reglab/statecodes huggingface dataset:
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 50 - POLICE AND FIREMEN; GENERAL › Section 80-50-7 - Application of Kansas public employees retirement system rules and regulations

Current through Register Vol. 43, No. 28, July 11, 2024
Except as otherwise provided by law or these rules and regulations, the rules and regulations of the Kansas public employees retirement system shall apply to the Kansas police and firemen's retirement system, insofar as the same are pertinent and applicable to the Kansas police and firemen's retirement system.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 50 - POLICE AND FIREMEN; GENERAL › Section 80-50-9 - Local police or firemen's pension system defined

Current through Register Vol. 43, No. 28, July 11, 2024
The phrase "local police or firemen's pension system" will be defined as meaning a system established under the provisions of K.S.A. 13-14a01  to 13-14a14  or K.S.A. 14-10a01  to 14-10a15  or other pension systems specifically designated by the Kansas legislature.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 51 - POLICE AND FIREMEN; MEMBERSHIP › Section 80-51-4 - Membership of a sheriff

Current through Register Vol. 43, No. 28, July 11, 2024
In accordance with K.S.A. 74-4955(4), and amendments thereto, to become a member, a sheriff shall file a written election on or before first taking office or the entry date of the sheriff's employer, whichever is later.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 51 - POLICE AND FIREMEN; MEMBERSHIP › Section 80-51-6 - Membership, leave of absence on entry date

Current through Register Vol. 43, No. 28, July 11, 2024
It shall be the participating employer's responsibility to file with the retirement system within fifteen (15) days after the entry date, a list of all employees on any officially authorized and approved leave of absence on entry date, giving the beginning date, the purpose, the period of time, and where available, copies of the documents authorizing or approving such leaves. Any former employee of a participating employer who returns to such employment and who is not listed on such a list shall be treated as a new employee for retirement system purposes.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 53 - POLICE AND FIREMEN; CREDIT AND BREAKS IN SERVICE › Section 80-53-1 - Prior service credit

Current through Register Vol. 43, No. 28, July 11, 2024
(a) A member will receive prior service credit for service with his entry date employer whether as a policeman, a fireman or in some other capacity. For the purpose of determining service, employment in any part of a month shall be considered service for the month.
(b) Prior service credit for prior employment with the entry date employer other than as a policeman or fireman will be granted on the following basis:
(1) For each 24 months of such employment 12 months of service credit;
(2) Such prior service credit will be granted only for blocks of 24 months of such employment.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 55 - POLICE AND FIREMEN; RETIREMENT › Section 80-55-7 - Benefits, eligibility for, years of service

Current through Register Vol. 43, No. 28, July 11, 2024
For the purpose of computing the number of years of service to determine the eligibility of a member for any benefit, the years and months of credited prior service and the years and quarters of credited participating service shall be combined before rounding to the nearest whole year.
Kansas Administrative Regulations › Agency 80 - KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM › Article 55 - POLICE AND FIREMEN; RETIREMENT › Section 80-55-8 - Retirement allowance calculation; basis of

Current through Register Vol. 43, No. 28, July 11, 2024
The following procedure shall be used for the purpose of determining the basis of the retirement allowance calculation.
(a) Months of prior service credited to a member shall be divided by 12 to arrive at the total number of years; any decimal remainder shall be converted to quarters. Quarters of participating service credited to a member shall be divided by four to arrive at the total number of years and quarters. Total prior service years and quarters shall be added to total participating service years and quarters, including all purchased service, to arrive at the total number of years and quarters available. If the remainder is two quarters or more, it shall be counted as an additional year; if the remainder is fewer than two quarters, it shall be disregarded.
(b) For the determination of "final average salary," a year shall consist of a four-quarter block of credited service in the last five years of service, whether continuous or not. The four quarters selected shall be taken in sequence, as earned, not selected at random.
(c) The last quarter of compensation before the member's retirement date may be excluded if the member's retirement benefit would be adversely affected by including this quarter of compensation.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 2 - FILING, FEES AND FORMS › Section 81-2-1 - Forms and adoptions by reference

