reglab/statecodes huggingface dataset:
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.04 - RULES PURSUANT TO THE IDAHO CREDIT UNION ACT › Section 12.01.04.020 - SERVICES, ADVERTISING, REPORTING CRIMES, BONDS

Current through August 31, 2023
01.
Credit Union Services
. (3-31-22)
a. A credit union shall not allow, by
			 contract or otherwise, any credit union bookkeeping or record keeping services
			 for itself, whether on or off premises, unless assurances satisfactory to the
			 Director are provided by both the credit union and the party performing such
			 services, which indicate that the performance thereof will be subject to rule
			 and examination by the Director or his duly authorized representative to the
			 same extent as if such services were being performed by the credit union itself
			 on its own premises. If this service is "on premises" then prior written
			 approval of the Director must be obtained before service is sold or otherwise
			 made available to any outside customer. (3-31-22)
b. The assurances referred to above shall be
			 submitted prior to the time the contract or agreement becomes effective in the
			 form of letters from both parties and signed by a duly authorized officer of
			 the credit union and by the party, or duly authorized officer or representative
			 of such party, stating they will perform the services for the credit union,
			 that the credit union and the party performing such services have entered into
			 an agreement, that the performance of the services will be subject to rule and
			 examination by the Director, and that such performance of services will be made
			 available for examination. A copy of the contract or agreement covering these
			 services shall accompany these letters. (3-31-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.04 - RULES PURSUANT TO THE IDAHO CREDIT UNION ACT › Section 12.01.04.040 - MEMBER BUSINESS LOANS

Current through August 31, 2023
01.
Definitions
. For the purposes of this rule, the following
			 definitions apply: (3-31-22)
a. The term
			 "member business loan" means any loan, line of credit, or letter of credit, the
			 proceeds of which will be used for a commercial, business, or agricultural
			 purpose, except the following are not considered member business loans for the
			 purpose of this rule: (3-31-22)
i. A loan or
			 loans fully secured by a lien on a one to four family dwelling that is either
			 the member's primary residence, or the member's secondary residence.
			 (3-31-22)
ii. A loan that is fully
			 secured by shares in the credit union or deposits in other financial
			 institutions. (3-31-22)
iii. A
			 loan, the proceeds of which are used for a commercial, business, or
			 agricultural purpose, made to a borrower or an associated member, which, when
			 added to such other loans to the borrower, is less than fifteen thousand
			 dollars ($15,000). (3-31-22)
iv. A
			 loan, the repayment of which is fully insured or fully guaranteed by, or where
			 there is an advance commitment to purchase in full by, an agency of the federal
			 government or a state or any of its political subdivisions.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.04 - RULES PURSUANT TO THE IDAHO CREDIT UNION ACT › Section 12.01.04.050 - NONPREFERENTIAL TREATMENT

Current through August 31, 2023
01.
Nonpreferential Treatment
. The rates, terms, and conditions on any
			 loan or line of credit either made to, or endorsed or guaranteed by: (3-31-22)
a. An official; (3-31-22)
b. An immediate family member of an official;
			 or (3-31-22)
c. Any individual
			 having a common ownership, investment, or other pecuniary interest in a
			 business enterprise with an official or with an immediate family member of an
			 official, cannot be more favorable than the rates, terms, and conditions for
			 comparable loans or lines of credit to other credit union members. "Official"
			 means any member of the board of directors, credit committee, or supervisory
			 committee. "Immediate family member" means a spouse or other family members,
			 related by blood or operation of law, living in the same household.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.04 - RULES PURSUANT TO THE IDAHO CREDIT UNION ACT › Section 12.01.04.060 - PROHIBITED FEES, COMMISSIONS, COMPENSATION

Current through August 31, 2023
A credit union may not make any loan or extend any line of
				credit if, either directly or indirectly, any commission, fee, or other
				compensation is to be received by the credit union's directors, committee
				members, senior management employees, loan officers, or any immediate family
				members of such individuals, in connection with underwriting, insuring,
				servicing, or collecting the loan or line of credit. However, salary for
				employees is not prohibited by this section. "Senior management employees"
				refers to those employees described in Subsection
				040.03 of these rules.
				"Immediate family member" means a spouse, or other family members, related by
				blood or operation of law, living in the same household. (3-31-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.001 - SCOPE

Current through August 31, 2023
These rules relate to the offer and sale of securities and the
				giving of investment advice in the state of Idaho by licensed individuals and
				others. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.004 - SECURITIES EXEMPTIONS, OPINIONS, AND NO-ACTION LETTERS

