reglab/statecodes huggingface dataset:
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.010 - General

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes general policies and
				  procedures applicable to exemptions from the registration of
				  securities.
(1) The
				commissioner may render interpretative opinions upon the request of applicants
				with respect to the availability of any exemption (section
				409.6-605(d)
				of the Missouri Securities Act of 2003 (the Act)). For fees, see
				15 CSR 30-50.030. The
				opinions of the commissioner do not constitute any approval of the securities
				or transactions concerned and it is unlawful for an applicant to represent to
				any prospective purchaser, customer or client that the commissioner has
				announced approval (section
				409.5-506,
				RSMo).
(2) The burden of proof that
				the offer and sale of large blocks of securities by any person or of any
				securities by controlling persons (15 CSR
				30-50.010(1)(I) ) is not directly or
				indirectly for the benefit of the issuer and therefore eligible for the
				nonissuer exemptions of section
				409.2-202 of
				the Act, is upon the person claiming the exemption (section
				409.5-503,
				RSMo). For purposes of this rule, sales of securities in accordance with rule
				144 or any similar rule promulgated under the Securities Act of 1933 are deemed
				to be not directly or indirectly for the benefit of the issuer.
(3) All issuers who effect sales of
				securities pursuant to the exemptions specified in sections
				409.2-201(7) and
				409.2-203, RSMo, shall preserve the following
				records during the period of six (6) years following the completion of the
				sales:
(A) A copy of the application for the
				exemption and all exhibits to the application;
(B) A copy of all literature by which the
				issuer made disclosure to offerees of the offers for sale;
(C) Original copies of all communications
				received and copies of all communications sent by the issuer pertaining to the
				offer, sale and transfer of the securities, including purchase agreements and
				confirmations; and
(D) A list of
				the names and addresses of all persons to whom the securities were sold, the
				type and amount of securities sold to each, the consideration paid or promised
				by each, the method of payment, for example, cash, check, property, services,
				note and the name of each person(s) who represented the issuer in effecting
				each sale.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.015 - Notice Filings for Investment Companies

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the notice to be filed
				  for investment companies as federal covered securities.
(1) The initial notice required under section
				409.3-302(a), to be
				filed for investment companies, that include an open-end or closed-end
				investment company, unit investment trust or face amount certificate company,
				as those persons are classified in the Investment Company Act of 1940, shall
				consist of the following:
(A) The Uniform
				Investment Company Notice Filing Form (Form NF) and accompanying
				documents;
(B) Form U-2, Consent to
				Service of Process; and
(C) The fee
				described in
				15 CSR 30-50.030.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.020 - Government Issued or Guaranteed Securities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes policies and procedures
				  applicable to filings for the exemption of government issued or guaranteed
				  securities.
(1) Any security
				(including a revenue obligation), for the purposes of section
				409.2-201(1)
				of the Missouri Securities Act of 2003, shall be construed to include loan or
				lease arrangement guarantees, as well as revenue obligations to which they
				relate.
*Original authority: 409.2-201, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.040 - Federal Savings and Loan Association or State Building and Loan or Similar Association Securities