Current through Register Vol. 43, No. 28, July 11, 2024
(a)
					Forms. Whenever any of these regulations requires the filing of any of the
					following forms, the filer shall use the form as issued or approved by the
					administrator:
(1) Uniform forms:
FORM
TITLE
ADV
Uniform application for investment adviser registration
ADV-W
Notice of withdrawal from registration as investment
										adviser
BD
Uniform application for broker-dealer registration
BDW
Uniform request for broker-dealer withdrawal
D
Notice of exempt offering of securities
NF
Uniform investment company notice filing
U-1
Uniform application to register securities
U-2
Uniform consent to service of process
U-2A
Uniform form of corporate resolution
U-4
Uniform application for securities industry registration
										or transfer
U-5
Uniform termination notice for securities industry
										registration
U-7
Disclosure document
Model accredited investor exemption uniform notice
											of transaction
(2)
					Kansas forms:
FORM
TITLE
IKE
Notice of reliance on the invest Kansas exemption
KSC-1
Sales report or renewal application
KSC-15
Solicitation of interest form for issuers organized or
										based in Kansas
(3)
					SEC forms:
FORM
TITLE
1-A
Regulation A offering statement under the securities act
										of 1933
S-1
Registration statement under the securities act of 1933
X-17A-5
FOCUS report (financial and operational combined uniform
										single report)
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 3 - LICENSING; BROKER-DEALERS AND AGENTS › Section 81-3-1 - Registration procedures for broker-dealers and agents

Current through Register Vol. 43, No. 28, July 11, 2024
(a) General provisions. Each applicant shall
					be at least 18 years of age. If the applicant is not an individual, then the
					directors, officers, managing partners, or managing members of the applicant
					shall be at least 18 years of age.
(b) Registration requirements for
					broker-dealers.
(1) Initial application.
(A) CRD filing requirements. Each applicant
					for initial registration as a broker-dealer shall complete form BD in
					accordance with the form instructions and shall file the form with the CRD,
					unless the applicant is not required to file with the CRD for FINRA membership
					or SEC registration. Each application filed with the CRD shall include the
					following:
(i) The registration fee specified
					in   K.A.R. 81-3-2(a);
(ii) any
					reasonable fee charged by FINRA for filing through the CRD system;
					and
(iii) a current list of the
					addresses of all branch offices and the names of all branch
					supervisors.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 3 - LICENSING; BROKER-DEALERS AND AGENTS › Section 81-3-2 - Broker-dealer and agent registration fees

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The fee for
			 initial registration or renewal of the registration of each broker-dealer shall
			 be $200.
(b) The fee for initial
			 registration or renewal of the registration of each agent shall be
			 $60.
(c) The CRD shall be
			 authorized to receive and store filings and to collect the fees specified in
			 this regulation from broker-dealers and agents on behalf of the
			 administrator.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 3 - LICENSING; BROKER-DEALERS AND AGENTS › Section 81-3-5 - Sales of securities at financial institutions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Definitions. For purposes of this
					regulation, the following definitions shall apply:
(1) "Affiliate" means a company that
					controls, is controlled by, or is under common control with a broker-dealer as
					defined in FINRA rule 5121, which is adopted by reference in   K.A.R.
					81-2-1.
(2) "Broker-dealer
					services" means the investment banking or securities business that is conducted
					by a broker-dealer or a municipal or government securities broker or dealer
					other than a financial institution or department or division of a financial
					institution and consists of any of the following:
(A) Underwriting or distributing issues of
					securities;
(B) purchasing
					securities and offering the securities for sale as a dealer; or
(C) purchasing and selling securities upon
					the order and for the account of others.
(3) "Financial institution" means any
					federal-chartered or state-chartered bank, savings and loan association,
					savings bank, credit union, and any service corporation of these institutions
					located in Kansas.
(4) "Networking
					arrangement" and "brokerage affiliate arrangement" mean a contractual or other
					arrangement between a broker-dealer and a financial institution pursuant to
					which the broker-dealer conducts broker-dealer services on the premises of the
					financial institution where retail deposits are taken.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 3 - LICENSING; BROKER-DEALERS AND AGENTS › Section 81-3-6 - Dishonest or unethical practices of broker-dealers and agents

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Unethical conduct. "Dishonest or
					unethical practices," as used in K.S.A. 17-12a412(d)  (13) and amendments
					thereto, shall include the conduct prohibited in this regulation and the
					failure to adhere to standards of conduct specified in this
					regulation.
(b) Fraudulent conduct.
					"An act, practice, or course of business that operates or would operate as a
					fraud or deceit," as used in K.S.A. 17-12a501(3)  and amendments thereto, shall
					include the conduct prohibited in paragraphs (e)(9)(A), (9)(B), (10), (11),
					(14) through (18), (20), (21), (24), and (27), paragraphs (f)(1) through (6),
					and subsections (g) and (i).
(c)
					General standard of conduct. A person registered as a broker-dealer or agent
					under the act shall not fail to observe high standards of commercial honor and
					just and equitable principles of trade in the conduct of the person's
					business.
(d) FINRA, NASD, New York
					stock exchange, and SEC rules and laws. Failure by a person registered as a
					broker-dealer or agent under the act to comply with any of the following rules
					and laws, as adopted by reference in   K.A.R. 81-2-1,  shall constitute unethical
					conduct in violation of this regulation:
(1)
					NASD conduct rules within the series of rules 2300, 2400, 2500, 2700, 2800,
					3000, and 3100 and FINRA rules within the series of rules 2100, 2200, 2300,
					3100, 3200, 3300, 5100, 5200, and 5300;
(2) rule 472 of the New York stock exchange,
					"communications with the public";
(3) section 17 of the securities act of 1933,
					 15 U.S.C. §
										77 q;
(4) sections
					9 and 10 of the securities exchange act of 1934,  15 U.S.C. §§ 78 i and
					78j;
(5) SEC regulation M,  17
					C.F.R. 242.100  through  242.105;
(6)
					SEC regulation SHO,  17 C.F.R. 242.200  through  242.203; and
(7) SEC regulation FD,  17 C.F.R. 243.100 through  243.103.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 3 - LICENSING; BROKER-DEALERS AND AGENTS › Section 81-3-7 - Supervisory, financial reporting, recordkeeping, net capital, and operational requirements for broker-dealers

