reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 2 - Applications for Registration › Section 2-3 - Amendments

Current through July 10, 2024
Authority: IC 23-2-4-24
Affected: IC 23-2-4-3
Sec. 3.
(a) An
				application for registration shall be amended within 30 days after any change
				(other than a change in occupancy) in the information required by
				710 IAC
				2-2-2.
(b)
				An application may be amended by filing a copy of the form prescribed for
				applications, with appropriate changes.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-1 - Form of initial disclosure statement

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-4
Sec. 1.
An initial disclosure statement shall be printed or typed on
				  paper 8 1/2 inches by 11 inches. The statement shall be bound, stapled, or
				  otherwise securely fastened.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-2 - Pictorial or graphic representations; sales material

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-4
Sec. 2.
(a) An
				initial disclosure statement shall contain no photographic reproductions,
				drawings or artist's renderings, other than actual plans of the home. No
				inaccurate or misleading photograph or diagram shall be contained in any
				initial disclosure statement.
(b)
				No sales or advertising material shall appear in the initial disclosure
				statement.
(c) The provider shall
				keep and maintain a file of all advertisements, pamphlets, circulars, letters,
				articles, or communications published in any newspaper, magazine, or
				periodical; scripts of any recording, radio, or television announcement; and
				any sales kits or literature to be used in solicitation of persons to enter
				into a continuing care agreement. The file shall be kept with the records of
				the home. Documents shall be kept in the file for at least two years.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-3 - Material information

Current through July 10, 2024
Authority: IC 23-2-4-24
Affected: IC 23-2-4-4
Sec. 3.
(a) An
				initial disclosure statement shall contain all material information not
				expressly required, that is necessary, under the circumstances, to make the
				statements made not misleading.
(b)
				An initial disclosure statement shall be amended at any time if necessary to
				prevent the statement from containing any material misstatement of fact or
				omission of a material fact.
(c)
				The provider may file a sworn petition requesting that the commissioner rule as
				to the materiality of any information. The commissioner's ruling shall be based
				solely on the representations contained in such petition and shall be valid and
				effective only to the extent that such representations are true and
				complete.
(d) If the commissioner
				rules that information is material, such information shall be included in the
				initial disclosure statement. If the commissioner rules that the information is
				not material, the initial disclosure statement shall not be deemed in violation
				of
				710 IAC
				2-3 by virtue of the omission of such information.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-4 - Initial disclosure statement to be kept current

Current through July 10, 2024
Authority: IC 23-2-4-24
Affected: IC 23-2-4-4
Sec. 4.
(a) An
				initial disclosure statement dated more than one year prior to the date of
				delivery shall not comply with the requirements of
				710 IAC
				2-3.
(b)
				An initial disclosure statement shall be amended no less frequently than once
				each year.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-5 - Contents of an initial disclosure statement

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC 23-2-4
Sec. 5.
The initial disclosure statement shall contain the following
				  information:
(1) Cover Page. The
				following information shall appear on the cover page of the initial disclosure
				statement:
(A) In bold face, the words
				"INITIAL DISCLOSURE STATEMENT."
(B)
				The name and address of the home.
(C) The name and address of the provider, if
				different from that of the home.
(D) If the provider is affiliated with a
				religious, charitable, or other nonprofit organization, a statement to that
				effect and the name and address of such organization.
(E) The following statement, in at least ten
				(10) point type:
NOTICE TO PROSPECTIVE
				  RESIDENTS
"ALL PROSPECTIVE RESIDENTS SHOULD READ THIS DISCLOSURE
				  STATEMENT IN ITS ENTIRETY BEFORE ENTERING INTO ANY CONTRACT OR WRITTEN
				  AGREEMENT OR PAYING ANY FEE. ADDITIONALLY, A REPRESENTATIVE OF THE PROVIDER IS
				  AVAILABLE DURING NORMAL BUSINESS HOURS TO ANSWER ANY QUESTIONS RELATING TO THIS
				  DISCLOSURE STATEMENT AND THE REPRESENTATIONS CONTAINED HEREIN."
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 3 - Initial Disclosure Statement › Section 3-6 - Delivery of initial disclosure statement