Current through Register Vol. 49, No. 14, July 15, 2024
(Rescinded February 29, 2004)
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.050 - Railroad, Other Common Carrier, Public Utility and Holding Company Securities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes policies applicable to
				  the exemption of securities of railroads, other common carriers, public
				  utilities and holding companies.
(1) A common carrier, for the purposes of
				section
				409.2-201(5)
				of the Missouri Securities Act of 2003 (the Act), shall be construed to include
				a contract carrier (section 3(a)(6), Securities Act of 1933; Section 214,
				Interstate Commerce Act, as amended).
*Original authority: 409.2-201, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.060 - Stock Exchange Listed Securities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes policies applicable to
				  the exemption on approved stock exchanges of securities listed or approved for
				  listing upon notice of issuance.
(1) Stock exchanges specified by or approved
				under section
				409.2-201(6)
				of the Missouri Securities Act of 2003 are as follows:
(A) The Chicago Stock Exchange;
(B) The Chicago Board Options
				Exchange;
(C) Tier I or II of the
				Pacific Stock Exchange; and
(D)
				Tier I of the Philadelphia Stock Exchange, Inc.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.070 - Not-for-Profit Securities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule adopts a new rule that complies
				  with the Missouri Securities Act of 2003 and that describes the terms and
				  conditions of the request for exemption authorization under section
				  409.2-201(7)(B)
				  of the Missouri Securities Act of 2003 that became effective September 1,
				  2003.
PUBLISHER'S NOTE: The secretary of state has
				  determined that the publication of the entire text of the material which is
				  incorporated by reference as a portion of this rule would be unduly cumbersome
				  or expensive. This material as incorporated by reference in this rule shall be
				  maintained by the agency at its headquarters and shall be made available to the
				  public for inspection and copying at no more than the actual cost of
				  reproduction. This note applies only to the reference material. The entire text
				  of the rule is printed here.
(1) The Securities Division will apply the
				applicable statement of policy adopted by the North American Securities
				Administrators Association, Inc. (NASAA) as listed in section (2) below when
				reviewing requests for exemption authorization pursuant to section
				409.2-201(7)(B)
				of the Missouri Securities Act of 2003 (the Act).
(2) The following statements of policy are
				hereby incorporated by reference:
(A) Church
				Bonds as adopted by NASAA on April 14, 2002; and
(B) Church Extension Fund Securities as
				amended and published by NASAA on April 18, 2004. A copy of this policy can be
				obtained from NASAA, 750 First Street, NE, Suite 1140, Washington, DC 20002,
				and is available online at
http://www.nasaa.org/wp-content/uploads/2011/07/39-Church_Extension_Fund_Securities.pdf
.
				This rule does not incorporate any subsequent amendments or
				additions.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.100 - Manual Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment updates recognized securities
				  manuals and policies applicable to nonissuer distributions of securities of
				  issuers reported in the manuals.
(1) For the purpose of the manual exemption
				(section
				409.2-202(2)(D)
				of the Missouri Securities Act of 2003 (the Act)), "nationally recognized
				securities manual or its electronic equivalent" shall mean: Fitch Investors
				Service, Mergent's Investor Service, and OTC Markets Group Inc. with respect to
				securities included on the OTCQX or OTCQB markets.
(2) The exemption specified in section
				409.2-202(2)(D)
				of the Act shall be available only when a recognized manual has contained the
				required information for a period of not less than ninety (90) days prior to
				the transaction.
*Original authority: 409.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.110 - Unsolicited Order to Buy Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes procedures applicable
				  to the exemption of nonissuer transactions effected by or through a registered
				  broker-dealer pursuant to an unsolicited order to buy.
(1) Any purchaser acquiring a security
				pursuant to the exemption specified in section
				409.2-202(6)
				of the Missouri Securities Act of 2003 shall acknowledge in writing that
				his/her order to buy was unsolicited; provided, that no such acknowledgment
				shall be required if the confirmation furnished the purchaser is clearly marked
				"Unsolicited Order" or the broker-dealer furnishes the purchaser before or
				concurrently with the delivery of the confirmation a memorandum stating that
				the transaction is based upon an unsolicited order to buy.
*Original authority: 409.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.120 - Mortgage-Note Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes policies on the
				  availability of the exemption of evidence of indebtedness and the related
				  security documents offered or sold as a unit.
(1) The exemption specified in section
				409.2-202(11)
				of the Missouri Securities Act of 2003 shall not be considered to extend to any
				transaction in a security in the nature of an investment contract or
				profit-sharing agreement.
*Original authority: 409.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.130 - Limited Offering Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the meaning of terms
				  and conditions used in the transac-tional exemption of section
				  409.2-202(14)
				  under the Missouri Securities Act of 2003.
(1) In determining the number of purchasers
				under section
				409.2-202(14)(A),
				RSMo, purchasers shall include as many persons as there are record and
				beneficial owners of equity interests in any corporation, partnership,
				association, joint stock company, trust, limited liability company or
				unincorporated organization or other entity organized for the purpose of owning
				those securities of the issuer or which is merely a medium through or by which
				an individual invests or trades in securities and where that entity has no
				other substantial business. A tenancy by the entirety is one (1)
				person.
(2) General solicitation
				under section
				409.2-202(14)(B),
				RSMo does not include an offer to sell or sale of securities where the offeror
				or the seller is the issuer or an agent of the issuer and the offeror or seller
				has a familial or substantive preexisting relationship with the offeree or
				purchaser.
*Original authority: 404.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.150 - Suggested Form of Investment Letter

