reglab/statecodes huggingface dataset:
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-006 - CORRECTION

Current through June 17, 2024
If, during the offering period under this Rule, an event
				  occurs that materially affects the issuer, its prospects or properties, or
				  otherwise materially affect s the accuracy or completeness of the information
				  contained in the disclosure document, the disclosure document shall be promptly
				  revised to reflect such event and filed with the Director. The revised document
				  shall be used for all sales of securities claiming the exemption thereafter.
				  All investors who have purchased in this offering must be given a copy of the
				  revised document with the option of affirming their investment decision or
				  receiving their money back.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-007 - SOLICITATION RESTRICTION

Current through June 17, 2024
Neither the issuer nor any person acting on its behalf shall
				  offer or sell the securities by any form of general solicitation or general
				  advertising, including, but not limited to, the following:
007.01 Any advertisement, article, notice or
				other communication published in any newspaper, magazine, or similar media or
				broadcast over television or radio;
007.02 Any advertisement, article, notice,
				spam or junk electronic mail, or other general communication placed on, or
				delivered by means of, the Internet; and
007.03 Any seminar or meeting to which
				attendees have been invited by any general solicitation or general
				advertising.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-008 - MINIMUM OFFERING AMOUNT

Current through June 17, 2024
The issuer must specify in the disclosure document the
				  minimum amount of funds necessary to achieve the results outlined in the
				  disclosure document. This shall be the minimum amount of funds to be raised
				  through the offering.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-009 - ESCROW REQUIREMENT

Current through June 17, 2024
The issuer must establish a separate interest bearing account
				  with a financial institution office located in Nebraska for all funds received
				  from sales of securities under this exemption until at least the minimum amount
				  has been raised. If the minimum amount of funds is not raised within twelve
				  months of the beginning of the offering, then all funds, including any interest
				  thereon, shall be promptly returned to the investors, and the issuer shall
				  immediately notify the Director of such action.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-010 - LIMITATIONS ON AVAILABILITY

Current through June 17, 2024
The exemption provided by this Rule is available only to an
				  issuer of the securities. The exemption is not available for:
010.01 Affiliates of the issuer or any other
				person for resale of the issuer's securities; or
010.02 Transactions by existing security
				holders of the issuer.
010.03 An
				issuer that is either before or because of the offering, an investment company
				as defined in Section 3 of the Investment Company Act of 1940,
				15 U.S.C.
				80a-3, an entity that would be an investment
				company but for the exclusions provided in section 3(c) of the Investment
				Company Act of 1940,
				15 U.S.C.
				80a-3(c), or subject to the
				reporting requirements of section 13 or 15(d) of the Securities Exchange Act of
				1934,
				15 U.S.C.
				78m or
				15
				U.S.C. 78o(d);
010.04 Debt
				offerings unless the issuer can demonstrate reasonable historical ability to
				service its debt.
010.05 Offerings
				which are "blind pool offerings" or other offerings for which the specific
				business to be engaged in or specific property to be acquired by the issuer is
				not identified.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-011 - DISQUALIFICATION FACTORS