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Supervision.
(1) Annual review. Each broker-dealer shall
					conduct a review, at least annually, of the businesses in which it engages. The
					review shall be reasonably designed to assist in detecting and preventing
					violations of and achieving compliance with the act, these regulations, and
					other applicable laws, regulations, and rules of self-regulatory
					organizations.
(2) Supervisory
					procedures. Each broker-dealer shall establish and maintain supervisory
					procedures that shall be reasonably designed to assist in detecting violations
					of, preventing violations of, and achieving compliance with the act, these
					regulations, and other applicable laws, regulations, and rules of
					self-regulatory organizations. In determining whether supervisory procedures
					are reasonably designed, relevant factors including the following may be
					considered by the administrator:
(A) The
					firm's size;
(B) the organizational
					structure;
(C) the scope of
					business activities;
(D) the number
					and location of offices;
(E) the
					nature and complexity of products and services offered;
(F) the volume of business done;
(G) the number of agents assigned to a
					location;
(H) the presence of an
					on-site principal at a location;
(I) the specification of the office as a
					non-branch location; and
(J) the
					disciplinary history of the registered agents.
(3) Supervision of non-branch offices. The
					procedures established and the reviews conducted shall provide sufficient
					supervision at remote offices to ensure compliance with all applicable
					securities laws and regulations and self-regulatory organization rules. Based
					on the factors specified in paragraph (a)(2), certain non-branch offices may
					require more frequent reviews or more stringent supervision.
(4) Failure to supervise. If a broker-dealer
					fails to comply with this subsection, the broker-dealer may be deemed to have
					"failed to reasonably supervise" its agents under K.S.A. 17-12a412(d)(9), and
					amendments thereto.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 4 - REGISTRATION OF SECURITIES › Section 81-4-1 - Registration of securities

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Original
					applications. The following documents and fee shall be required with each
					original application submitted for registration of securities:
(1) Forms U-1 and U-2;
(2) form U-2A, if applicable;
(3) the documents and exhibits required for
					registration by coordination as specified in K.S.A. 17-12a303(b), and
					amendments thereto, or registration by qualification as specified in K.S.A.
					17-12a304(b), and amendments thereto, if not already included as required by
					form U-1;
(4) any other document or
					information requested by the administrator; and
(5) a registration fee of .05 percent (one
					twentieth of one percent) of the maximum aggregate offering price at which the
					securities are to be offered in this state, but not less than $100 and not more
					than $1,500 for each year that the registration is effective. If a registration
					statement or application is withdrawn before the effective date or a
					pre-effective stop order is issued under K.S.A. 17-12a306  and amendments
					thereto, the administrator shall retain the full amount of the registration
					fee.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 4 - REGISTRATION OF SECURITIES › Section 81-4-2 - Small company offering registration (SCOR)

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Any application
			 for registration of securities by qualification may be filed using form U-7 as
			 the disclosure document if the issuer complies with the statement of policy
			 regarding small company offering registration ("SCOR statement of policy")
			 adopted by NASAA on April 28, 1996, which is hereby adopted by reference.
(b) Any SCOR application may be
			 reviewed by the administrator in coordination with one or more securities
			 administrators in other states where the issuer has filed a SCOR application.
(c) A form of disclosure in a SCOR
			 application other than form U-7 may be allowed by the administrator, including
			 an application for coordinated review under subsection (b), as provided under
			 K.A.R. 81-6-1(b)(2).
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 4 - REGISTRATION OF SECURITIES › Section 81-4-4 - Registration requirements for not-for-profit issuers