Current through July 10, 2024
Authority: IC 23-2-4-24
Affected: IC 23-2-4-7
Sec. 6.
A provider shall not be deemed to have complied with IC
				  23-2-4-7 unless the initial disclosure statement complies with
				  710 IAC
				  2-3-4 and
				  710 IAC
				  2-3-5, and the initial disclosure statement is
				  delivered not later that
[sic.]
the earliest of:
(1) 24 hours prior to the execution of the
				continuing care agreement; and
(2)
				the payment of any application fee, entrance fee, deposit or any other charge,
				by the contracting party.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 4 - Annual Disclosure Statement › Section 4-1 - Annual disclosure statement

Current through July 10, 2024
Authority: IC 23-2-4-24
Affected: IC 23-2-4-5
Sec. 1.
The annual disclosure statement required to be filed under
				  IC 23-2-4-5 shall be accompanied by the form prescribed by the commissioner for
				  applications for registration under
				  710 IAC
				  2-2-2.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 5 - Escrow of Entrance Fees; Letters of Credit › Section 5-1 - Application fees

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-1;
				  IC
				  23-2-4-10
Sec. 1.
An application fee not exceeding $250 shall be presumed to
				  cover the provider's reasonable costs in processing applications. Application
				  fees exceeding $250 shall not be charged unless the provider first files with
				  the commissioner an itemized statement of all costs incurred in processing
				  applications, and the commissioner approves the statement by order.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 5 - Escrow of Entrance Fees; Letters of Credit › Section 5-2 - Escrow accounts

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-10
Sec. 2.
All escrow accounts required under IC
				  23-2-4-10
				  shall comply with the following:
(1)
				An escrow agreement shall be entered into between the provider and a bank or
				trust company, or any other person approved by the commissioner by order, as
				escrow agent. The agreement shall state that its purpose is to protect the
				contracting party, and provide for the escrow agent to release and pay over the
				funds to the provider or contracting party as required under IC
				23-2-4-10.
(2) Checks shall be made payable to the
				escrow agent; or endorsed to the escrow agent for deposit only by the
				provider.
(3) The account shall be
				established with an escrow agent, and the funds shall be kept and maintained in
				an account separate and apart from the provider's business accounts.
(4) All proceeds so deposited shall remain
				the property of the contracting party and shall not be subject to any liens or
				charges by the escrow agent, or judgments, garnishments, or creditor's claims
				against the provider until released pursuant to IC 23-2-410.
(5) The escrow agent shall provide a
				statement of the escrow account to the commissioner at his request.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 5 - Escrow of Entrance Fees; Letters of Credit › Section 5-3 - Letters of credit, bonds, negotiable securities

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-10;
				  IC
				  23-2-4-11
Sec. 3.
(a) Letters
				of credit, surety bonds, and negotiable securities proposed to be filed with
				the commissioner in lieu of establishment of an escrow account under IC
				23-2-4-10,
				shall be in an amount reasonably anticipated to be equal to or in excess of the
				maximum amount of entrance fees which might be otherwise subject to escrow
				requirements.
(b) Surety bonds
				proposed to be filed shall be issued by a surety company authorized to do
				business in Indiana.
(c) Letters of
				credit proposed to be filed shall be issued by a bank or trust company
				authorized to do business in Indiana.
(d) Letters of credit shall be drawable on
				the commissioner's sight draft, accompanied by the commissioner's certification
				that contracting parties have been found to be entitled to refund of entrance
				fees.
(e) Letters of credit, surety
				bonds, and negotiable securities must be accompanied by the undertaking of the
				provider not to accept any entrance fee which would make the amount of fees
				otherwise subject to escrow requirements exceed the amount of the letter of
				credit, surety bond, or negotiable securities.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 2 - SUPERVISION OF CONTINUING CARE CONTRACTS › Rule 6 - Financial Condition of Provider › Section 6-1 - Financial condition

Current through July 10, 2024
Authority: IC
				  23-2-4-24
Affected: IC
				  23-2-4-8
Sec. 1.
For purposes of IC
				  23-2-4-8(a)(6),
				  the commissioner may find that the financial condition of a provider may
				  jeopardize the care of the residents if:
(1) the report of an independent public
				accountant, based upon an examination of the provider's financial statements in
				conformity with generally accepted accounting principles, expresses doubt that
				the provider will be able to continue in business or is qualified due to
				uncertainties arising from recurring operating losses, working capital
				deficiency, negative cash flow, default on a loan agreement, loss of key
				personnel, work stoppages or other labor difficulties, or an uninsured
				catastrophe; or
(2) the provider is
				in default on the payment of principal or interest on any debt which is secured
				by a mortgage on the real estate on which the home is located.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 3 - BUSINESS TAKEOVER OFFERS › Rule 1 - General Provisions › Section 1-1 - Filing a statement

