Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.10 - SECURITIES DEPARTMENT › Subchapter 6.10.3 - Exemptions › Rule 6.10.306 - TRANSACTIONAL EXEMPTIONS FOR COOPERATIVE ASSOCIATIONS

Current through Register Vol. 13, July 5, 2024
(1) A cooperative association organized under
				another state's laws that are substantially the same as the provisions of Title
				35, chapter 15, MCA, is entitled to a transactional exemption from the
				registration requirements of the Montana Securities Act, provided that the
				association has furnished the commissioner with a general written description
				of the security to be offered or sold in Montana. For the purposes of
				33-10-105, MCA, the commissioner
				has determined that the following states' laws authorizing the organization of
				the corresponding types of cooperative organizations are substantially the same
				as the provisions of Title 35, chapter 15, MCA:
(a)
Alabama
Incorporated Marketing Associations
(b)
Alaska
Cooperative Corporations
(c)
Arkansas
Agricultural Cooperative Associations Marketing
							 Associations
(d)
California
Non-profit Cooperative Associations
(e)
Colorado
Cooperative Associations Cooperative Marketing
							 Associations
(f)
Connecticut
Cooperative Marketing Associations
(g)
Florida
Agricultural Cooperative Marketing Associations
(h)
Georgia
Cooperative Marketing Associations
(i)
Hawaii
Agricultural Cooperative Associations
(j)
Idaho
Cooperative Marketing Associations
(k)
Illinois
Co-operative Corporations
(l)
Indiana
Agricultural Cooperatives
(m)
Iowa
Co-operative Associations
(n)
Kansas
Cooperative Associations
(o)
Kentucky
Cooperative Corporations
(p)
Louisiana
Agricultural Co-operative Associations
(q)
Maine
Cooperative Associations
(r)
Massachusetts
Cooperative Agricultural, Dairy or Mercantile
							 Associations
(s)
Michigan
Cooperative Associations
(t)
Minnesota
Cooperatives
(u)
Mississippi
Cooperative Marketing Associations Aquatic Products
							 Marketing Associations
(v)
Missouri
Cooperative Marketing Associations Commodity
							 Associations
(w)
Nebraska
Cooperative Companies
(x)
Nevada
Cooperative Associations
(y)
New Jersey
Agricultural Cooperatives
(z)
New Mexico
Cooperative Associations
(aa)
New York
Cooperative Corporations
(ab)
North Carolina
Cooperative Associations
(ac)
North Dakota
Cooperative Associations
(ad)
Oklahoma
Cooperative Corporations Agricultural Marketing
							 Associations
(ae)
Oregon
Cooperative Corporations
(af)
Ohio
Cooperative Corporations
(ag)
Pennsylvania
Cooperative Corporations
(ah)
Rhode Island
Producers' Cooperatives
(ai)
South Carolina
Cooperative Associations
(aj)
South Dakota
Cooperatives
(ak)
Tennessee
Cooperative Marketing Associations
(al)
Texas
Cooperative Corporations
(am)
Utah
Co-operative Associations
(an)
Vermont
Cooperative Associations
(ao)
Virginia
Cooperative Associations Agricultural Cooperatives
							 Associations
(ap)
Washington
Cooperative Associations
(aq)
West Virginia
Cooperative Associations
(ar)
Wisconsin
Cooperative Associations Agricultural Associations
(as)
Wyoming
Cooperative Marketing Associations
(2)
				For the purposes of
				30-10-105, MCA, a "general written
				description" must include:
(a) citation of
				the state law under which the cooperative is organized;
(b) the type of industry of business in which
				the cooperative is engaged;
(c) a
				general description of the offering, including type of security, price,
				restrictions, if any, on security ownership, and the number of shares to be
				issued;
(d) the purpose of the
				security offering; and
(e) a list
				of states in which the offering will be conducted.