Current through Register Vol. 43, No. 28, July 11, 2024
Before the offer or sale of any note, bond, debenture, or other
						evidence of indebtedness by a not-for-profit issuer specified in K.S.A.
						17-12a201(7)  and amendments thereto, the issuer shall register the security
						pursuant to K.S.A. 17-12a304  and amendments thereto, unless one of the
						following conditions is met:
(a) The
					security or transaction is exempt under any provision of the Kansas uniform
					securities act other than K.S.A. 17-12a201(7), and amendments
					thereto.
(b) The issuer is excluded
					from the definition of an investment company, and the security is issued in
					exchange for assets contributed to a fund pursuant to section 3(c)(10)(B) of
					the investment company act of 1940, 15 U.S.C. section 80a-3(c)(10)(B), as
					adopted by reference in   K.A.R. 81-2-1
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-3 - Exemption for isolated nonissuer transactions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) An "isolated
			 nonissuer transaction" under K.S.A. 17-12a202(1), and amendments thereto, shall
			 mean an offer or sale of a security that meets both of the following
			 conditions:
(1) No 12-month period in which
			 the date of the sale can be included contains more than three sales of the
			 security in Kansas by the seller or affiliates.
(2) No person offers or sells the security by
			 means of a general solicitation, except as permitted under subsection (c).
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-6 - Uniform limited offering exemption for rule 505 offerings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Exemption. Each
			 transaction made in compliance with SEC regulation D, rule 505,  17 C.F.R.
			 230.505, as adopted by reference in K.A.R. 81-2-1, shall be exempt from the
			 registration requirements of K.S.A. 17-12a301  through 17-12a306  and K.S.A.
			 17-12a504, and amendments thereto, if all of the following requirements are
			 met:
(1) No commission, finders fee, or other
			 remuneration shall be paid or given, directly or indirectly, for soliciting any
			 prospective purchaser, or in connection with the sale of securities in reliance
			 on this exemption, unless the recipient is appropriately registered in this
			 state as a broker-dealer or agent.
(2) No later than 15 days after the first
			 sale of the security in this state, the issuer shall pay the fee specified in
			 K.A.R. 81-5-8 and file a notice on form D, including the appendix. The form D
			 shall be manually signed on part E by a person authorized by the issuer.
(3) Each sale to a non-accredited
			 investor shall be suitable for the investor, or the issuer and any person
			 acting on its behalf shall have reasonable grounds to believe, and after making
			 reasonable inquiry shall believe, that the investment is suitable for the
			 investor. Suitability shall be based upon the facts disclosed by the investor
			 concerning the investor's other security holdings, financial situation, and
			 needs. For the limited purpose of this exemption only, it may be presumed that
			 the investment is suitable if it does not exceed 10 percent of the investor's
			 liquid net worth.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-7 - Exchange exemption

Current through Register Vol. 43, No. 28, July 11, 2024
A security shall be exempt under K.S.A. 17-12a201(6)(B), and
						amendments thereto, if the security is listed or authorized for listing on
						either of the following exchanges or if the security has seniority equal to or
						greater than the seniority of a security of the same issuer that is listed or
						authorized for listing on either of the following exchanges:
(a) Tier I of the Chicago stock exchange;
					or
(b) tier II of the NYSE Arca,
					inc.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-8 - Fees for exemption filings and interpretive opinions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) A fee of $250
			 shall be remitted with each form D or notice filed in connection with the
			 following exemptions:
(1) The uniform limited
			 offering exemption for rule 505 offerings as specified in K.A.R. 81-5-6;
(2) the accredited investor
			 exemption as specified in K.A.R. 81-5-13; and
(3) the exemption for securities of
			 agricultural associations as specified in K.A.R. 81-5-18.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-10 - Oil and gas exemptions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Definitions.
			 For purposes of this regulation, the following definitions shall apply:
(1) "Commission" shall be defined as
			 specified in K.A.R. 81-1-1. However, the term shall not include any interest in
			 the oil and gas estate being sold, including any overriding royalty interest
			 and any interest in the production from the oil and gas estate, if the identity
			 of the person or persons owning or holding the interest and the extent of the
			 interest are fully disclosed to all purchasers.
(2) "Public auction" means the public sale of
			 an interest in an oil and gas royalty, lease, or mineral deed to the highest
			 bidder when the offer of the interest and the bids are communicated through
			 open, public outcry and the sale is complete when the auctioneer so announces
			 by the fall of the hammer or other customary manner.
(3) "Purchaser" means any individual,
			 corporation, limited liability company, partnership, association, joint stock
			 company, trust, or unincorporated organization. However, if an entity was
			 organized for the specific purpose of acquiring the oil or gas interests
			 offered, each beneficial owner of an equity interest or equity security in the
			 entity shall count as a separate purchaser.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-13 - Accredited investor exemption