Current through June 17, 2024
The exemption provided by this Rule is not available for the
				  securities of any issuer, if the issuer or any of its officers, directors,
				  general partners, managing members, beneficial owners of ten percent or more of
				  any class of its equity securities, promoters or any selling agents of the
				  securities to be offered, or any officer, director, managing member, or partner
				  of such selling agent:
011.01 Has
				filed a registration statement which is the subject of a currently effective
				stop order entered pursuant to any federal or state securities laws within five
				years prior to the commencement of the offering;
011.02 Has been convicted within five years
				prior to the commencement of the offering of any felony or misdemeanor in
				connection with the offer, purchase or sale of any security or any felony
				involving fraud or deceit, including, but not limited to, forgery,
				embezzlement, obtaining money under false pretenses, larceny or conspiracy to
				defraud;
011.03 Is currently
				subject to any state administrative enforcement order or judgment entered by a
				state securities administrator or the Securities and Exchange Commission
				("SEC") within five years prior to the commencement of the offering;
011.04 Is subject to any federal, state, or
				foreign governmental agency administrative enforcement order or judgment in
				which fraud or deceit, including, but not limited to, making untrue statements
				of material facts or omitting to state material facts, was found and the order
				or judgment was entered within five years prior to the commencement of the
				offering;
011.05 Is currently
				subject to an administrative enforcement order or judgment of a state
				securities administrator which prohibits, denies, or revokes the use of any
				exemption from registration in connection with the offer, purchase, or sale of
				securities of the issuer; or
011.06
				Is currently subject to any order, judgment, or decree of any court of
				competent jurisdiction which temporarily or preliminarily restrains or enjoins,
				or which was entered within five years prior to the commencement of the
				offering, and permanently restrained or enjoined such person from engaging in
				or continuing any conduct or practice in connection with the purchase or sale
				of any security or involving the making of any false filing with any state, or
				with the SEC.
011.07 Any
				disqualification caused by this Section may be waived if the Director
				determines, upon a showing of good cause, that it is not necessary under the
				circumstances that the exemption be denied.
011.08 For purposes of this Section,
				beneficial ownership means the power to vote or direct the vote and/or the
				power to dispose or direct the disposition of such securities.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-012 - DISCLOSURE

Current through June 17, 2024
Nothing in this exemption is intended to or should be
				  construed as in any way relieving issuers or persons acting on behalf of
				  issuers from providing to prospective investors disclosure adequate to satisfy
				  the provisions of Section
				  8-1102(1)
				   of the Act.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-013 - AVAILABILITY OF EXEMPTION

Current through June 17, 2024
013.01 Offers and
				sales which are exempt under this Rule may not be combined with offers and
				sales exempt under any other Rule or Section of the Act; however, nothing in
				this limitation shall act as an election. Should the offer and sale fail to
				comply with all of the conditions for this exemption, the issuer may claim the
				availability of any other applicable exemption.
013.02 The exemption is not available to any
				issuer with respect to any transaction which, although in technical compliance
				with this Rule, is part of a plan or scheme to evade registration or the
				conditions or limitations explicitly stated in this Rule.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-014 - BURDEN OF PROOF

Current through June 17, 2024
In any proceeding involving this Rule, the burden of proving
				  the exemption from registration is upon the person claiming the
				  exemption.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-015 - INTEGRATION

Current through June 17, 2024
All offers or sales that are part of the same offering must
				  meet all of the terms and conditions of this Rule. Offers and sales that are
				  made more than six months before the start, or more than six months after
				  completion, of an offering made in reliance on this Rule, will not be
				  considered part of that offering, provided no offers or sales of securities are
				  made by or for the issuer during such periods. 48 NAC 41 identifies the factors
				  that will be considered in determining whether offers and sales should be
				  integrated.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 18 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(20) NEBRASKA INTRASTATE ISSUER EXEMPTION › Section 48-18-016 - CURE ORDER

Current through June 17, 2024
An issuer which fails to file the notice at least twenty days
				  prior to any sale made in reliance on this exemption may request the late
				  filing be cured by complying with 48 NAC 19.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 19 - REQUESTS FOR ORDERS CURING LATE NOTICE FILINGS › Section 48-19-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to the authority delegated to the Director in Section
				8-1120(3)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule relating to requests to cure late filings of an
				exemption notice pursuant to Section s 8-1111(9), 8-1111(16), 8-1111(20),
				8-1111(21),. 8-1111(23), and 8-1108.02(2)(b) under the Act is consistent with
				investor protection and is in the public interest.
001.03 The Director may, on a case-by-case
				basis, and with prior written notice to the affected persons, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
001.04 The definitions in
				48 NAC 2 apply to this Rule, unless otherwise specified.
001.05 For purposes of this Rule, the term
				"seller" include s any issuer or other person on whose behalf a notice of
				exemption from registration under Sections, 8-1111(9), 8-1111(16), 8-1111(20),
				8-1111(21), 8-1111(23), and 8-1108.02(2)(b) is filed with the
				Director.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 19 - REQUESTS FOR ORDERS CURING LATE NOTICE FILINGS › Section 48-19-002 - FILING REQUIREMENT