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule suggests the form of an investment letter
				  for securities offered pursuant to section
				  409.2-202(14),
				  RSMo
___________________ 20 ______
(Name and Address of Issuer)
Dear Sir or Madam:
This is a statement of my intention to purchase (description
				  of securities) of the (issuer) knowing that said (securities) are not
				  registered for offer or sale under the Missouri Securities Act of 2003 (Chapter
				  409, RSMo).
Pursuant to subsection (D), of section
				  409.2-202(14)
				  of the Missouri Securities Act of 2003, I hereby represent that I am purchasing
				  said (securities) solely for investment and do not intend to divide my
				  participation with others or to resell or otherwise dispose of all or any part
				  of said (securities) in Missouri. In making the foregoing representations I
				  understand that the statutory exemption of section
				  409.2-202(14)
				  of the Missouri Securities Act of 2003 would not be available if I were
				  acquiring said (securities) for resale or other disposition upon the occurrence
				  or nonoccur-rence of some predetermined event.
I acknowledge that the (issuer) is relying on the statutory
				  exemption of section
				  409.2-202(14)
				  of the Missouri Securities Act of 2003, and is basing his/her reliance in part
				  on my said representations.
Further, I acknowledge that, unless said (securities) are
				  registered under the Missouri Securities Act of 2003, I may not resell,
				  hypothecate, transfer or assign or make other disposition of said (securities)
				  in the state of Missouri, except in transactions exempted from the registration
				  requirements of the Act.
I have received and examined financial statements of the
				  (issuer) for the (period or periods) and (other data) which I consider
				  sufficient to enable me to form a decision concerning my purchase.
____________________________________
(Name and Address of Purchaser)
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.170 - Preeffective Offer Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes policies applicable to
				  the availability of transactional exemptions to offers of securities as to
				  which registration statements have been filed under both the Securities Act of
				  1933 and Chapter 409, RSMo.
(1) The exemption specified in section
				409.2-202(16)
				of the Missouri Securities Act of 2003 (the Act) shall not be available to any
				offer made after the later of either effectiveness of registration under the
				Act or effectiveness of the registration statement filed under the Securities
				Act of 1933.
*Original authority: 409.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.175 - Solicitation of Interest

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the procedures and the
				  record that needs to be provided to offerees to comply with section
				  409.2-202(17)
				  of the Missouri Securities Act of 2003.
(1) Scope of the Exemption. The solicitation
				of interest exemption under section
				409.2-202(17)
				of the Missouri Securities Act of 2003 (the Act) is only available to issuers
				that are eligible and relying on an exemption under the Securities Act of
				1933.
(2) Form and Content. The
				record to offerees shall consist of a preliminary offering document that meets
				the following requirements:
(A) The outside
				front cover page shall comply with subsection 230.255(a)(1) of regulation A
				under the Securities Act of 1933 or shall state-
A registration statement pursuant to the Missouri Securities
				  Act of 2003 relating to these securities has been filed with the Missouri
				  Securities Division. This Preliminary Offering Document is being distributed
				  pursuant to the exemption under section
				  409.2-202(17)
				  of the Missouri Securities Act of 2003. Information contained in this
				  Preliminary Offering Document is subject to completion or amendment. These
				  securities may not be sold nor may offers to buy be accepted prior to the time
				  an offering document which is not designated as a Preliminary Offering Document
				  is delivered and the offering statement filed with the Division becomes
				  qualified. This Preliminary Offering Document shall not constitute an offer to
				  sell or the solicitation of an offer to buy. Under no circumstances shall the
				  issuer collect any funds for the securities while relying upon the exemption
				  under section
				  409.2-202(17)
				  of the Missouri Securities Act of 2003. and
(B) The preliminary offering document shall
				contain substantially the information required in an offering circular under
				the form 1-A or form U-7.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.183 - Exemption for Reporting Company Securities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the circumstances under
				  which certain transactions in securities of reporting companies are exempted
				  from the registration requirements of the Missouri Securities Act of
				  2003.
(1) The exemption
				specified in section
				409.2-202(4)
				of the Missouri Securities Act of 2003 shall be available only when the reports
				filed under Section 13 of the Securities Exchange Act of 1934 have been on file
				for a period of not less than ninety (90) days prior to the
				transaction.
*Original authority: 409.2-202, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.190 - New Generation Processing Entity Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule complies with the Missouri
				  Securities Act of 2003 and prescribes the qualifications for the exemption
				  under the Missouri Securities Act of 2003 for securities issued by and
				  representing an interest in a new generation processing entity.
(1) Definition. A "new generation processing
				entity" shall be defined as an "eligible new generation processing entity" as
				defined under section 348.432.1(4), RSMo which defines the term as a
				partnership, corporation, cooperative, or limited liability company organized
				or incorporated pursuant to the laws of this state consisting of not less than
				twelve (12) members, approved by the Missouri Agricultural and Small Business
				Development Authority, for the purpose of owning or operating within this state
				a development facility or a renewable fuel production facility in which
				producer members:
(A) Hold a majority of the
				governance or voting rights of the entity and any governing
				committee;
(B) Control the hiring
				of management; and
(C) Deliver
				agricultural commodities or products to the entity for processing, unless
				processing is required by multiple entities.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.195 - Missouri Agricultural Cooperatives