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Exemption. Each
			 offer or sale of a security by an issuer shall be exempt from the registration
			 requirements of K.S.A. 17-12a301  through 17-12a306  and K.S.A. 17-12a504, and
			 amendments thereto, if each of the following requirements is met:
(1) Sales shall be made only to persons who
			 are or whom the issuer reasonably believes to be accredited investors, as
			 defined in SEC regulation D, rule 501(a),  17 C.F.R. §
										230.501(a), as
			 adopted by reference in K.A.R. 81-2-1.
(2) The issuer shall reasonably believe that
			 all purchasers are purchasing for investment and not with the view to or for
			 resale in connection with a distribution of the security. Each resale of a
			 security sold in reliance on this exemption within 12 months of sale shall be
			 presumed to be with a view to distribution and not for investment, except a
			 resale pursuant to a registration statement effective K.S.A. 17-12a305(h)  and
			 amendments thereto or a resale to an accredited investor pursuant to an
			 exemption available under the act.
(3) Each communication with a prospective
			 investor shall meet the requirements of subsection (d).
(4) Within 15 days after the first sale in
			 this state, the issuer shall file with the administrator a notice of
			 transaction on form D or the NASAA model accredited investor exemption uniform
			 notice of transaction, a copy of the general announcement, and the fee
			 specified in K.A.R. 81-5-8.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-14 - Notice filings and fees for offerings of investment company securities

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Before the
			 initial offer in this state of a security that is a federal covered security as
			 described in K.S.A. 17-12a302(a)  and amendments thereto, an investment company
			 shall file the following for each portfolio or series:
(1) A notice of intention to sell on form NF,
			 completed in accordance with the instructions to the form; and
(2) a filing fee of $500 for a unit
			 investment trust or $750 for a portfolio or series of an investment company
			 other than a unit investment trust.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-15 - Notice filings and fees for rule 506 offerings

Current through Register Vol. 43, No. 28, July 11, 2024
(a)
					Each issuer of a security under SEC rule 506,  17 C.F.R. 230.506, as adopted by
					reference in   K.A.R. 81-2-1,  shall file a notice of sale on form D with the
					administrator within 15 days after the first sale of the security in Kansas.
					The form D shall be completed in accordance with the instructions for the form
					and shall be filed either through the EFD system electronically or on a paper
					form D that is mailed to the administrator.
(b)
(1) Each
					issuer of a security specified in subsection (a) shall pay a fee of $250 to the
					administrator with each timely filing under subsection (a).
(2) If a form D is not filed as required by
					subsection (a) within 15 days after the first sale of the security in Kansas,
					the issuer of the security shall pay to the administrator the greater of the
					following amounts, unless the administrator agrees to assess a lesser fee
					pursuant to K.S.A. 17-12a307, and amendments thereto:
(A) $500; or
(B) one-tenth of one percent of the dollar
					value of the securities that were sold to Kansas residents before the date on
					which the form D is filed, not to exceed $5,000.
(3) For each electronic filing of form D, the
					fee shall be remitted to the EFD.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-16 - Exemption for internet communication

Current through Register Vol. 43, No. 28, July 11, 2024
(a) General
			 communication. Communication concerning a security directed generally to anyone
			 having access to the internet shall not be deemed an offer under K.S.A.
			 17-12a301, and amendments thereto, based solely on the internet communication
			 if all of the following conditions are met:
(1) The internet communication indicates that
			 the security is not being offered to residents of Kansas.
(2) The internet communication is not
			 specifically directed to any person in Kansas, and the internet communication
			 contains a mechanism, including technical firewalls or other implemented
			 policies and procedures, designed reasonably to prevent direct communication
			 with residents of Kansas.
(3) No
			 sale of the security is made in Kansas as a direct or indirect result of the
			 internet communication until the security is registered under the act or unless
			 the security is exempt from registration. For the purpose of determining
			 whether the security is exempt, each sale made in Kansas as a direct or
			 indirect result of the internet communication shall be deemed to be made
			 through a general solicitation.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-17 - Standard manuals exemption

Current through Register Vol. 43, No. 28, July 11, 2024
The following printed or electronic versions of securities
						manuals shall be designated by the administrator for use under K.S.A.
						17-12a202(2)(A)(iv), and amendments thereto:
(a) "S&P capital IQ standard corporation
					descriptions"; and
(b) "mergent's
					manuals."
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-19 - Cross-border trading exemption