Current through June 17, 2024
A seller that does not file an exemption notice within the
				  time period specified in the above applicable statutory provisions of the Act,
				  or any Rule promulgated thereunder, shall file a written request with the
				  Director for an Order curing the late filing of the exemption notice.
002.01 The request shall be signed and dated
				by an officer, director, general partner, managing member or legal counsel of
				the seller.
002.02 The request
				shall accompany the exemption notice.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 19 - REQUESTS FOR ORDERS CURING LATE NOTICE FILINGS › Section 48-19-003 - CONTENTS OF REQUEST

Current through June 17, 2024
003.01 If the
				exemption notice is filed thirty days or less after the time period specified
				forthe exemption claimed, the request shall include:
003.01A The date (day, month, year) of the
				first Nebraska sale in reliance on the applicable exemption,;
003.01B An explanation as to why the filing
				was late;
003.01C A representation
				that the conditions of the exemption have been met, except for the timely
				filing of the notice;
003.01D A
				representation that there have been no adverse material changes in the
				financial condition of the issuer since the original date of the offering or
				first sale;
003.01E A
				representation that there have been no civil suits or complaints filed by
				investors against the seller, or investor complaints since the date of the
				first Nebraska sale; and
003.01F A
				representation that no administrative actions or investigations have been
				initiated by any state or federal regulatory authority in connection with the
				offering or any other investment-related activity by the issuer. For purposes
				of this Rule, investment-related shall mean pertaining to securities,
				commodities, banking, insurance, or real estate, including, but not limited to,
				acting as, or being associated with, a broker-dealer, issuer, investment
				company, investment adviser, futures sponsor, or depository
				institution.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 19 - REQUESTS FOR ORDERS CURING LATE NOTICE FILINGS › Section 48-19-004 - INVESTIGATIONS

Current through June 17, 2024
If an exemption notice is filed more than ninety days after
				  the time period specified for the exemption claimed, the Department may
				  commence an independent investigation of the matter. The Department
				  specifically reserves the right to assess the expense of its investigation to
				  the seller pursuant to Section
				  8-1115(1)
				   of the Act or to assess a fine pursuant to
				  Section
				  8-1108.01(4)
				   of the Act.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Sections
				8-1108.02
				and
				8-1120
				of the Securities Act of Nebraska ("Act").
001.02 The Department has determined that
				this Rule relating to filing requirements for issuers of federal covered
				securities is consistent with investor protection and is in the public
				interest.
001.03 The definitions in
				48 NAC 2 apply to the provisions of this Rule, unless otherwise
				specified.
001.04 Federal statutes
				and rules of the Securities and Exchange Commission ("SEC") or the Financial
				Industry Regulatory Authority ("FINRA") referenced herein means those statutes
				and rules as amended on or before the effective date of this Rule. A copy of
				the statutes or rules referenced in this Rule is available as an appendix to
				this rule at
https://ndbf.nebraska.gov/about/legal/administrative-rules-and-regulations
.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-002 - OFFERINGS BY INVESTMENT COMPANIES

Current through June 17, 2024
002.01 Prior to the
				offer or sale of any security by an investment company registered under the
				Investment Company Act of 1940, the issuer shall file the following information
				with the Director:
002.01A A notice, on a
				uniform form, acceptable to the Director, which shall contain:
002.01A1 The name and address of the issuer;
				and
002.01A2 The dollar amount of
				securities which the issuer intends to offer in this state; and
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-003 - OFFERINGS PURSUANT TO REGULATION 506