Current through August 31, 2023
Interpretative Opinions. The Administrator, in his discretion,
				may honor requests from interested persons for formal interpretive opinions and
				no-action positions, including consideration of waivers, relating to an actual
				specific factual circumstance where appropriate and in the public interest, on
				the basis of facts stated and submitted in writing, with respect to the
				provisions of the Act or any rule or statement of policy adopted thereunder,
				provided such requests satisfy and conform to the following requirements:
				(3-23-22)
01.
Written
			 Requests
. Such requests shall be in writing and include or be
			 accompanied by all information and material required by any statute, rule or
			 statement of policy under which an exception or exemption may be claimed,
			 including but not limited to, copies of prospectuses or offering circulars if
			 applicable or appropriate. (3-23-22)
02.
Narrative
. The letter should
			 contain a brief narrative of the fact situation and should set out all of the
			 facts necessary to reach a conclusion in the matter; however, such narratives
			 should be concise and to the point. (3-23-22)
03.
Hypotheticals Not
			 Considered
. The names of the company or companies, organization or
			 organizations and all other persons involved should be stated and should relate
			 and be limited to a particular factual circumstance. Letters relating to
			 hypothetical situations will not warrant a formal response. (3-23-22)
04.
Fee
. Each request for a
			 no-action position or interpretive opinion letter shall be accompanied by
			 payment of a fee in the amount of fifty dollars ($50). (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.005 - INCORPORATION BY REFERENCE

Current through August 31, 2023
01.
Incorporated Documents
. IDAPA 12.01.08, "Rules Pursuant to the
			 Uniform Securities Act (2004)," adopts and incorporates by reference the full
			 text of the following Statements of Policy and guidelines adopted by the North
			 American Securities Administrators Association (NASAA): (3-23-22)
a. "Loans and Other Material Affiliated
			 Transactions," as adopted with amendments through March 31, 2008;
			 (3-23-22)
b. "Options and
			 Warrants," as adopted with amendments through March 31, 2008;
			 (3-23-22)
c. "Corporate Securities
			 Definitions," as adopted with amendments through March 31, 2008;
			 (3-23-22)
d. "Impoundment of
			 Proceeds," as adopted with amendments through March 31, 2008;
			 (3-23-22)
e. "Preferred Stock," as
			 adopted with amendments through March 31, 2008; (3-23-22)
f. "Promotional Shares," as adopted with
			 amendments through March 31, 2008; (3-23-22)
g. "Promoters' Equity Investment," as adopted
			 with amendments through March 31, 2008; (3-23-22)
h. "Specificity in Use of Proceeds," as
			 adopted with amendments through March 31, 2008; (3-23-22)
i. "Underwriting Expenses, Underwriter's
			 Warrants, Selling Expenses, and Selling Securities Holders," as adopted with
			 amendments through March 31, 2008; (3-23-22)
j. "Unsound Financial Condition," as adopted
			 with amendments through March 31, 2008; (3-23-22)
k. "Unequal Voting Rights," as adopted March
			 31, 2008; (3-23-22)
l. "Debt
			 Securities," as adopted April 25, 1993; (3-23-22)
m. "NASAA Guidelines Regarding Viatical
			 Investments," as adopted October 1, 2002; (3-23-22)
n. "NASAA Statement of Policy Regarding Small
			 Company Offering Registrations (SCOR)," as adopted April 28, 1996.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.020 - APPLICATION FOR REGISTRATION OF SECURITIES

Current through August 31, 2023
01.
Registration by Coordination
. A registration statement to register
			 securities by coordination shall contain the following: (3-23-22)
a. The Form U-1 and accompanying documents
			 (including subscription agreement); (3-23-22)
b. A consent to service of process (Form U-2)
			 in compliance with Section
			 30-14-611, Idaho Code;
			 (3-23-22)
c. A copy of the
			 prospectus, including financial statements where: (3-23-22)
i. The prospectus for a securities
			 registration by coordination under Section
			 30-14-303, Idaho Code, shall be
			 prepared using the forms required under the Securities Act of 1933, and
			 (3-23-22)
ii. All historical
			 financial statements in the registration statement shall be in conformity with
			 generally accepted accounting principles (GAAP) and financial statements filed
			 with a registration statement by coordination that complies with the
			 requirements of the United States Securities and Exchange Commission.
			 (3-23-22)
d. All exhibits
			 filed with the United States Securities and Exchange Commission in connection
			 with the registration statement; (3-23-22)
e. The filing fee specified in Section
			 30-14-305(b),
			 Idaho Code; and (3-23-22)
f. Any
			 additional information or documents requested by the Department.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.021 - AMENDMENTS TO REGISTRATION STATEMENT

