securities Act of 1933;
(8)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is sold in a transaction exempt from federal registration pursuant to § 3(a)(10) of the Securities Act of 1933;
(9)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal registration pursuant to § 3(a)(12) of the Securities Act of 1933;
(10)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is exempt from federal registration pursuant to § 3(a)(13) of the Securities Act of 1933;
(11)
Any security that is defined to be a covered security pursuant to §
48-1-102
and is determined, by rule or order of the commissioner, that such notice filing is not necessary for the protection of investors;
(12)
Any security issued by a unit investment trust that is registered under the federal Investment Company Act of 1940 (
15 U.S.C. § 80a-1
et seq.), as amended, if:
(A)
The units have been the subject of a previous notice filing and fee under this part and have been sold;
(B)
The units are offered or sold by a broker-dealer registered under this part; and
(C)
The units are sold by or on behalf of a sponsor or depositor of the unit investment trust or affiliate of the sponsor or depositor; and
(13)
Any security that is defined to be a covered security pursuant to § 18(b)(1) of the Securities Act of 1933, or will be such a covered security upon completion of the transaction.
Amended by 2017 Tenn. Acts, ch. 424,s 47, eff. 5/18/2017.
Acts 1999, ch. 74, § 2; 2010, ch. 697, § 5; T.C.A., § 48-2-126.