Current through June 17, 2024
003.01 An issuer
				offering a security which is a covered security pursuant to Section 18(b)(4)(F)
				of the Securities Act of 1933,
				15
				U.S.C.§
										77r(b)(4)(F)
				shall file the following information with the Director no later than fifteen
				days after the first sale of such security in this state:
003.01A A copy of the issuer's SEC Form
				D.;
003.01B A consent to service of
				process; and
003.01C A filling fee
				of two hundred dollars ($200.00).
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-004 - OFFERINGS BY AGRICULTURAL CO-OPERATIVES

Current through June 17, 2024
An issuer offering a security which is a covered security
				  pursuant to Section 18(b)(4)(C) of the Securities Act of 1933,
				  15 U.S.C.
				  §
										77r(b)(4)(C) and
				  which is exempt from federal registration pursuant to Section 3(a)(5)(B),
				  15 U.S.C. §
										77c(a)(5)(B), thereof, shall
				  file the following information with the Director prior to the issuance of such
				  security in this state:
004.01 The
				name and address of the issuer;
004.02 The place and date of
				incorporation;
004.03 The type of
				security being issued;
004.04 The
				total amount of securities to be sold by the issuer, both in Nebraska and
				nationwide;
004.05 An indication as
				to whom sales will be made: present members, patrons, or the general
				public;
004.06 A description of the
				method by which the securities will be sold;
004.07 The name and address of the registered
				broker-dealer who will be selling the securities;
004.08 A balance sheet and income statement
				for the past two years;
004.09 A
				description of the intended use of the proceeds;
004.10 The interest rate to be paid, if the
				offering involves debt securities;
004.11 Evidence of sufficient financial
				resources to service its debts for the next two years; and
004.12 A filing fee of two hundred dollars
				($200.00).
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-005 - OFFERINGS PURSUANT TO REGULATION A, TIER 2

Current through June 17, 2024
An issuer offering a security which is a covered security
				  pursuant to Section 18(b)(3) of the Securities Act of 1933,
				  15 U.S.C.
				  §
										77r(b)(3) and which
				  is exempt from federal registration pursuant to Tier 2 of federal Regulation A,
				  17 CFR
				  230.251(a) shall submit the
				  following prior to the initial offer and/or sale in this state:
005.01 A completed Regulation A - Tier 2
				notice filing form or copies of all documents filed with the Securities and
				Exchange Commission;
005.02 A
				consent to service of process on Form U-2 if not filing on the Regulation A -
				Tier 2 notice filing form; and
005.03 A filing fee of two hundred dollars
				($200.00).
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 20 - FEDERAL COVERED SECURITIES › Section 48-20-006 - RESTRICTION ON SALES

Current through June 17, 2024
All sales of federal covered securities must be effected
				  through a Nebraska-registered agent of a Nebraska-registered broker-dealer,
				  except that this Section does not apply to sales of securities covered by
				  Sections 003 and 005, above, provided no commissions or other remuneration are
				  paid directly or indirectly for soliciting any prospective
				  buyer.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 21 - NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATON STATEMENTS OF POLICY › Section 48-21-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120
				of the Securities Act of Nebraska ("Act").
001.02 The Department has determined that
				this Rule relating to the registration of securities is consistent with
				investor protection and is in the public interest.
001.03 The Director may, on a case by case
				basis, and with prior written notice to the affected persons, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
001.04 A copy of each
				North America Securities Administrators Association ("NASAA") Statement of
				Policy referenced in subsection 002 below is available as an appendix to this
				rule at
www.ndbf.ne.gov/legal
and
				are also contained in NASAA REPORTS published by Commerce Clearing House, and
				on NASAA's website at
www.nasaa.org
.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 21 - NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATON STATEMENTS OF POLICY › Section 48-21-002 - NASAA STATEMENTS OF POLICY