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule complies with the Missouri
				  Securities Act of 2003 and prescribes the qualifications for the exemption
				  under the Missouri Securities Act of 2003 for securities issued by and
				  representing an interest in a Missouri agricultural
				  cooperative.
(1) Definition.
				An "agricultural cooperative" shall be defined as a cooperative corporation
				organized under the Missouri Nonprofit Cooperative Marketing Law, in which
				farmers act together-
(A) In processing,
				preparing for market, handling, and/or marketing the farm products of person so
				engaged; or
(B) In purchasing,
				testing, grading, processing, distributing and/or furnishing farm supplies
				and/or farm business services; provided, however, that such cooperative
				corporations are operated for the mutual benefit of the members thereof as such
				producers or purchasers and conform to one (1) or both of the following
				requirements:
1. No member of the cooperative
				corporation is allowed more than one (1) vote because of the amount of stock or
				membership capital s/he may own therein;
2. The cooperative corporation does not pay
				dividends on stock or membership capital in excess of eight percent (8%) per
				year; and
3. The cooperative
				corporation does not deal in farm products, farm supplies, and farm business
				services with or for nonmem-bers in an amount greater in value than the total
				amount of such business transacted by it with or for members; further, all
				business transacted by any such cooperative corporation for or on behalf of the
				United States or any agency or instrumentality thereof shall be disregarded in
				determining the volume of member and nonmember business transacted by such
				agricultural cooperative corporation.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.200 - Transactional Exemption for Oil, Gas or Mining

Current through Register Vol. 49, No. 14, July 15, 2024
(Rescinded November 11, 1984)
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.205 - Notice Filing Requirement for Regulation A-Tier 2 Offering

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the policies and
				  procedures applicable to offerings made in Missouri under Tier 2 of federal
				  Regulation A and Section 18(b)(3) or Section 18(b)(4) of the Securities Act of
				  1933.
(1) Initial filing. The
				initial notice filing is effective for twelve (12) months from the date of the
				filing with this state. An issuer intending to offer and sell securities in
				this state in reliance on an exemption under Tier 2 of federal Regulation A
				shall file the following with the commissioner:
(A) Copies of all documents filed with the
				Securities and Exchange Commission, including Form 1-A;
(B) A cover letter providing the date on
				which the first sale of securities had occurred in Missouri or whether no sales
				have yet occurred in Missouri;
(C)
				A consent to service of process on Form U-2; and
(D) The filing fee of one hundred dollars
				($100) as prescribed by section
				409.3-302(e).
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.210 - Notice Filings for Transactions under Regulation D, Rule 506