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Exemption from
			 broker-dealer registration. Each broker-dealer that is a resident of Canada and
			 has no place of business in Kansas shall be exempt from registration under
			 K.S.A. 17-12a401, and amendments thereto, if the broker-dealer meets each of
			 the following conditions:
(1) It is
			 registered with or is a member of a self-regulatory organization, stock
			 exchange, or the bureau des services financiers in Canada.
(2) It maintains in good standing its
			 provincial or territorial registration and its registration with or membership
			 in a self-regulatory organization, stock exchange, or the bureau des services
			 financiers in Canada.
(3) It
			 effects or attempts to effect transactions in securities only with or for the
			 following individuals:
(A) An individual who
			 is a permanent resident of Canada and who is temporarily resident in or
			 visiting Kansas, with whom the broker-dealer had a bona fide customer
			 relationship before the individual entered the state; or
(B) an individual who is present in this
			 state and whose transactions are in a Canadian self-directed tax advantaged
			 retirement account of which the individual is the holder or contributor.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 5 - EXEMPTIONS › Section 81-5-20 - Kansas venture capital, inc. exemption

Current through Register Vol. 43, No. 28, July 11, 2024
The offer or sale of any security issued by Kansas venture
				capital, inc. (KVCI) or its successors shall be exempt from the registration
				requirements of K.S.A. 17-12a301  through 17-12a306  and K.S.A. 17-12a504, and
				amendments thereto.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 6 - PROSPECTUS › Section 81-6-1 - Prospectus

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Filing. Each application for the
					registration of securities shall include the prospectus to be used in
					connection with the proposed securities offering.
(b) Form and content.
(1) Registration by coordination. Each
					prospectus for a securities offering filed for registration by coordination
					under K.S.A. 17-12a303, and amendments thereto, shall contain the information
					required in part I of the registration statement filed by the issuer under the
					securities act of 1933, unless the administrator modifies or waives the
					requirements pursuant to K.S.A. 17-12a307, and amendments thereto.
(2) Registration by qualification. Each
					prospectus for a securities offering filed for registration by qualification
					under K.S.A. 17-12a304, and amendments thereto, shall contain the information
					required by that statute unless the administrator modifies or waives the
					requirements pursuant to K.S.A. 17-12a304  or 17-12a307, and amendments thereto.
					The prospectus may be submitted on one of the following forms that is
					applicable to the type of securities offering, in accordance with the
					instructions to the form:
(A) Part II of SEC
					form 1-A, regulation A offering statement under the securities act of
					1933;
(B) part I of SEC form S-1,
					registration statement under the securities act of 1933;
(C) form U-7 if the issuer meets the
					requirements of   K.A.R. 81-4-2; or
(D) any other form allowed by the
					administrator, if the prospectus is filed in compliance with the applicable
					requirements of the securities act of 1933.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 7 - POLICY RELATING TO REGISTRATION › Section 81-7-1 - General statements of policy for registration of securities

Current through Register Vol. 43, No. 28, July 11, 2024
(a) NASAA statements of policy. Each
					registration statement shall meet the requirements of each NASAA statement of
					policy that is applicable to the issuer, registration statement, type of
					security, or other circumstances of the offering. The following NASAA
					statements of policy are hereby adopted by reference:
(1) "Statement of policy regarding corporate
					securities definitions," as amended on March 31, 2008;
(2) "statement of policy regarding the
					impoundment of proceeds," as amended on March 31, 2008;
(3) "statement of policy regarding loans and
					other material transactions," as amended on March 31, 2008;
(4) "statement of policy regarding options
					and warrants," as amended on March 31, 2008;
(5) "statement of policy regarding preferred
					stock," as amended on March 31, 2008;
(6) "statement of policy regarding promoter's
					equity investment," as amended on March 31, 2008;
(7) "statement of policy regarding
					promotional shares," as amended on March 31, 2008;
(8) "statement of policy regarding
					specificity in use of proceeds," as amended on March 31, 2008;
(9) "statement of policy regarding
					underwriting expenses, underwriter's warrants, selling expenses and selling
					security holders," as amended on March 31, 2008;
(10) "statement of policy regarding unsound
					financial condition," as amended on March 31, 2008; and
(11) "statement of policy regarding unequal
					voting rights," as amended on March 31, 2008.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 7 - POLICY RELATING TO REGISTRATION › Section 81-7-2 - Statements of policy for specific types of securities offerings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) If one of the NASAA guidelines or
					statements of policy adopted in subsection (b) applies to a securities
					offering, the registration statement shall meet the requirements of the
					applicable NASAA guideline or statement of policy.
(b) The following NASAA guidelines and
					statements of policy are hereby adopted by reference, except as modified in
					paragraph (b)(13):
(1) "Registration of
					asset-backed securities," as amended on May 6, 2012;
(2) "registration of publicly offered
					cattle-feeding programs," as adopted on September 17, 1980;
(3) "statement of policy regarding church
					bonds" and the related "cross reference sheet," as adopted on April 14, 2002;
(4) "statement of policy regarding
					church extension fund securities," as amended on April 18, 2004;
(5) "registration of commodity pool
					programs," as amended on May 6, 2012;
(6) "statement of policy regarding debt
					securities," as adopted on April 25, 1993;
(7) "equipment programs," as amended on May
					6, 2012;
(8) "NASAA mortgage
					program guidelines," as amended on May 7, 2007;
(9) "registration of oil and gas programs,"
					as amended on May 6, 2012;
(10)
					"omnibus guidelines," as amended on May 7, 2007;
(11) "statement of policy regarding real
					estate investment trusts," as revised and adopted on May 7, 2007;
(12) "statement of policy regarding real
					estate programs," as revised on May 7, 2007; and
(13) "guidelines regarding viatical
					investments," including appendix A, as in effect on January 1, 2006, which
					shall be modified as follows:
(A) In section
					I.B.14.a of the guidelines, the phrase "[reference to state statute or most
					recent version of the National Association of Insurance Commissioners ("NAIC")
					Model Viatical Settlement Act]" shall be replaced with "K.S.A. 40-5002(o), and
					amendments thereto";
(B) in
					section I.B.16, the phrase "[broker dealer]" shall be replaced with
					"broker-dealer," the term "[agent]" shall be replaced with "agent," and the
					phrase "[reference to statutory definition of issuer]" shall be replaced with
					"K.S.A. 17-12a102(17), and amendments thereto";
(C) in section I.B.17, the phrase "[reference
					to state statute or most recent version of the NAIC Model Viat-ical Settlement
					Act]" shall be replaced with "K.S.A. 40-5002(n), and amendments
					thereto";
(D) in section III.B, the
					brackets shall be removed, and the bracketed amounts shall remain in
					effect;
(E) in section VI.14, the
					phrase "[NAIC Model Viatical Settlement Act or similar viatical regulatory act
					of the particular state]" shall be replaced with "viatical settlement act of
					2002, K.S.A. 40-5002  et seq., and amendments thereto"; and
(F) in the last sentence of section VI, the
					phrase "[statutory reference]" shall be replaced with "K.S.A. 17-12a411(d), and
					amendments thereto."
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 7 - POLICY RELATING TO REGISTRATION › Section 81-7-3 - Financial statements required for securities registration