Current through June 17, 2024
In order to promote uniform regulation, the Director adopts
				  the following NASAA Statements of Policy for issuers registering an offering
				  pursuant to the Act. This rule does not incorporate any subsequent amendments
				  or adoptions:
002.01 "Statement of
				Policy Regarding Corporate Securities Definitions" as amended on May 6,
				2018.
002.02 "Statement of Policy
				Regarding Underwriting and Selling Expenses, Underwriter's Warrants and Selling
				Expenses" as amended on May 6, 2018.
002.03 "Statement of Policy Regarding
				Promotional Shares" as amended on March 31, 2008.
002.04 "Statement of Policy Regarding
				Promoters' Equity Investment" as amended on September 11, 2016.
002.05 "Statement of Policy Regarding Loans
				and Other Material Transactions" as amended on May 6, 2018.
002.06 "Statement of Policy Regarding the
				Impoundment of Proceeds" as amended on March 31, 2008.
002.07 "Statement of Policy Regarding Unequal
				Voting Rights" as amended on September 11, 2016.
002.08 "Statement of Policy Regarding
				Specificity in Use of Proceeds" as amended on September 11, 2016.
002.09 "Statement of Policy Regarding Unsound
				Financial Condition" as amended on May 6, 2018.
002.10 "Statement of Policy Regarding Debt
				Securities" as adopted on April 25, 1993.
002.11 "Statement of Policy Regarding
				Preferred Stock" as amended on September 11, 2016.
002.12 "Statement of Policy Regarding Options
				and Warrants" as amended on March 31, 2008.
002.13 "Statement of Policy Regarding Real
				Estate Investment Trusts" as amended on May 7, 2007.
002.14 "Statement of Policy Regarding Real
				Estate Programs" as amended on May 7, 2007.
002.15 "Registration of Oil and Gas Programs"
				as amended on May 6, 2012.
002.16
				"Registration of Publicly-Offered Cattle Feeding Programs" as adopted on
				September 17, 1980.
002.17
				"Registration of Commodity Pool Programs" as amended on May 6, 2012.
002.18 "Equipment Programs" as amended on May
				6, 2012.
002.19 "Registration of
				Asset Backed Securities" as amended on May 6, 2012.
002.20 "Statement of Policy Regarding Church
				Extension Fund Securities" as amended on April 18, 2004.
002.21 "Mortgage Program Guidelines" as
				amended on May 7, 2007.
002.22
				"Omnibus Guidelines" as amended on May 7, 2007, which apply to limited
				partnerships programs or other entities for which more specific statements of
				policy have not been adopted by NASAA.
002.23 "Statement of Policy Regarding Use of
				Electronic Offering Documents and Electronic Signatures" as adopted on May 7,
				2017.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 21 - NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATON STATEMENTS OF POLICY › Section 48-21-003 - COMPLIANCE WITH STATEMENTS OF POLICY

Current through June 17, 2024
An issuer registering an offering that falls within one or
				  more of the statements of policy listed in subsection 002 of this Chapter shall
				  comply with the requirements of said statement of policy or policies.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 21 - NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATON STATEMENTS OF POLICY › Section 48-21-004 - WAIVER OF RULE

Current through June 17, 2024
While applications not conforming to the standards contained
				  herein are looked upon with disfavor, where good cause is shown, certain
				  provisions of this Rule may be waived by the Director.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120(3)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule is consistent with investor protection and is in the
				public interest.
001.03 The
				Director may, on a case-by-case basis, and with prior written notice to the
				affected persons, require adherence to additional standards or policies, as
				deemed necessary in the public interest.
001.04 The definitions in 48 NAC 2 shall
				apply to the provisions of this Rule, unless otherwise specified.
001.05 This Rule applies exclusively to
				broker-dealer services conducted by broker-dealers on the premises of a
				financial institution where retail deposits are taken. It does not alter or
				abrogate a broker-dealer's obligations to comply with other applicable laws,
				rules, or regulations that may govern the operations of broker-dealers and
				their agents, including but not limited to, supervisory obligations. This rule
				does not apply to broker-dealer services provided to non-retail
				customers.
001.06 Federal statutes
				and rules of the Securities and Exchange Commission ("SEC") or the Financial
				Industry Regulatory Authority ("FINRA") referenced herein shall mean those
				statutes and rules as amended on or before the effective date of this Rule. A
				copy of the applicable statutes or rule referenced in this Rule is attached
				hereto.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-002 - DEFINITIONS