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the policies and
				  procedures applicable to transactions in Missouri under Regulation D, Rule
				  506.
(1) Rule 506. The issuer shall file a notice under
				section
				409.3-302(c),
				RSMo, as stated in sections (2) and (3)
				below.
(2) Notice Filings for Rule 506. The notice filing
				required for transactions in Missouri under
				17
				CFR 230.506, unless the securities or
				transactions would qualify for an exemption under sections
				409.2-201,
				409.2-202, or
				409.2-203
				of the Act, shall meet the requirements of subsection (A) or (B).
(A) Paper Filing. A paper filing shall be
				made with the commissioner and shall consist of-
1. One (1) paper copy of the electronic Form
				D filed with the SEC;
2. The filing
				fee of one hundred dollars ($100) as described in
				15 CSR 30-50.030;
				and
3. A cover letter stating the
				date on which the first sale of securities had occurred in Missouri or whether
				no sales have yet occurred in Missouri.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.250 - Missouri Qualified Fund Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule provides an exemption for
				  securities offered pursuant to section
				  100.390,
				  RSMo when certain conditions are met.
(1) The commissioner, pursuant to the
				provisions of 409.2-203, RSMo, exempts the following securities from the
				requirements of sections
				409.3-301
				and
				409.5-504
				of the Missouri Securities Act of 2003 (the Act):
(A) Any securities issued by a qualified fund
				as defined in section
				100.390,
				RSMo which shall be approved by one (1) or more qualified economic development
				organizations after a review by the Department of Economic Development and
				provided that the securities are sold pursuant to a disclosure document which
				has been filed with the Missouri commissioner of securities thirty (30) days
				prior to the offer or sale of the securities. The prospectus shall state on its
				cover in bold type that this is a high risk, speculative investment and that
				these securities are not approved by, guaranteed by or associated with
				Missouri;
(B) No commission or
				other remuneration may be paid or given directly or indirectly for soliciting
				or selling to any person in this state for reliance on this exemption except to
				securities brokers, dealers and agents licensed in this state;
(C) The applicants shall file with the
				commissioner a copy of the offering document, together with a fee of one
				hundred dollars ($100), as well as a copy of the contract with the economic
				development center which has approved the qualified fund; and
(D) The qualified fund shall make the
				following provisions:
1. No officer, director
				or employee of the fund shall have any interest in a company receiving money
				from the fund;
2. The fund agrees
				to seek input from the innovation center in its review of investment;
3. The fund would require any company
				receiving funding from it to agree to be a client of the innovation center at
				the discretion of the innovation center;
4. The fund would submit quarterly reports to
				the innovation center on the progress of the companies the fund invested in;
				and
5. Investors in the fund shall
				have an annual gross income of at least sixty thousand dollars ($60,000) and
				net worth of sixty thousand dollars ($60,000) or one hundred twenty thousand
				dollars ($120,000) net worth, exclusive of home, home furnishings and
				automobiles.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.260 - Foreign Issuer Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment reflects the name change of a
				  financial services company.
(1) The commissioner, pursuant to the
				provisions of section
				409.2-203,
				RSMo, of the Missouri Securities Act of 2003 (the Act), exempts the following
				transactions from the requirements of sections
				409.3-301
				and
				409.5-504
				of the Act:
(A) Any non-issuer transaction by
				a registered broker-dealer in a security traded on a foreign stock exchange,
				foreign automated quotation system, or an American Depository Receipt;
				provided-
1. The security is sold at a price
				reasonably related to the current market price of that security at the time of
				the transaction;
2. The security
				does not constitute the whole or part of an unsold allotment to, or
				subscription or participation by, the broker-dealer as an underwriter of that
				security; and either
3. The
				securities qualify for inclusion on the list of foreign margin stocks compiled
				by the United States Federal Reserve Board and meet the requirements of section
				220.11(c)1-5 of Regulation T under the Securities Exchange Act of 1934;
				or
4. At the time of the
				transaction, Mergent's Investor Service, Mergent's International Manual, or,
				with respect to securities included on the OTCQX or OTCQB markets, OTC Markets
				Group Inc. contains a description of the issuer's business or operations, the
				names of the issuer's officers and directors or their corporate equivalents in
				the issuer's country of domicile, an audited balance sheet of the issuer as of
				a date within eighteen (18) months, and audited profit and loss statements for
				each of the issuer's two (2) fiscal years immediately preceding that date;
				or
5. The security is senior in
				rank to the common stock of the issuer, both as to interest or dividends and
				upon liquidation, and the security has been outstanding in the hands of the
				public for at least five (5) years and the issuer has not defaulted during the
				current fiscal year or within the five (5) preceding years of the payment of
				principal, interest, or dividend on the security;
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 54 - Exemptions and Federal Covered Securities › Section 15 CSR 30-54.290 - Canadian-United States Cross-Border Trading Exemption