Current through August 31, 2023
01.
Amendments Required
. A correcting amendment to an effective registration
			 statement shall be prepared and submitted to the Department any time that the
			 information contained therein becomes inaccurate or incomplete in any material
			 respect. The responsibility for identifying and reporting a material change
			 lies with the registrant. (3-23-22)
02.
Contents of Amendment
			 Filing
. Each filing of a correcting amendment to a registration
			 statement shall contain a copy of each item of the registration statement which
			 has been changed, with all changes clearly marked. To be complete, a filing of
			 a correcting amendment to the registration statement shall contain a report of
			 material changes setting forth a summary of each material change and indicating
			 the location of such change in the documents filed. Neither the Administrator
			 nor any member of his staff shall be held to have taken notice of any item of
			 material change not summarized in such a report. (3-23-22)
03.
Time of Filing and
			 Undertaking
. Every registration statement shall contain an undertaking
			 by the applicant to file correcting amendments to the registration statement
			 whenever the information in the registration statement becomes inaccurate or
			 incomplete in any material respect by the earlier of: (3-23-22)
a. Two (2) business days after filing such
			 amendment with the SEC; or (3-23-22)
b. Fifteen (15) business days following the
			 event giving rise to the amendment. (3-23-22)
c. If not registered with the SEC,
			 registrants shall file an amended registration statement if required within
			 fifteen (15) business days following the event giving rise to the amendment.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.022 - FINANCIAL STATEMENTS

Current through August 31, 2023
01.
Application of Regulation S-X
. As to definitions, qualifications of
			 accountants, content of accountant's certificates, requirements for
			 consolidated or combined statements, and actual form and content of financial
			 statements, the Administrator shall apply Regulation S-X of the SEC (17 CFR
			 Part 210 ) in its most currently amended form as of the date of the filing of
			 the application to all financial statements filed with the Department in
			 connection with the registration of securities. (3-23-22)
02.
Financial Statements Incorporated
			 by Reference
. Where financial statements in a prospectus are
			 incorporated by reference from another document, the Administrator may require
			 that such other document be filed with the Department and be delivered to
			 investors with the prospectus. (3-23-22)
03.
Application of Antifraud
			 Provisions
. Any financial statement distributed in connection with the
			 offer or sale of securities under the Act is subject to the provisions of
			 Section 30-14-501, Idaho Code. Any
			 financial statement filed with the Department is subject to the provisions of
			 Section 30-14-505, Idaho Code.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.036 - NASAA STATEMENTS OF POLICY - REGISTERED OFFERINGS

Current through August 31, 2023
The Department will apply the applicable statement(s) of policy
				adopted by NASAA. and incorporated herein by reference pursuant to Section
				005, of these rules, to an offering
				seeking registration in Idaho when conducting a review to determine whether an
				offering is fair, just and equitable. Such an offering must comply with the
				requirements of such policy or policies, unless waived by the Administrator.
				(3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.037 - REGISTRATION OF DEBT SECURITIES

Current through August 31, 2023
In addition to the requirements contained in the NASAA
				Statement of Policy Regarding Debt Securities, as adopted on April 25, 1993,
				the issuer of debt securities will incorporate the following standards:
				(3-23-22)
01.
Suitability
. In establishing standards of fairness and equity, the
			 Department has established the following investor suitability guidelines for
			 debt offerings registered under the Act: (3-23-22)
a. No more than ten percent (10%) of any one
			 (1) Idaho investor's net worth (exclusive of home, home furnishings, and
			 automobiles) shall be invested in the securities being registered with the
			 Department; and either (3-23-22)
b.
			 A gross income of forty-five thousand dollars ($45,000) and a net worth of
			 forty-five thousand dollars ($45,000) (exclusive of home, home furnishings and
			 automobiles); or (3-23-22)
c. A net
			 worth of one hundred fifty thousand dollars ($150,000) (exclusive of home, home
			 furnishings and automobiles). (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.038 - WITHDRAWAL/ABANDONMENT OF A REGISTRATION STATEMENT

Current through August 31, 2023
01.
Withdrawal
. The withdrawal of an application (prior to
			 effectiveness) may be permitted by the Administrator upon the written request
			 of the applicant. (3-23-22)
02.
Abandonment
. The abandonment of an application, where there has
			 been no activity on the application by the applicant for a period of six (6)
			 months or more, may be considered to signify a request for withdrawal.
			 (3-23-22)
03.
Time
			 Limit
. An application for registration of securities pursuant to Section
			 30-14-303 or
			 30-14-304, Idaho Code, is deemed
			 abandoned if such registration is not effective in the state of Idaho within
			 one (1) year from the date of receipt by the Department of the initial filing
			 of the application for registration. (3-23-22)
04.
Abandoned Applications Not
			 Reinstated
. Once deemed abandoned, the original application shall not be
			 reinstated. A new application including the registration statement, appropriate
			 exhibits and filing fees is required. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.039 - REPORT OF COMPLETION OF OFFERING