Current through July 10, 2024
Authority: IC
				  23-2-3.1-9
Affected: IC
				  23-2-3.1-3
Sec. 1.
(a) The
				offeror must file with the commissioner the takeover offer statements before or
				at the same time that the offeror delivers the statement to the target company.
				If the takeover offer is not subject to the filing requirements of the Exchange
				Act of 1934, as amended, the takeover offer statements must be filed before or
				at the time that the offeror first publishes, sends, or gives an offer or
				solicitation for tenders to security holders. If the takeover offer is subject
				to the filing requirements of the Exchange Act, the statements must be filed on
				the same date as the offeror files with the Securities and Exchange
				Commission.
(b) After a tender
				offer statement has been filed with the commissioner, the offeror must file
				with the commissioner amendments to the statement and news releases, and the
				target company must file with the commissioner written materials delivered to
				offerees and news releases.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 3 - BUSINESS TAKEOVER OFFERS › Rule 1 - General Provisions › Section 1-2 - Notice; appearances; objections

Current through July 10, 2024
Authority: IC
				  23-2-3.1-9
Affected: IC
				  23-2-3.1-7
Sec. 2.
(a) The
				hearing officer may require the offeror to provide notice of the takeover offer
				hearing to the shareholders of the target company. The notice may be by mail or
				may be published in each publication in an Indiana newspaper of general
				circulation in which the offeror had published the offer, unless the target
				company has published the offer.
(b) The hearing officer may by order
				establish a time within which any person desiring to become a party to the
				proceeding pursuant to IC 23-2-3.1-7(d) must file an appearance.
(c) The hearing officer may by order
				establish a time within which a party desiring to present evidence must file
				with the hearing officer.
(d) The
				hearing officer shall prohibit the participation in any proceeding of any
				person who does not comply with an order under subsections (b) through (c),
				unless good cause is shown why relief from an order should be granted.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 3 - BUSINESS TAKEOVER OFFERS › Rule 1 - General Provisions › Section 1-3 - Financial sources; takeover date

Current through July 10, 2024
Authority: IC
				  23-2-3.1-9
Affected: IC
				  23-2-3.1-5.5
Sec. 3.
(a) If the
				statement required under IC 23-2-3.1-5.5(d) does not apply to the offeror
				because of IC 23-2-3.1-5.5(b), the offeror must file a certified document
				signed by a duly authorized officer that IC 23-2-3.1-5.5(d) does not
				apply.
(b) If the offeror has
				included in its statement filed with the commissioner the information required
				in IC 23-2-3.1-5.5(e), the offeror may satisfy the requirement of IC
				23-2-3.1-5.5(d) by a filing titled "Statement under 5.5" and by referring to
				the appropriate sections in the tender offer statement.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 3 - BUSINESS TAKEOVER OFFERS › Rule 1 - General Provisions › Section 1-4 - Contracts

Current through July 10, 2024
Authority: IC
				  23-2-3.1-9
Affected: IC
				  23-2-3.1-5
Sec. 4.
(a)
				"Contract", for the purposes of this article, means a written or verbal
				agreement for the purchase, sale, lease, or assignment of goods, services, or
				intellectual property.
(b) A
				description of a contract required under this section must be in English and
				include the following:
(1) The date the
				contract was entered into.
(2) The
				parties to the contract.
(3) The
				goods, services, or intellectual property that is the subject of the
				contract.
(4) The approximate
				aggregate amount, in United States dollars, of the subject of the
				contract.
(5) The term of the
				contract.
(6) Any other information
				necessary to understand the contract.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 1 - General Provisions › Section 1-1 - Definitions

Current through July 10, 2024
Authority: IC 23-19-6-5
Affected: IC 23-19
Sec. 1.
The following definitions apply throughout this article
				  unless the context otherwise requires:
(1) "Affiliate of or person affiliated with a
				specified person" means a person who directly, or indirectly through one (1) or
				more intermediaries, controls or is controlled by, or is under common control
				with, the person specified.
(2)
				"Aggregate offering price" means the sum of all:
(A) cash;
(B) services;
(C) property;
(D) notes;
(E) cancellation of debt; or
(F) other consideration;
received by an issuer for issuance of its securities. Where
				  securities are being offered for both cash and noncash consideration, the
				  aggregate offering price shall be based on the price at which the securities
				  are offered for cash. If securities are not offered for cash, the aggregate
				  offering price shall be based on the value of the consideration as established
				  by bona fide sales of that consideration made within a reasonable time or, in
				  the absence of sales, on the fair value as determined by an accepted
				  standard.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 1 - General Provisions › Section 1-2 - Filing date