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes transactions exempted
				  pursuant to section
				  409.2-203,
				  RSMo, for Canadians who are temporarily a resident in or visiting this state
				  and persons in the state who are holders of or contributors to Canadian
				  self-directed tax advantaged retirement accounts.
(1) Any offer or sale of a security effected
				by a Canadian broker-dealer exempted from broker-dealer registration pursuant
				to
				15
				CSR 30-51.180 is exempted from the securities
				registration requirements of section
				409.3-301,
				RSMo.
*Original authority: 409.2-203, RSMo 2003; 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.010 - Who May Request

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets out who may request hearings
				  upon matters under the Missouri Securities Act.
(1) Hearings Before Commissioner.
(A) In all contested cases under Chapter 409,
				RSMo, including matters involving discipline or disqualification of
				broker-dealers, agents, investment advisers, or investment adviser
				representatives under section
				409.4-412,
				RSMo, or administrative enforcement under section
				409.6-604,
				RSMo, the Enforcement Section of the Securities Division may initiate the
				matter by submitting to the commissioner a petition for administrative relief.
				The commissioner may act summarily if authorized by law, or may give notice and
				set the matter for hearing. Any hearing shall be governed by Chapter 536, RSMo.
				No order of revocation or suspension under section
				409.4-412(b),
				RSMo, may be issued by the commissioner,
				unless the matter has been referred to the Administrative Hearing Commission as
				provided in subsection (2)(B).
(B)
				Any person aggrieved by a suspension or denial of an application summarily for
				a broker-dealer, agent, investment adviser, or investment adviser
				representative registration pursuant to section
				409.4-412(f),
				RSMo may request a hearing before the commissioner. The hearing shall be
				governed by Chapter 536, RSMo.
(C)
				Any person aggrieved by the denial, suspension, postponement or revocation of a
				securities registration summarily, or the denial or revocation of exemptions
				from registration may request a hearing before the commissioner. Pursuant to
				section
				409.3-306(d),
				RSMo the hearing shall be governed by Chapter 536, RSMo.
(D) Any person aggrieved by the denial,
				revocation, suspension, summary postponement or summary suspension of a
				commodity broker-dealer or sales representative registration under the Missouri
				Commodities Code, sections 409.800-409.863, RSMo may request a hearing before
				the commissioner. The hearing shall be governed by Chapter 536, RSMo.
(E) Any person aggrieved by an order issued
				by the commissioner pursuant to Chapter 409, RSMo, and not afforded an
				opportunity for hearing prior to the issuance of the order may request a
				hearing before the commissioner, except those provided for in subsection
				(2)(A). The hearing shall be governed by Chapter 536, RSMo.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.020 - Instituting Hearing Before the Commissioner

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the form and content of
				  the request for hearing, time for filing, number of copies to be filed, the
				  order of hearing, and how notice will be served.
(1) Request for Hearing. A request for
				hearing shall be filed with the commissioner by any party or interested person
				aggrieved by any order or refusal to make an order under this chapter. Any
				request for hearing shall contain:
(A) A brief
				statement of the facts;
(B) A
				summary of factual and legal issues involved;
(C) A request for relief;
(D) Suggestions in support of relief sought
				including relevant statutes;
(E)
				The name of the party requesting the hearing; and
(F) The name of attorney representing the
				party, if any.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.025 - General Prehearing Procedures

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment allows for service of
				  documents via electronic mail with the consent of the parties.
(1) Rules of Procedure. The hearings before
				the commissioner and Administrative Hearing Commission are governed by Chapter
				536, RSMo. The commissioner and Administrative Hearing Commission may also be
				guided by the Missouri Rules of Civil Procedure.
(2) Place of Filing. If the matter is to be
				heard by the commissioner, all pleadings shall be filed with the commissioner.
				If the matter is to be heard by the Administrative Hearing Commission, all
				pleadings must be filed with the commission. The party filing pleadings or
				documents shall serve by mail or, by consent of the parties, electronic mail,
				copies of all filed pleadings or documents on all parties.
(3) Continuances. The commissioner shall
				grant written requests for continuances upon good cause shown. A hearing shall
				be held no later than ninety (90) days after the request for hearing unless a
				later date is agreed to by all parties to the matter, or justice requires a
				continuance, and the commissioner by order continues the hearing.
*Original authority: 409.6-605, RSMo 2003; 409.836, RSMo
					 1985.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.030 - Answers and Supplementary Pleadings