Current through June 17, 2024
For purposes of these rules, the following terms have the
				  meanings indicated:
002.01 "Financial
				institution" means federal and state-chartered banks, savings and loan
				associations, savings banks, credit unions, and the subsidiaries and service
				corporations of such institutions located in Nebraska.
002.02 "Networking arrangement" means 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 such financial institution where retail deposits are
				taken.
002.03 "Broker-dealer
				services" means the investment banking or securities business as defined in
				paragraph (u) of Article I of the By-Laws of the Financial Industry Regulatory
				Authority, Inc.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-003 - STANDARDS FOR BROKER-DEALER CONDUCT

Current through June 17, 2024
No broker-dealer shall conduct broker-dealer services on the
				  premises of a financial institution where retail deposits are taken unless the
				  broker-dealer complies initially and continuously with the following
				  requirements:
003.01 Wherever
				practical, broker-dealer services shall be conducted in a physical location
				distinct from the area in which the financial institution's retail deposits are
				taken. In those situations where there is insufficient space to allow separate
				areas, the broker-dealer has a heightened responsibility to distinguish its
				services from those of the financial institution. In all situations, the
				broker-dealer shall identify its services in a manner that clearly
				distinguishes those services from the financial institution's retail
				deposit-taking activities. The broker-dealer's name shall be clearly displayed
				in the area in which the broker-dealer conducts its services.
003.02 Networking arrangements shall be
				governed by a written agreement that sets forth the responsibilities of the
				parties and the compensation arrangements. Networking arrangements must provide
				that supervisory personnel of the broker-dealer and representatives of state
				securities authorities, where authorized by state law, will be permitted access
				to the financial institution's premises where the broker-dealer conducts
				broker-dealer services in order to inspect the books and records and other
				relevant information maintained by the broker-dealer with respect to its
				broker-dealer services. Management of the broker-dealer shall be responsible
				for ensuring that the networking arrangement clearly outlines the duties and
				responsibilities of all parties, including those of financial institution
				personnel.
003.03 At or prior to
				the time that a customer's securities brokerage account is opened by a
				broker-dealer on the premises of a financial institution where retail deposits
				are taken, the broker-dealer shall:
003.03A
				Disclose, orally and in writing, that the securities products purchased or sold
				in a transaction with the broker-dealer:
003.03A1 Are not insured by the Federal
				Deposit Insurance Corporation ("FDIC") or by the National Credit Union
				Administration ("NCUA"), as applicable;
003.03A2 Are not deposits or other
				obligations of the financial institution and are not guaranteed by the
				financial institution; and
003.03A3
				Are subject to investment risks, including possible loss of the principal
				invested.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-004 - COMMUNICATIONS WITH THE PUBLIC

Current through June 17, 2024
004.01
004.01A All of the broker-dealer's
				confirmations and account statements must indicate clearly that the
				broker-dealer services are provided by the broker-dealer.
004.01B Advertisements and sales literature
				that announce the location of a financial institution where broker-dealer
				services are provided by the broker-dealer, or that are distributed by the
				broker-dealer on the premises of a financial institution, must disclose that
				securities products; are not insured by the FDIC or the NCUA, as applicable;
				are not deposits or other obligations of the financial institution and are not
				guaranteed by the financial institution; and are subject to investment risks,
				including possible loss of the principal invested. The shorter, logo format
				described in Section
				004.02A may be
				used to provide these disclosures.
004.01C Recommendations by a broker-dealer
				concerning non-deposit investment products with a name similar to that of a
				financial institution must only occur pursuant to policies and procedures
				reasonably designed to minimize risk of customer confusion.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-005 - NOTIFICATION OF TERMINATION