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The historical
			 financial statements in each registration statement or prospectus required
			 under the act shall be presented in conformity with GAAP. In addition, each of
			 the financial statements shall be audited by an independent CPA in accordance
			 with standards of the PCAOB, or in accordance with generally accepted auditing
			 standards in the United States if the audit is not subject to standards of the
			 PCAOB, except under either of the following circumstances:
(1) If an issuer complies with K.A.R. 81-4-2
			 or K.A.R. 81-7-2(b)(3), as applicable, the financial statements in a
			 registration statement filed by qualification under K.S.A. 17-12a304, and
			 amendments thereto, may be reviewed by an independent CPA rather than audited.
(2) Interim financial statements
			 in a registration statement may be unaudited.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 10 - ADVERTISING › Section 81-10-1 - Advertising

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Definitions.
			 For purposes of this regulation, the following definitions shall apply:
(1) "Sales and advertising literature" shall
			 mean the following, if intended for distribution to prospective investors:
(A) Any advertisement, pamphlet, circular,
			 brochure, form letter, or other written or electronic sales literature or
			 material; and
(B) any script for
			 an oral advertisement or promotional effort.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-2 - Scope of administrative procedure regulations

Current through Register Vol. 43, No. 28, July 11, 2024
(a) This article is
			 supplemental to the Kansas administrative procedures act and to administrative
			 procedures otherwise provided by the Kansas securities act.
(b) If it is in the interest of promoting
			 substantial justice, the commissioner may waive any provision of this article.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-3 - Form of pleadings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Except as
			 otherwise provided by K.A.R. 81-2-1(d), each written request, motion, notice,
			 and other pleading filed in any proceeding shall contain the caption "BEFORE
			 THE SECURITIES COMMISSIONER OF THE STATE OF KANSAS," the title of the
			 proceeding, the docket number and the name of the pleading, and shall be in
			 substantial compliance with K.S.A. 1984 Supp. 60-2702a, Rule No. 111.
(b) Any oral statement or request
			 not given on the record during a proceeding and any letter, memo, or note not
			 in substantial compliance with subsection (a) above shall not constitute a
			 filing in the proceeding.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-5 - Request for hearing