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 2.
An application, notice, or report under IC 23-19 shall not
				  be considered filed until all required forms and fees are received by the
				  commissioner.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 1 - General Provisions › Section 1-3 - Forms

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 3.
Where an application, notice, or report is required to be
				  filed under IC 23-19 or this article the:
(1) application;
(2) notice; or
(3) report;
shall be filed on the forms prescribed by the
				  commissioner.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-1 - Nonpublic offering exemption

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-2-2
Sec. 1.
(a) For
				purposes of calculating the number of purchasers under IC
				23-19-2-2(14),
				the following rules shall apply:
(1) The
				following purchasers shall be excluded:
(A)
				Any relative, spouse, or relative of the spouse of a purchaser who has the same
				principal residence as the purchaser.
(B) Any trust or estate in which a purchaser
				and any of the persons related to the purchaser (as specified in clause (A) or
				(C)) collectively have more than fifty percent (50%) of the beneficial interest
				(excluding contingent interests).
(C) Any corporation or other organization of
				which a purchaser and any of the persons related to the purchaser (as specified
				in clause (A) or (B)) collectively are beneficial owners of more than fifty
				percent (50%) of the equity securities (excluding directors' qualifying shares)
				or equity interest.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-2 - Disqualifications from use of nonpublic offering exemption

Current through July 10, 2024
Authority: IC
				  23-19-2; IC
				  23-19-6-5
Affected: IC
				  23-19-2-2; IC
				  23-19-2-4
Sec. 2.
(a) In
				consideration for issuing an order under IC
				23-19-2-4 denying, suspending
				application of, conditioning, limiting, or revoking an exemption provided by IC
				23-19-2-2(14),
				the commissioner may review:
(1) whether the
				issuer, or any of its directors, officers, general partners, or beneficial
				owners of ten percent (10%) or more of any class of equity securities has been
				convicted in any jurisdiction within five (5) years prior to the commencement
				of the offering of any felony or misdemeanor:
(A) in connection with the purchase or sale
				of any security or commodity; or
(B) involving the making of any false filing
				relating to any security or offering;
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-3 - Limitations on scope of exemption

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-2-2; IC
				  23-19-3-1
Sec. 3.
(a) The
				exemption provided by IC
				23-19-2-2(14)  is
				only an exemption for the specific offering from the registration requirements
				of IC 23-19-3-1. It is not an exemption
				for the securities being offered and sold, which means that the securities may
				not subsequently be offered or sold unless:
(1) subsequently registered; or
(2) an exemption from registration then
				exists.
IC
				  23-19-2-2(14) 
				  does not provide an exemption from any section of IC 23-19 other than IC
				  23-19-3-1, including the antifraud
				  and civil liability provisions.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-4 - Indiana uniform limited offering exemption

Current through July 10, 2024
Authority: IC 23-19-2
Affected: IC 23-19
Sec. 4.
(a) Nothing
				in this exemption is intended to or should be construed as in any way relieving
				issuers or persons acting on behalf of issuers from providing disclosure to
				prospective investors adequate to satisfy the antifraud provisions of IC
				23-19-5-1.
(b) In view of:
(1) the objective of this section;
				and
(2) the purposes and policies
				underlying IC 23-19;
the exemption created by this section is not available to any
				  issuer with respect to any transaction that, although in technical compliance
				  with this section, is part of a plan or scheme to evade registration or the
				  conditions or limitations explicitly stated in this section.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-5 - Section 18(b)(4)(D), federal covered security notice filing requirement

Current through July 10, 2024
Authority: IC
				  23-19-2
Affected: IC
				  23-19-5-1; IC
				  23-19-6-11
Sec. 5.
(a) Nothing
				in this exemption is intended to or should be construed as in any way relieving
				issuers or persons acting on behalf of issuers from providing disclosure to
				prospective investors adequate to satisfy the antifraud provisions of IC
				23-19-5-1.
(b) In view of the:
(1) objective of this section; and
(2) purposes and policies underlying IC
				23-19;
the exemption created by this section is not available to any
				  issuer with respect to any transaction that, although in technical compliance
				  with this section, is part of a plan or scheme to evade registration or the
				  conditions or limitations explicitly stated in this section.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 2 - Exemptions › Section 2-6 - Solicitations of interest prior to the filing of a registration statement or notice of claim of exemption from registration under section 4 of this rule