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the form and content of
				  the answer and supplementary pleadings and how they shall be
				  filed.
(1) Answers.
(A) Matters Prosecuted by Securities Division
				Before the Commissioner. In any proceeding in which the Securities Division has
				filed a petition with the commissioner, a party challenging the factual basis
				for an order shall file an answer to allegations made by the Securities
				Division in its petition. The answer shall be filed within thirty (30) days of
				receipt of the hearing order, unless the commissioner orders additional time.
				All answers shall be in writing and should admit those portions of the petition
				which respondent believes are true and deny those portions of the petition
				which respondent believes are not true. The answer shall contain a short and
				concise statement of those facts, which the respondent believes are true and
				relevant to the issues raised in the complaint. The respondent or legal counsel
				must sign the answer.
(B) Matters
				Prosecuted by Others Before the Commissioner. In those cases where an applicant
				has filed a petition and the Securities Division files an answer, the answer
				shall set forth the factual and legal basis for the action of the commissioner.
				Unless the answer specifically pleads that petitioner has failed to comply with
				15 CSR
				30-55.020, objections for failure to comply will be
				deemed as waived by the Securities Division. Absent a showing that the division
				has complied with the law and these rules, no complaint of an applicant shall
				be dismissed without a hearing on the merits.
(C) Matters Prosecuted by the Securities
				Division Before the Administrative Hearing Commission. In any proceeding that
				the commissioner has referred to the Administrative Hearing Commission, the
				respondent shall file an answer within ten (10) days after respondent receives
				a copy of the complaint. However, the failure to file an answer within the time
				provided in this rule will not prevent the Administrative Hearing Commission
				from holding a prehearing conference or a hearing at the time and place
				specified in the notice. Neither will the failure to file an answer divest the
				commissioner or Administrative Hearing Commission of jurisdiction to render a
				decision in the case.
(D) Matters
				Prosecuted by Others Before the Administrative Hearing Commission. In those
				cases where an applicant has filed a petition and the commissioner files an
				answer, the answer shall set forth the factual and legal basis for the action
				of the commissioner.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.040 - Notice of Hearing

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets out the timing and content of
				  the notice of hearing.
(1)
				Immediately upon setting a hearing, the commissioner or Administrative Hearing
				Commission shall serve notice by mail on all parties to the matter. Service of
				notice shall be made by mailing a copy of the hearing order required by
				15 CSR
				30-55.020(4) to all parties. If a
				party cannot be reached at the last known address, notice shall be given by
				publication pursuant to Missouri Rule of Civil Procedure 54.17.
(2) The commissioner may serve notice of the
				hearing on any person the commissioner determines should have notice of the
				hearing.
(3) If there is a large
				group whose rights would be affected by the proceeding, notice will be given to
				a sufficient number of class members as the commissioner determines will give
				adequate notice to the class.
*Original authority: 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.050 - Prehearing Conferences

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the setting and subject
				  matter of the prehearing conference.
(1) Setting.
(A) In proceedings before the commissioner
				all prehearing conferences shall be held within thirty (30) days of the hearing
				order issued by the commissioner, unless continued by the commissioner for good
				cause.
(B) In proceedings before
				the Administrative Hearing Commission, any party or legal counsel may petition
				the Administrative Hearing Commission to hold a prehearing conference at a time
				prior to the setting of a conference by order of the commission.
(C) The legal counsel who will actually
				handle the hearing shall be present at all pre-hearing conferences, unless
				excused by the commissioner or Administrative Hearing Commission. Parties to an
				action may appear in person with counsel at a prehearing conference.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.060 - Public Hearing