Current through August 31, 2023
01.
Completion Statement
. Within thirty (30) days of the completion of
			 a registered offering in Idaho, the registrant shall provide a written
			 statement to the Department that states the following: (3-23-22)
a. The date the offering was completed in
			 Idaho; and (3-23-22)
b. The number
			 and amount of registered securities sold in Idaho, for SCOR offerings and
			 offerings registered by qualification. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.040 - ANNUAL REPORT FOR THE RENEWAL OF A REGISTRATION STATEMENT

Current through August 31, 2023
To renew a registration statement for an additional year, the
				registrant shall file the following with the Department before the anniversary
				of the effective date of the registration statement in Idaho: (3-23-22)
01.
Cover Letter
. A cover letter
			 requesting renewal; (3-23-22)
02.
Consent to Service
. A consent to service of process (Form U-2) in
			 accordance with Section
			 30-14-611, Idaho Code; and
			 (3-23-22)
03.
Filing
			 Fee
. A filing fee of three hundred dollars ($300) for all registered
			 offerings. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.041 - SUBSCRIPTION AGREEMENT

Current through August 31, 2023
The subscription agreement shall contain, among other things,
				an acknowledgment by the subscriber that he has received a copy of the
				prospectus. Each completed subscription agreement shall be kept in the office
				of the issuer or broker-dealer for a period of five (5) years and be subject to
				inspection by the Department. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.042 - DELIVERY OF PROSPECTUS

Current through August 31, 2023
As a condition of registration, an applicant shall comply with
				the following: (3-23-22)
01.
Registration by Qualification
. A person offering or selling a
			 security under a registration by qualification, other than through a
			 broker-dealer, shall deliver a copy of the final prospectus to each prospective
			 purchaser before or at the time of the confirmation of a sale made by or for
			 the account of the person. (3-23-22)
02.
Registration by
			 Coordination
. A person offering or selling a security under a
			 registration by coordination shall deliver a copy of the prospectus as required
			 by the Securities Act of 1933. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.043 - REGISTRATIONS - NOTICE OF INTENDED IDAHO BROKER - DEALER OR AGENT

Current through August 31, 2023
At the time of filing of an application for registration of any
				security required to be registered in Idaho, written notice shall be provided
				to the Department of the name of at least one (1) broker-dealer or agent,
				registered as such in this state, that is intended or qualified to offer or
				sell such security in Idaho. The Administrator may deny or revoke effectiveness
				of any registration pending receipt of the notice or may hold the application
				without further review until the notice has been received. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.044 - RECORDS TO BE PRESERVED BY ISSUERS

Current through August 31, 2023
01.
Required
			 Records
. All issuers who effect sales of registered securities, other
			 than through a broker-dealer, shall preserve the following records for at least
			 three (3) years following the expiration of the registration: (3-23-22)
a. Copies of all documents contained in the
			 registration statement; (3-23-22)
b. Copies of all advertisements, including a
			 record of the dates, names and addresses of media carrying those
			 advertisements; (3-23-22)
c. Copies
			 of all communications received and sent by the issuer pertaining to the offer,
			 sale and transfer of the securities, including purchase agreements and
			 confirmations; and (3-23-22)
d. A
			 list of the name, address and telephone number of each investor to whom the
			 securities were sold, and for each such person, information regarding:
			 (3-23-22)
i. The type of securities sold;
			 (3-23-22)
ii. The number and amount
			 of securities sold; (3-23-22)
iii.
			 The type of consideration paid; and (3-23-22)
iv. The name of the agent that sold the
			 securities. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.045 - EXAMINATION OF APPLICATION

Current through August 31, 2023
The Department shall conduct a special examination of each
				application for registration under Sections
				30-14-303 and
				30-14-304, Idaho Code, to
				determine the adequacy of disclosure and to fulfill the Department's
				obligations under Section
				30-14-306, Idaho Code. This
				examination shall be based upon material contained in the registration
				statement and any other documentation which the applicant may be required to
				submit. Each application for registration shall be accompanied by the filing
				fee set forth in Section
				30-14-305(b),
				Idaho Code. The examination report shall consist of the Department's written
				comments regarding the filing. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.046 - ON-SITE EXAMINATION OF ISSUERS

Current through August 31, 2023
The business and records of issuers offering and/or selling
				securities in, or out of, Idaho may be subject to periodic on-site examinations
				by the Administrator, or his designee, at such times as the Administrator
				determines necessary for the protection of the public. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.047 - ADVERTISING