Current through July 10, 2024
Authority: IC 23-19-6-5
Affected: IC 23-19
Sec. 6.
(a) An offer,
				but not a sale, of a security made by or on behalf of an issuer for the sole
				purpose of soliciting an indication of interest in receiving an offering
				circular, or information to be provided under section 4(d)(3)(B) of this rule,
				for the security is exempt from registration under IC 23-19-3-1 if all of the
				following conditions are satisfied:
(1) The
				issuer:
(A) is or will be a business entity
				organized under the laws of:
(i) one (1) of
				the states or possessions of the United States; or
(ii) one (1) of the provinces or territories
				of Canada;
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 3 - Securities Registration › Section 3-1 - Filing of original application; power of attorney

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 1.
(a) The
				completed application for registration, together with exhibits and all other
				documents included as a part of the application, shall be submitted to the
				commissioner.
(b) The application
				for registration shall be completed by the applicant or an authorized officer
				of a corporate applicant.
(c) If
				any name is signed on an application for registration pursuant to a power of
				attorney, copies of the power of attorney shall be filed with the application
				for registration. In addition, if the name of any officer signing on behalf of
				the applicant or attesting the applicant's seal is signed pursuant to a power
				of attorney, certified copies of a resolution of the applicant's board of
				directors authorizing the signature shall also be filed with application for
				registration.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 3 - Securities Registration › Section 3-2 - Paper, printing, and language

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-3; IC
				  23-19-3-4
Sec. 2.
(a) Insofar
				as practicable any application for registration filed on paper shall be filed
				on unglazed white paper of good quality, eight and one-half (8 1/2) inches by
				eleven (11) inches in size. The following may be on larger paper, if folded to
				eight and one-half (8 1/2) inches by eleven (11) inches in size:
(1) Tables.
(2) Charts.
(3) Maps.
(4) Financial statements.
The prospectus may be on smaller paper if the applicant so
				  desires, but in no event shall it be smaller than five (5) inches by eight (8)
				  inches.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 3 - Securities Registration › Section 3-3 - Contents of all applications for registration

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-3; IC
				  23-19-3-4
Sec. 3.
Every application for registration shall be on the form
				  prescribed by the commissioner or on the "Uniform Application to Register
				  Securities" currently in use and shall contain the following
				  information:
(1) The type of
				registration requested (qualification or coordination).
(2) The name and address of the applicant
				and, if the issuer is not the applicant, the interest of the applicant in the
				offering.
(3) The name and address
				of the issuer.
(4) A:
(A) description of the securities to be
				offered in Indiana, including the number of shares or units of each kind of
				security;
(B) statement of the
				kinds of security;
(C) price per
				unit for each kind of security; and
(D) total offering price for each kind of
				security.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 4 - Disclosure Requirements › Section 4-1 - Prospectus

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 1.
(a) The
				prospectus shall be prepared in clearly legible copies. If printed, it shall be
				set in Times New Roman type of at least 10-point, modern type (except that
				financial statements and other statistical or tabular matter may be set in
				Times New Roman type as small as 8-point). A prospectus in the final form
				approved by the commissioner shall be deemed to have met all requirements of
				this subsection.
(b) As a general
				rule photographs are not permissible in prospectuses unless necessary to a fair
				understanding of the subject. The same is true of conceptions or renderings of:
(1) artists;
(2) architects; or
(3) engineers;
that may be misleading in that there is no assurance of
				  completion of the structure or because of lack of accuracy of the conception or
				  rendering. However, accurate maps or surveys are permissible where appropriate.
				  Established corporate symbols or trademarks may be used, provided they do not
				  create misleading impressions.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 4 - Disclosure Requirements › Section 4-2 - Contents of prospectus