Current through Register Vol. 43, No. 28, July 11, 2024
(a) When the
			 commissioner has entered any emergency or summary order or given notice of
			 intent to issue any order, an aggrieved party may file a written request for a
			 hearing. The request shall be filed in the office of the commissioner within 30
			 days of service of the order or notice of intent.
(b) The request for hearing shall contain the
			 following:
(1) the title of the matter as
			 written on the commissioner's order or notice;
(2) the docket number of the matter;
(3) a request for a hearing and if
			 allegations of the commissioner's staff are disputed and the aggrieved party
			 desires a formal adjudicatory proceeding, a statement to that effect;
(4) a detailed statement of what
			 allegations in the staff's pleadings are disputed by the aggrieved party. All
			 allegations not disputed in the request shall be found to be admitted by the
			 aggrieved party;
(5) the name,
			 address, and phone number of any local and any foreign counsel; and
(6) a sworn verification by the requesting
			 party that the contents of the request are true. If the aggrieved party is an
			 individual, the verification shall be signed by the individual. If the
			 aggrieved party is a corporation, the verification shall be signed by the
			 president or the chairman of the board of directors. If the aggrieved party is
			 a partnership, the verification shall be signed by a general partner. If the
			 aggrieved party is a governmental unit, the verification shall be signed by the
			 highest official in the unit or a deputy.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-6 - Conference adjudicative proceedings

Current through Register Vol. 43, No. 28, July 11, 2024
Unless an aggrieved party has requested a formal adjudicatory
				proceeding in accordance with   K.A.R 81-11-5(b) (3)  and  has disputed staff
				allegations in accordance with   K.A.R. 81-11-5(b) (4), or  unless another type of
				proceeding is ordered or otherwise required, any proceeding granted shall be a
				conference adjudicative proceeding.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-7 - Appearances

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The filing of a
			 request for hearing shall constitute a general appearance before the
			 commissioner by the requesting party and shall act as an acknowledgment that
			 service of the order or notice was complete upon the requesting party. No
			 special appearance shall be recognized.
(b) If an aggrieved party appears in any
			 proceeding with an attorney, service upon the aggrieved party is complete upon
			 service of the attorney.
(c) Any
			 attorney who will appear with an aggrieved party and who was not named in the
			 request for hearing, shall file a written appearance stating the attorney's
			 name, address and telephone number, and specifying whom the attorney will
			 represent in the proceeding.
(d)
			 The person who signed the verification on the request for hearing shall appear
			 personally at the hearing. Failure to so appear shall constitute grounds for
			 default against the aggrieved party who filed the request for hearing.
			 Appearance by attorney only or by another controlling person shall be
			 insufficient unless permitted by the commissioner for good cause shown. Any
			 person so permitted to appear shall verify an amended request for hearing.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-8 - Formal adjudicative proceedings

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Formal
			 adjudicative proceedings shall be conducted on a trial format unless the
			 presiding officer finds that deviation from a trial format is necessary to aid
			 in ascertaining the facts or for the convenience of the presiding officer, a
			 witness or a party.
(b) No witness
			 shall testify by telephone or other electronic means unless by agreement of the
			 parties.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-9 - Subpoenas

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Subpoenas may
			 be served upon any party or upon any controlling person of any party by serving
			 the attorney for the party.
(b) If
			 any party or any controlling person of any party fails to testify or produce
			 items when so subpoenaed and the presiding officer finds that the evidence
			 would be relevant to the proceeding, the presiding officer may make such orders
			 as are provided for by paragraphs (A), (B) and (C) of K.S.A. 60-237(b)(2).
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-10 - Evidence

Current through Register Vol. 43, No. 28, July 11, 2024
The presiding officer may relax the rules of evidence if it
				will aid in ascertaining the facts. The presiding officer shall admit hearsay
				evidence not otherwise admissible:
(a) unless a party objects to the proffered
			 evidence and states that;
(1) the party knows
			 that a fact contained therein and offered to prove the truth of the matter is
			 false; or
(2) the party does not
			 know whether a fact contained therein and offered to prove the truth of the
			 matter is true and the presiding officer finds that after being given a
			 reasonable time the party has been unable to ascertain the truth of the matter
			 and has made a diligent effort to do so; or
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-11 - Hearing officers

Current through Register Vol. 43, No. 28, July 11, 2024
(a) In any
			 proceeding initiated under a provision of the Kansas securities act which
			 requires a final determination by the commissioner, a hearing officer may be
			 appointed by the commissioner to conduct the proceeding.
(b) Upon the written request of a party, any
			 interim ruling of the hearing officer may be modified by the commissioner, but
			 no hearing on the request is required to be provided.
Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 11 - ADMINISTRATIVE PROCEDURE › Section 81-11-12 - Immunity

Current through Register Vol. 43, No. 28, July 11, 2024
Any person claiming privilege against self-incrimination in
				matters described by K.S.A. 1984 Supp. 17-1265  shall do so personally and not
				by attorney or other person. No person after claiming the privilege shall be
				considered compelled unless the claimant is first granted immunity by the
				commissioner or the commissioner's designee. A hearing officer shall not have
				the power to grant immunity.