Current through August 31, 2023
01.
Definitions
. The following
			 words and terms, when used in Section
			 047, of these rules, have the
			 following meaning, unless the context clearly indicates otherwise: (3-23-22)
a. "Sales literature" means material
			 published, or designed for use, in a newspaper, magazine or other periodicals,
			 radio, television, telephone solicitation or tape recording, videotaped
			 display, signs, billboards, motion pictures, telephone directories (other than
			 routine listings), other public media and any other written communication
			 distributed or made generally available to customers or the public including,
			 but not limited to, prospectuses, pamphlets, circulars, form letters, seminar
			 texts, research reports, surveys, performance reports or summaries and reprints
			 or excerpts of other sales literature or advertising to include publications in
			 electronic format. (3-23-22)
b.
			 "Sales literature package" means all submissions of sales literature to the
			 Department under one (1) posting or delivery relating to a specific issue of
			 securities. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.048 - DEPARTMENT ACCESS

Current through August 31, 2023
Each issuer examined shall provide the personnel of the
				Department access to business books, documents, and other records. Each issuer
				shall provide personnel with office space and facilities to conduct an on-site
				examination, and assistance in the physical inspection of assets and
				confirmation of liabilities. Failure of any issuer to comply with any provision
				here of shall constitute a violation of Section
				048, of these rules, and shall be a
				basis for denial, suspension or revocation of the registration or application
				for registration or other administrative or civil action by the Department.
				(3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.052 - ISSUER AGENT REGISTRATION

Current through August 31, 2023
Any individual not exempted pursuant to Sections
				30-14-402(b)(3), (4) or
				(5), Idaho Code, must be registered as an
				issuer agent or comply with the registration requirement of Section
				30-14-402(a),
				Idaho Code, if the individual is compensated in connection with the agent's
				participation by the payment of commissions or other remuneration based,
				directly or indirectly, on transactions in those securities. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.053 - FEDERAL COVERED SECURITIES (RULE 53)

Current through August 31, 2023
01.
Investment Company Notices
. (3-23-22)
a. Notice Requirement. Pursuant to Section
			 30-14-302, Idaho Code, prior to
			 the offer in this state of a series or portfolio of securities of an investment
			 company that is registered, or that has filed a registration statement, under
			 the Investment Company Act of 1940, that is not otherwise exempt under Sections
			 30-14-201 through
			 30-14-203, Idaho Code, the issuer
			 must file a notice with the Administrator relating to such series or portfolio
			 of securities. (3-23-22)
b. Content
			 of Notice. Each required notice shall include the following: (3-23-22)
i. A properly completed Form NF;
			 (3-23-22)
ii. A consent to service
			 of process (Form U-2); (3-23-22)
iii. A filing fee of three hundred dollars
			 ($300) for mutual funds and one hundred dollars ($100) for unit investment
			 trusts; and (3-23-22)
iv.
			 Notification of SEC effectiveness. (3-23-22)
c. Renewal of Notice. The effectiveness of a
			 notice required pursuant to Subsection
			 053.01.a. of this rule may be
			 renewed each year for an additional one (1) year period of effectiveness by
			 filing on or before the expiration of the effectiveness of such notice:
			 (3-23-22)
i. A properly completed Form NF
			 clearly indicating the state file number of the Notice to be renewed;
			 (3-23-22)
ii. A consent to service
			 of process (Form U-2) in accordance with Section
			 30-14-611, Idaho Code; and
			 (3-23-22)
iii. A renewal fee of
			 three hundred dollars ($300) for mutual funds and one hundred dollars ($100)
			 for unit investment trusts. (3-23-22)
d. Amendments. Amendment filings are required
			 for the following: (3-23-22)
i. Issuer name
			 change; (3-23-22)
ii. Address
			 change for contact person; and (3-23-22)
iii. Notification of termination or
			 completion. (3-23-22)
e.
			 Other Documents. Documents other than those required in Subsections
			 053.01.b., 053.01.c., and
			 053.01.d. of this rule, unless specifically requested by the Department, should
			 not be filed with the Department. Documents that should be filed with the
			 Department only if specifically requested include, but are not limited to,
			 registration statements, prospectuses, amendments, statements of additional
			 information, quarterly reports, annual reports, and sales literature.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.054 - NOT FOR PROFIT DEBT SECURITIES NOTICE FILING

Current through August 31, 2023
01.
Securities Exempt
. With
			 respect to the offer or sale of a note, bond, debenture, or other evidence of
			 indebtedness, such issuers relying upon the exemption from registration
			 provided in Section
			 30-14-201(7),
			 Idaho Code, shall file a notice with the Administrator at least thirty (30)
			 days prior to the first offering of sale pursuant to such claim. Such exemption
			 shall become effective thirty (30) days after the filing of a complete notice
			 if the Administrator has not disallowed the exemption. (3-23-22)
02.
Notice Information
. The
			 notice required in Subsection
			 054.01 of this rule shall
			 specify, in writing, the material terms of the proposed offer or sale to
			 include, although not limited to, the following: (3-23-22)
a. The identity of the issuer;
			 (3-23-22)
b. The amount and type of
			 securities to be sold pursuant to the exemption; (3-23-22)
c. A description of the use of proceeds of
			 the securities; and (3-23-22)
d.
			 The person or persons by whom offers and sales will be made.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.055 - MORTGAGE NOTE EXEMPTION