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-4
Sec. 2.
(a) The
				prospectus, other than an offering circular to be utilized pursuant to a
				Regulation A offering pursuant to the Securities Act of 1933, filed as a part
				of any application for registration by qualification shall contain the
				following material which shall appear on the front page of the
				prospectus:
NAME OF ISSUER
Address
Total Shares Offered
(Same in Indiana if different from above)
Price to Public
Underwriting or Selling Commission
Net Proceeds to Issuer After Expenses Estimated at
								$ _______
Per Share or Unit:
$
$
$
Aggregate:
$
$
$
THESE ARE SPECULATIVE SECURITIES
THE INDIANA SECURITIES DIVISION HAS NOT IN ANY WAY PASSED
				  UPON THE MERITS OR QUALIFICATIONS OF OR RECOMMENDED OR GIVEN APPROVAL TO, THE
				  SECURITIES HEREBY OFFERED, OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS
				  PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
NAME OF UNDERWRITER
NAME OF RESIDENT AGENT
Address
Address
The date of this prospectus
								is:
(b) If
				applicable, the following additional material shall appear on the front page:
IN CONNECTION WITH THIS OFFERING THE UNDERWRITER MAY
				  OVERALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICE OF
				  (identify each class of securities in which this type of transaction may be
				  effected) AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN
				  MARKET. THE STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME.
(A) statement that the securities are offered
				only to bona fide residents of the state of Indiana and any other restrictions
				on the purchase or resale of the offered securities.)
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 4 - Disclosure Requirements › Section 4-3 - Changes in circumstances

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-5
Sec. 3.
If at any time during the effective period or registration
				  any statement contained in the registration statement becomes materially
				  inaccurate or misleading as of that time, the applicant shall within five (5)
				  days thereafter file with the commissioner a sworn statement of the changes in
				  the circumstances and the amendments necessary to render the registration
				  statement complete and not misleading. The statement shall become a part of the
				  application. Within five (5) days thereafter, the commissioner shall rule as to
				  the necessity for inclusion of the changes in the prospectus under section 4 of
				  this rule. The inclusion, if ruled necessary, upon approval by the commissioner
				  may be by addendum to the prospectus then in use, provided it is conspicuously
				  affixed to the appropriate portion of the prospectus.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 4 - Disclosure Requirements › Section 4-4 - Petition for ruling as to materiality

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-5
Sec. 4.
(a) An
				applicant may file a petition for a ruling as to materiality of any
				information. The petition shall:
(1) be
				sworn;
(2) set forth the
				information on which a ruling is requested; and
(3) state the basis for the applicant's
				belief that the information is not material.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-1 - Annual report

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 1.
Within ninety (90) days after the close of its fiscal year,
				  each issuer with an effective registration shall file an annual report with the
				  commissioner. The annual report shall be accompanied by the issuer's audited
				  financial statement for the preceding fiscal year.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-2 - Quarterly financial statements

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 2.
Each issuer with an effective registration by qualification
				  shall file quarterly financial statements within forty-five (45) days after the
				  close of each calendar quarter.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-3 - Final affidavit

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-5
Sec. 3.
Within thirty (30) days after termination of a registered
				  offering, the applicant shall file a final affidavit with the commissioner
				  stating the number of units sold in the offering and the number of units sold
				  in Indiana.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-4 - Reports to securities holders

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-5-4
Sec. 4.
Each issuer of securities registered by qualification that
				  is also the applicant or is controlled by the applicant shall distribute an
				  annual report to the holders of its securities. The report shall include
				  audited financial statements, including profit and loss statements for the past
				  five (5) years. The report shall be distributed not less than ten (10) days in
				  advance of the annual meeting that shall be held not later than five (5) months
				  after the close of each fiscal year. The undertaking shall:
(1) be included in the prospectus;
				and
(2) remain in effect through
				the first fiscal year ending after termination of the registration.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-5 - Filing of advertising and sales literature

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-5-4
Sec. 5.
(a) A copy of
				any:
(1) advertisement;
(2) pamphlet;
(3) circular;
(4) letter;
(5) article;
(6) communication published in any:
(A) newspaper;
(B) magazine; or
(C) periodical;
(7) script of any:
(A) recording;
(B) radio; or
(C) television announcement or
				broadcast;
(8)
				sales-kit;
(9) pitch-kit;
(10) film clip; or
(11) other communication through facsimile or
				other electronic means;
to be used in connection with a registration of securities by
				  qualification must be filed with the commissioner at least five (5) business
				  days prior to issuance, release, circulation, or distribution.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 5 - Reporting Requirements › Section 5-6 - Contents of advertisement, article, or communication relating to registered securities