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment is removing a sentence
				  regarding appearance of the parties, which is addressed in a new proposed
				  rule.
All hearings shall be open to the public. Notice of the
				  hearing will be posted prominently in the Office of the Secretary of State,
				  Securities Division, Missouri State Information Center, Room 229, 600 W. Main,
				  Jefferson City, MO 65101.
*Original authority: 409.6-605, RSMo
					 2003.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.065 - Appearance Before the Commissioner

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule provides for the appearance of
				  parties in matters before the commissioner.
(1) Any party that files a request for
				hearing pursuant to 15 CSR 3055.020(1) is required to appear in person at the
				hearing scheduled under
				15 CSR
				30-55.020(4). Failure to appear at
				the time and location designated in the hearing order provides grounds for the
				commissioner to sanction the non-appearing party. The commissioner may utilize
				discretion in imposing such sanction, including, but not limited to, refusing
				to allow the party to support or oppose claims or defenses, striking pleadings,
				not allowing the introduction of evidence or the examination of witnesses, and
				finding the party in default.
(2)
				It is not sufficient for an individual to appear through counsel.
(3) Any entity that is a party must be
				represented by a Missouri-licensed attorney.
(4) The Enforcement Section must be
				represented by a Missouri-licensed attorney who is a designee of the
				Commissioner.
(5) The commissioner
				may allow a party to appear via other means or to appear through an attorney.
				Any motion for such must be filed fifteen (15) days prior to the date of the
				hearing scheduled under
				15 CSR
				30-55.020(4).
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.070 - Record of Hearing Before the Commissioner

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule states what shall be included in
				  the record of the hearing.
(1) Pursuant to section
				536.070,
				RSMo, the commissioner will cause all proceedings to be suitably recorded
				either electronically or by court reporter.
(2) Upon the request and at the expense of
				any party to the proceeding, the commissioner will cause the hearing to be
				transcribed. Any other party may obtain a copy of the transcript upon payment
				of the costs of preparation.
(3)
				The record for judicial review will contain:
(A) If requested and paid for by the
				requesting party, the transcript of any proceedings;
(B) All petitions, answers, motions,
				discovery pleadings, and other materials or documents filed by any party with
				or subsequent to the request for hearing;
(C) All documents and exhibits submitted as
				evidence;
(D) All matters
				officially noticed;
(E) Formal
				questions and offers of proof, objections and rulings; and
(F) All written decisions and orders of the
				commissioner including his/her findings of fact, conclusions of law, and final
				order.
Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 55 - Hearings Under Securities Act › Section 15 CSR 30-55.080 - Discovery

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule outlines procedures for, and
				  permits time limits on, discovery.
(1) Discovery Schedule. The commissioner or
				the Administrative Hearing Commission may issue orders setting reasonable time
				limits for completion of discovery and may shorten or lengthen the time parties
				have to file answers to discovery requests.
(2) Interrogatories. Any party may serve upon
				any other party written interrogatories, upon and under the same conditions, as
				in civil actions in the circuit court pursuant to Missouri Rules of Civil
				Procedure, Rule 57, except as limited by section
				536.073,
				RSMo.
(3) Depositions. Any party
				may take and use depositions in the same manner, upon and under the same
				conditions, as in civil actions in the circuit court pursuant to Missouri Rules
				of Civil Procedure, Rule 57, except as limited by section
				536.073,
				RSMo.
(4) Requests for Production
				of Documents and Things. Any party may serve upon any other party a request for
				documents and things, upon and under the same conditions, as in civil actions
				in the circuit court pursuant to Missouri Rules of Civil Procedure, Rule 58,
				except as limited by section
				536.073,
				RSMo.
(5) Admission of Facts and of
				Genuineness of Documents. Any party may serve upon any other party a written
				request for the admission of facts or of the genuineness of documents, upon and
				under the same conditions, as in civil actions in the circuit court pursuant to
				Missouri Rules of Civil Procedure, Rule 59, except as limited by section
				536.073,
				RSMo.
(6) Enforcement of Discovery:
				Sanctions. The commissioner or the Administrative Hearing Commission may
				enforce discovery or sanction parties, upon and under the same conditions, as
				in civil actions in the circuit court pursuant to Missouri Rules of Civil
				Procedure, Rule 61, except as limited by section
				536.073,
				RSMo.
*Original authority: 409.6-605, RSMo
					 2003.