Current through August 31, 2023
01.
Investment Contract or Profit-Sharing Agreement
. The exemption
			 specified in Section
			 30-14-202(11),
			 Idaho Code, shall not extend to any transaction in a security in the nature of
			 an investment contract or profit-sharing agreement. (3-23-22)
02.
Definition "Offered and Sold as a
			 Unit."
As used in Section
			 30-14-202(11),
			 Idaho Code, "offered and sold as a unit" means an offer and sale of the entire
			 mortgage or other security agreement to a single purchaser at a single sale.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.056 - MANUAL EXEMPTION

Current through August 31, 2023
For the purpose of the manual exemption (Section
				30-14-202(2),
				Idaho Code), the following securities manuals or portions of the manuals are
				recognized. (3-23-22)
a. Best's
			 Insurance Reports- Life-Health. (3-23-22)
b. Mergent's Industrial Manual.
			 (3-23-22)
c. Mergent's
			 International Manual. (3-23-22)
d.
			 Walkers Manual of Western Corporations. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.057 - MINING, OIL OR GAS EXPLORATION EXEMPTION REQUIREMENTS

Current through August 31, 2023
01.
Legal Opinion for Extractive
			 Industries
. If the Department deems it necessary or advisable in the
			 public interest or for the protection of investors, it may require an issuer
			 engaged in mining, gas, or oil exploration or extraction to submit an opinion
			 of counsel on the nature of the title held to the property noting any defects
			 or liens or both, and the principal terms of any lease or option with respect
			 to the property. If continued possession of the property by the issuer depends
			 upon the satisfaction of certain working conditions, describe these conditions
			 and state the extent to which they have been met. The Department may require
			 other issuers to submit a status of title to any real estate which is material
			 to the business of the issuer. (3-23-22)
02.
Quarterly Reports
. The
			 issuer shall file quarterly reports, on the "Quarterly Report Form for Small
			 Mining Issues." during the time the securities remain registered. Such reports
			 are due within thirty (30) days following the end of the issuer's quarter.
			 Failure to comply with this rule could be grounds for suspension or revocation
			 of a permit. (3-23-22)
03.
Advertising
. The only advertising of exempt mining securities, whether
			 on radio, television, print media, or other medium, shall be restricted to
			 announcing the securities offering and stating the name and address of the
			 issuer, the type of security, the underwriter, and where additional information
			 may be obtained. (3-23-22)
04.
Offering Circulars
. All offers of the security must be accompanied
			 by a complete, current offering circular previously reviewed by the
			 Administrator adequate to satisfy the antifraud provisions of the Act.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.058 - STOCK EXCHANGE LISTED SECURITIES

Current through August 31, 2023
Stock exchanges specified by or approved under Section
				30-14-201(6),
				Idaho Code, are as follows: (3-23-22)
01.
The New York Stock Exchange
;
			 (3-23-22)
02.
The American
			 Stock Exchange
; (3-23-22)
03.
The NASDAQ Global Market and Global
			 Select Market
; (3-23-22)
04.
The Chicago Stock Exchange
; (3-23-22)
05.
The Chicago Board Options
			 Exchange
; (3-23-22)
06.
Tier I of the Pacific Stock Exchange
; and (3-23-22)
07.
Tier I of the Philadelphia Stock
			 Exchange, Inc
. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.060 - REGISTRATION OR EXEMPTION OF " BLIND POOL" OFFERINGS PROHIBITED

Current through August 31, 2023
An offering in which it is proposed to issue stock or other
				equity interest without an allocation of proceeds to sufficiently identifiable
				properties or objectives shall be considered a "blind pool" offering and one in
				which the duty to provide full disclosure cannot be met. Because of the
				inability or failure to make full disclosure, the Department is of the position
				that the offering would work a fraud upon purchasers and, therefore, the
				offering may not be registered or qualify for an exemption from registration in
				Idaho. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.061 - CROSS-BORDER TRANSACTIONS EXEMPTION

Current through August 31, 2023
By authority delegated to the Administrator in Section
				30-14-203, Idaho Code,
				transactions effected by a Canadian broker-dealer and its agents that meet the
				requirements for exemption from registration pursuant to Section
				084 of these rules, are determined
				to be classes of transactions for which registration is not necessary or
				appropriate for the protection of investors and are exempt from Sections
				30-14-301 and
				30-14-504, Idaho Code.
				(3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.062 - DESIGNATED MATCHING SERVICES