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-5-4
Sec. 6.
No advertisement, article, or communication relating to
				  securities registered by qualification, published in any newspaper, magazine,
				  pamphlet, or periodical or used in any demonstration or display, recording,
				  radio or television announcement or broadcast, or advertising communicated by
				  means of electronic communication or facsimile shall contain more than the
				  following:
(1) Date of issuance or
				release.
(2) Name and address of
				issuer.
(3) Identity or title of
				securities.
(4) Per unit offering
				price.
(5) Amount of
				offering.
(6) Brief statement of
				the general character of the business.
(7) Address where a prospectus may be
				obtained.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-1 - Maximum commissions

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-6
Sec. 1.
Commissions allowable to broker-dealers and underwriters
				  must in every instance be reasonable and justified and in no case shall exceed
				  twelve and one-half percent (12 1/2%) of the offering price of the security.
				  The following will be considered as commissions for the purpose of this
				  section:
(1) Options, warrants, and
				other transactions or conversion rights reserved or granted in connection with
				the sale of securities.
(2) Payment
				of the underwriter's expenses incident to the offering, including advertising,
				traveling, and promotional expenses.
(3) Any other thing of value accruing to the
				broker-dealer or underwriter.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-2 - Options and warrants; unfair practices

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3
Sec. 2.
The statement of policy on Options and Warrants of the North
				  American Securities Administrators Association, as effective January 1, 2009,
				  is incorporated into this article by reference.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-3 - Promotional shares

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 3.
The statement of policy on Promotional Shares of the North
				  American Securities Administrators Association, as effective January 1, 2009,
				  is incorporated into this article by reference.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-4 - Nonvoting common stock; unfair practices

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 4.
Unless preferential treatment as to dividends and
				  liquidation is provided with respect to the publicly offered securities or the
				  differentiation is otherwise justified, the offering or proposed offering of
				  equity securities of an issuer having more than one (1) class of equity
				  securities authorized or outstanding shall be considered unfair and inequitable
				  to public investors if the class of equity securities offered to the public
				  either has no voting rights or has less than equal voting rights in proportion
				  to the number of shares of each class outstanding on all matters, including the
				  election of members to the board of directors of the issuer.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-5 - Preferred stock and debentures; unfair practices

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-6
Sec. 5.
(a) The
				offering or proposed offering of preferred stock of an issuer shall be
				considered unfair and inequitable to public investors if the net earnings of
				the issuer for its last fiscal year prior to the public offering, exclusive of
				nonrecurring items, are insufficient to pay the dividends on the securities
				proposed to be offered to the public.
(b) The offering or proposed offering of debt
				securities, including:
(1)
				debentures;
(2) notes;
				and
(3) bonds;
of an issuer, shall be considered unfair and inequitable to
				  public investors if the cash flow of the issuer as adjusted for nonrecurring
				  items and the issuance of the debt securities is insufficient to cover the
				  interest on the securities proposed to be offered to the public.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-6 - Offerings of securities with high price to earnings multiples

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-6
Sec. 6.
(a)
				Additional information shall be required to be submitted with the applications
				for registration of equity securities where the proposed offering price exceeds
				a prescribed multiple of recent earnings of the issuer.
(b) In the case of application for
				registration of shares of common stock, where the maximum or proposed offering
				price exceeds a multiple of twenty-five (25) times the net earnings per share
				or another multiple as the commissioner may prescribe from time to time, the
				information prescribed in subsections (c) and (d) shall be submitted with the
				application as justification for the offering price.
(c) Where there is no existing public market
				for the shares, comparative information shall be submitted justifying the
				fairness of the proposed offering price in relation to the current market
				prices of the shares of companies comparable to the issuer in terms of:
(1) size;
(2) industry;
(3) products; and
(4) other relevant factors.
Submission of an underwriter's memorandum on the issuer
				  containing the foregoing information, prepared in connection with the proposed
				  offering, shall satisfy the requirements of this subsection.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-7 - Commissions on installment sales

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 7.
Commissions on installment sales contracts for the purchase
				  of securities shall be charged only to that part of the sales price represented
				  by cash paid in and not deducted entirely from the initial
				  payments.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 6 - Merit Standards › Section 6-8 - Statements of policy