Current through June 17, 2024
The broker-dealer must promptly notify the financial
				  institution if any agent of the broker-dealer who is employed by the financial
				  institution is terminated for cause by the broker-dealer.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 37 - SALES OF SECURITIES AT FINANCIAL INSTITUTIONS › Section 48-37-006 - CONFLICT WITH FEDERAL REGULATIONS

Current through June 17, 2024
The Director may by order suspend any provision of this Rule
				  upon a showing that such provision conflicts with any regulation promulgated by
				  a federal regulatory agency or a self-regulatory organization of an industry
				  affected by this Rule.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120
				and Section
				8-1111(23)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule regarding securities offerings is consistent with
				investor protection and is in the public interest.
001.03 The Director may, on a case-by-case
				basis, and with prior written notice to the affected parties, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
001.04 The definitions in
				48 NAC 2 apply to the provisions of this Rule, unless otherwise
				specified.
001.05 Federal statutes
				and rules of the Securities and Exchange Commission ("SEC") or the Financial
				Industry Regulatory Authority ("FINRA") referenced herein means those statutes
				and rules as amended on or before the effective date of this Rule. A copy of
				the applicable statutes or rules referenced in this Rule is available as an
				appendix at
www.ndbf.nebraska.gov
.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-002 - ADJUSTMENT OF EXEMPTION AMOUNT

Current through June 17, 2024
The exemption amount in Section 81111(23) of the Act is
				  adjusted to $811,500.00.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-003 - CONDITIONS OF EXEMPTION

Current through June 17, 2024
Transactions meeting the following conditions will be deemed
				  exempt from the registration provisions of the Act:
003.01 The proceeds from all sales of
				securities by the issuer in any two year period do not exceed eight hundred
				eleven five hundred dollars ($811,500.00) and at least eighty percent of the
				proceeds are used in Nebraska;
003.02
				 No commission or other remuneration is paid or given directly or
				indirectly for soliciting any prospective buyer except to a registered agent of
				a registered broker-dealer;
003.03
				The issuer is not disqualified under Section 00 7, below;
003.04 The issuer shall file a notice, as
				specified in Section 00 4, below, with the Department of Banking and Finance,
				P.O. Box 95006, Lincoln, Nebraska 685095006, no later than fifteen business
				days prior to any sales for which an exemption under this Rule is
				claimed;
003.05 The issuer shall,
				within thirty days after the completion of the offering, file with the Director
				a statement setting forth the number of investors, the total dollar amount
				raised, and disclosure of the use of proceeds; and
003.06 The offering shall be conducted in
				compliance with the federal "Intrastate Offers and Sales" exemption,
				17 CFR
				230.147, or the federal "Intrastate Offering
				Exemption",
				17 CFR
				230.147A.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-004 - CONTENTS OF NOTICE

Current through June 17, 2024
The notice submitted prior to making any sales in reliance on
				  this exemption shall include the following information:
004.01 The name, address, telephone number,
				and email address of the issuer;
004.02 The name and address of each person
				holding direct or indirect ownership or beneficial interest in the
				issuer;
004.03 The dollar amount of
				the offering;
004.04 The type of
				security being offered;
004.05 The
				manner in which purchasers will be solicited; and
004.06 A statement that the conditions of
				this exemption will be met, signed under oath or affirmation by an authorized
				representative of the issuer.
004.07 Every notice and disclosure document
				filed with the Director shall be signed by a person duly authorized by the
				issuer.
004.08 The Director may
				require the filing of additional information if the Director deems it material
				to the offering.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-005 - DELIVERY OF DISCLOSURE DOCUMENT