Current through August 31, 2023
01.
In
			 General
. Sections
			 30-14-301 through
			 30-14-305, Idaho Code, shall not
			 apply to any offer or sale of a security by an issuer in a transaction that
			 meets the requirements of this rule. A designated matching service shall not be
			 deemed a broker-dealer subject to registration within the meaning of the Act or
			 the rules thereunder. (3-23-22)
02.
Definitions
. The following words and terms, when used in this
			 rule, shall have the following meanings, unless the context clearly indicates
			 otherwise. (3-23-22)
a. Designated Matching
			 Service. Means a matching service designated by the Administrator under Section
			 062 of these rules.
			 (3-23-22)
b. Designated Matching
			 Service Facility. Means a computer system operated, or a seminar or meeting
			 conducted, by a designated matching service. (3-23-22)
c. Individual Accredited Investor. Means any
			 natural person whose individual net worth, or joint net worth with that
			 person's spouse, at the time of his or her purchase, exceeds one million
			 dollars ($1,000,000) or any natural person who had an individual income in
			 excess of two hundred thousand dollars ($200,000) in each of the two (2) most
			 recent years or joint income with that person's spouse in excess of three
			 hundred thousand dollars ($300,000) in each of those years and has a reasonable
			 expectation of reaching the same income level in the current year. In addition
			 each purchaser must evidence such knowledge and experience in financial and
			 business matters that he is capable of evaluating the merits and risks of the
			 prospective investment. The term "individual accredited investor" also includes
			 any self-directed employee benefit plan with investment decisions made solely
			 by persons that are "individual accredited investors" as defined in Subsection
			 062.02.c. of this rule, and
			 the individual retirement account of any such individual accredited investor.
			 (3-23-22)
d. Investor Member. Means
			 an investor who has been properly qualified by and uses a designated matching
			 service. Either of the following investors may be properly qualified: any
			 institutional investor as described in Section
			 30-14-102(11),
			 Idaho Code, or an individual accredited investor as defined in this rule.
			 (3-23-22)
e. Issuer Member. Means
			 an issuer who uses a designated matching service facility. (3-23-22)
f. Summary Business Plan. Means a brief
			 statement specifically describing the issuer, its management, its products or
			 services, and the market for those products or services. Other information,
			 including, specifically, financial projections, must not be included in a
			 summary business plan. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.078 - IMPLEMENTATION OF CRD

Current through August 31, 2023
01.
Designation and Use of CRD System
. Pursuant to Section
			 30-14-406, Idaho Code, the
			 Administrator designates the web-based Central Registration Depository (CRD)
			 operated by FINRA to receive and store filings and collect related fees from
			 broker-dealers, agents and investment adviser representatives on behalf of the
			 Administrator. Forms U-4, U-5, BD, BR, and BDW shall be used to register or
			 terminate agents, investment adviser representatives or broker-dealers,
			 respectively, in the state of Idaho through the CRD system. The CRD system will
			 be utilized to effect FINRA registration as well as registration, termination,
			 and renewal in the state. (3-23-22)
02.
Registrations Not Automatic
.
			 A filing of Form U-4, BD, or BR with the CRD system does not constitute an
			 automatic registration in Idaho. Broker-dealers and investment advisers should
			 not consider agents or investment adviser representatives registered until such
			 approval from the state of Idaho has been received by them through CRD.
			 (3-23-22)
03.
Electronic
			 Signature
. When a signature or signatures are required by the particular
			 instructions of any filing to be made through CRD, a duly authorized officer of
			 the applicant or the applicant him or herself, as required, shall affix his or
			 her electronic signature to the filing by typing his or her name in the
			 appropriate fields and submitting the filing to CRD. Submission of a filing in
			 this manner shall constitute irrefutable evidence of legal signature by any
			 individuals whose names are typed on the filing. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.079 - IMPLEMENTATION OF IARD

Current through August 31, 2023
01.
Designation
. Pursuant to Section
			 30-14-406, Idaho Code, the
			 Administrator designates the web-based Investment Adviser Registration
			 Depository (IARD) operated by FINRA to receive and store filings and collect
			 related fees from investment advisers on behalf of the Administrator.
			 (3-23-22)
02.
Use of
			 IARD
. Unless otherwise provided, all investment adviser applications,
			 amendments, reports, notices, related filings and fees required to be filed
			 with the Administrator pursuant to the rules promulgated under the Act, shall
			 be filed electronically with and transmitted to IARD. The following additional
			 conditions relate to such electronic filings: (3-23-22)
a. Electronic Signature. When a signature or
			 signatures are required by the particular instructions of any filing to be made
			 through IARD, a duly authorized officer of the applicant or the applicant him
			 or herself, as required, shall affix his or her electronic signature to the
			 filing by typing his or her name in the appropriate fields and submitting the
			 filing to IARD. Submission of a filing in this manner shall constitute
			 irrefutable evidence of legal signature by any individuals whose names are
			 typed on the filing. (3-23-22)
b.
			 When Filed. Solely for purposes of a filing made through IARD, a document is
			 considered filed with the Administrator when all fees are received and the
			 filing is accepted by IARD on behalf of the state.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.080 - BROKER-DEALER REGISTRATION - APPLICATION/RENEWAL