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-3-3; IC
				  23-19-3-4
Sec. 8.
The following statements of policy of the North American
				  Securities Administrators Association, Inc., as effective June 1, 2009, are
				  incorporated into this article by reference:
(1) Cattle-feeding programs.
(2) Church bonds.
(3) Commodity pool programs.
(4) Equipment programs.
(5) Health care facility offerings.
(6) Oil and gas programs.
(7) Real estate investment trusts.
(8) Real estate programs.
(9) Unsound Financial Condition.
(10) Underwriting Expenses and Underwriter's
				Warrants.
(11) Promoter's Equity
				Investment.
(12) Loans and Other
				Material Affiliated Transactions.
(13) Corporate Securities
				Definitions.
(14) Debt
				Securities.
(15) Church Extension
				Fund Securities.
(16) Impoundment
				of Proceeds.
(17) Use of
				Proceeds.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-1 - Safe harbor rule

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-1-2
Sec. 1.
An affiliated person of an issuer will not be deemed to be
				  transacting business as a broker-dealer within the meaning of IC
				  23-19-1-2(3)  if
				  the person effects sales of the issuer's securities in an offering and the
				  person:
(1) has not sold securities of
				the same or another issuer in the twelve (12) months immediately preceding the
				first sale in the offering; or
(2)
				has sold only securities of the same or other affiliated issuers, and the
				issuer and each affiliated issuer is an investment company registered under the
				Investment Company Act of 1940, provided that the associated person restricts
				his or her participation to any one (1) or more of the following activities:
(A) preparing any written communication or
				delivering the communication through the mails or other means that does not
				involve oral solicitation by the associated person of a potential purchaser if
				the content of the communication is approved by:
(i) a partner;
(ii) an officer; or
(iii) a director;
of the issuer;
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-2 - Examination for registration

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 2.
(a) Unless
				specifically exempt, as hereinafter provided, the broker-dealer examinations in
				the form and content prescribed or approved by the commissioner must be taken
				and passed by every principal of a broker-dealer in order to test the
				principal's knowledge of:
(1) the securities
				business;
(2) state securities
				laws; and
(3) the responsibilities
				of a supervisor in the securities business;
before the applicant will be considered eligible for
				  registration.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-3 - Books and records

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-4-1
Sec. 3.
(a) A
				broker-dealer that:
(1) is subject to the
				record keeping requirements of Section 17(a) of the Securities Exchange Act of
				1934 (15 U.S.C.
				78q(a)) ; and
(2) maintains its books and records in
				accordance with those rules;
is not subject to this section.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-4 - Reports made by brokers

Current through July 10, 2024
Authority: IC 23-19-6-5
Affected: IC 23-19-4-1; IC 23-19-4-11
Sec. 4.
(a) For every
				broker-dealer registered under IC 23-19-4, the following are the requirements
				for filing reports:
(1) Every broker-dealer
				subject to this rule shall prepare and submit to the securities division upon
				request reports of financial condition containing the information required:
(A) as of a date within sixty (60) days of
				the date of filing an application for a license as a broker-dealer;
				and
(B) annually as of the close of
				the broker-dealer fiscal year.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-5 - Principal office

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 5.
(a) The
				broker-dealer license shall be displayed prominently at all times at the
				principal place of business of the broker-dealer.
(b) A broker-dealer having its principal
				office in Indiana shall:
(1) be open for the
				transaction of business during regular office hours;
(2) maintain facilities for the reception of
				telephone calls and visits from the public; and
(3) be open for inspection and examination by
				the division.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-6 - Branch offices

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC 23-19
Sec. 6.
(a) Any
				broker-dealer that maintains an office in Indiana must designate another office
				to act as the office of supervisory jurisdiction for that office. Each office
				in Indiana shall be supervised by a person at the office of supervisory
				jurisdiction for that office.
(b)
				The manager of an office of supervisory jurisdiction shall be:
(1) responsible for supervision of the
				offices designated by the broker-dealer; and
(2) qualified by examination as a
				broker-dealer under section 2 of this rule.
Indiana Administrative Code › Title 710 - SECURITIES DIVISION › Article 4 - UNIFORM SECURITIES › Rule 7 - Broker-Dealers › Section 7-7 - Notice of changes in circumstances

Current through July 10, 2024
Authority: IC
				  23-19-6-5
Affected: IC
				  23-19-4-11
Sec. 7.
Every broker-dealer or applicant shall immediately notify
				  the division in writing of any material change in any information, exhibits, or
				  schedules disclosed in its application. A correction amendment shall be filed
				  at the time of, or prior to, the occurrence or discovery of the change.
				  Material changes include, but are not limited to, the following:
(1) Change in:
(A) firm name;
(B) ownership;
(C) management;
(D) control; or
(E) any of its:
(i) partners;
(ii) officers; or
(iii) persons in similar positions.