Current through August 31, 2023
01.
Initial Application -- FINRA Member Firms
. Broker-dealers applying
			 for initial registration pursuant to Section
			 30-14-406, Idaho Code, and who are
			 contemporaneously applying for FINRA, membership or who are a FINRA, member,
			 shall file: (3-23-22)
a. With CRD, a completed
			 Form BD, including Schedules A-D; (3-23-22)
b. With CRD, a filing fee as specified in
			 Section 30-14-410, Idaho Code;
			 (3-23-22)
c. With CRD, the Form BR.
			 (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.081 - WITHDRAWAL OF BROKER - DEALER AND AGENT REGISTRATION

Current through August 31, 2023
01.
Application Withdrawal
.
			 Withdrawal from registration as a broker-dealer or agent becomes effective
			 thirty (30) days after receipt of an application to withdraw or within such
			 shorter period of time as the Administrator may determine, unless a revocation
			 or suspension proceeding is pending when the application is filed or a
			 proceeding to revoke or suspend or to impose conditions upon the withdrawal is
			 instituted within sixty (60) days after the application is filed. If a
			 proceeding is pending or instituted, withdrawal becomes effective at such time
			 and upon such conditions as the Administrator by order determines. If no
			 proceeding is pending or instituted and withdrawal automatically becomes
			 effective, the Administrator may nevertheless institute a revocation or
			 suspension proceeding under Section
			 30-14-412, Idaho Code, within one
			 (1) year after withdrawal became effective and enter a revocation or suspension
			 order as of the last date on which registration is effective.
			 (3-23-22)
02.
Broker-Dealer
. The application for withdrawal of registration as a
			 broker-dealer shall be completed by following the instructions on Form BDW and
			 filing Form BDW with CRD. (3-23-22)
03.
Agents
. The application for
			 withdrawal of registration as an agent shall be completed by following the
			 instructions on Form U-5 and filed upon Form U-5 with CRD. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.082 - WITHDRAWAL OF AGENT OF ISSUER REGISTRATION

Current through August 31, 2023
01.
Pending Revocation or Suspension
. Withdrawal from registration as an
			 agent of issuer becomes effective thirty (30) days after receipt of an
			 application to withdraw or within such shorter period of time as the
			 Administrator may determine, unless a revocation or suspension proceeding is
			 pending when the application is filed or a proceeding to revoke or suspend or
			 to impose conditions upon the withdrawal is instituted within sixty (60) days
			 after the application is filed. If a proceeding is pending or instituted,
			 withdrawal becomes effective at such time and upon such conditions as the
			 Administrator by order determines. If no proceeding is pending or instituted
			 and withdrawal automatically becomes effective, the Administrator may
			 nevertheless institute a revocation or suspension proceeding under Section
			 30-14-412, Idaho Code, within one
			 (1) year after withdrawal became effective and enter a revocation or suspension
			 order as of the last date on which registration is effective.
			 (3-23-22)
02.
Agent of
			 Issuer
. The application for withdrawal of registration as an agent of
			 issuer shall be completed by following the instructions on Form U-5 and filed
			 upon Form U-5 with the Department. (3-23-22)
Idaho Administrative Code › Title IDAPA 12 - Finance, Department of › Rule 12.01.08 - RULES PURSUANT TO THE UNIFORM SECURITIES ACT (2004) › Section 12.01.08.083 - BROKER-DEALER AGENT/ISSUER AGENT REGISTRATION

Current through August 31, 2023
01.
Broker-Dealer Agents
. Agents of broker-dealers applying for
			 initial registration in the state of Idaho pursuant to Section
			 30-14-406, Idaho Code, shall file
			 the following: (3-23-22)
a. With CRD, a
			 completed Form U-4; (3-23-22)
b.
			 With CRD, the filing fee specified in Section
			 30-14-410, Idaho Code;
			 (3-23-22)
c. With CRD, proof of
			 successful completion of the applicable examinations specified in Section
			 103 of these rules;
			 (3-23-22)
d. With the Department,
			 any additional documentation, supplemental forms and information as the
			 Administrator may deem necessary; (3-23-22)
e. With the Department, Subsections
			 083.01.a. through 083.01.d. of
			 this rule, for any agent of a non-FINRA member. (3-23-22)