Current through June 17, 2024
The issuer shall give each prospective investor a copy of the
				  offering disclosure document at least twenty-four hours prior to the investor
				  signing any agreement to purchase the securities or paying any consideration
				  for the securities. The offering disclosure document shall include:
005.01 A description of the proposed use of
				the proceeds of the offering;
005.02 The name of each partner or limited
				liability company member of the issuer, officer, director, or person occupying
				a similar status of the issuer or performing similar functions for the issuer;
				and
005.03 The financial condition
				of the issuer.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-006 - LIMITATIONS ON AVAILABILITY

Current through June 17, 2024
The exemption provided by this Rule is available only to an
				  issuer of the securities. The exemption is not available for:
006.01 Affiliates of the issuer or any other
				person for resale of the issuer's securities;
006.02 Transactions by existing security
				holders of the issuer;
006.03
				Offerings, including "blind pool offerings", for which the specific business to
				be engaged in, the specific property to be acquired, or the specific use of the
				offering proceeds by the issuer is not identified.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-007 - DISQUALIFICATION FACTORS

Current through June 17, 2024
This exemption is not available for use by an issuer if the
				  issuer, or any partner or limited liability company member of the issuer, any
				  officer, director, or any person occupying a similar status of the issuer, any
				  person performing similar functions for the issuer, or any person holding a
				  direct or indirect ownership interest in the issuer or in any way a beneficial
				  interest in such sale of securities of the issuer is subject to a
				  disqualification factor enumerated in Section
				  8-1111(23)(c)
				   of the Act.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-008 - DISCLOSURE

Current through June 17, 2024
Nothing in this Rule is intended to, or should be construed
				  as, in any way relieving issuers or persons acting on behalf of issuers from
				  providing to prospective investors disclosure adequate to satisfy the
				  provisions of Section
				  8-1102(1)
				   of the Act.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-009 - AVAILABILITY OF EXEMPTION

Current through June 17, 2024
009.01 Offers and
				sales which are exempt under this Rule may not be combined with offers and
				sales exempt under any other Rule or Section of the Act; however, nothing in
				this limitation shall act as an election. Should the offer and sale fail to
				comply with all of the conditions for this exemption, the issuer may claim the
				availability of any other applicable exemption.
009.02 The exemption is not available to any
				issuer with respect to any transaction which, although in technical compliance
				with this Rule, is part of a plan or scheme to evade registration or the
				conditions or limitations explicitly stated in this Rule.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-010 - EFFECTIVENESS

Current through June 17, 2024
A notice of exemption filed pursuant to Section
				  8-1111(23)
				   of the Act remains effective until the
				  earliest of the following events:
010.01 Eight hundred eleven thousand five
				hundred dollars ($811,500.00) in proceeds is raised;
010.02 Two years from the date of the first
				sale; or
010.03 The issuer files
				the statement required by Section 002.05, above.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-011 - BURDEN OF PROOF

Current through June 17, 2024
In any proceeding involving this Rule, the burden of proving
				  the exemption from registration is upon the person claiming the
				  exemption.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-012 - INTEGRATION

Current through June 17, 2024
All offers or sales that are part of the same offering must
				  meet all of the terms and conditions of this Rule. Offers and sales that are
				  made more than six months before the start, or more than six months after
				  completion, of an offering made in reliance on this Rule, will not be
				  considered part of that offering, provided no offers or sales of securities are
				  made by or for the issuer during such periods. 48 NAC 41 identifies the factors
				  that will be considered in determining whether offers and sales should be
				  integrated.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 38 - INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(23) EXEMPTION › Section 48-38-013 - CURE ORDER

Current through June 17, 2024
An issuer which fails to file the notice at least fifteen
				  business days prior to any sale made in reliance on this exemption may request
				  the late filing be cured by complying with 48 NAC 19.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 39 - CONDITIONS AND INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(24) CROWDFUNDING EXEMPTION › Section 48-39-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120
				and Section
				8-1111(24)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule regarding securities offerings is consistent with
				investor protection and is in the public interest.
001.03 The Director may, on a case-by-case
				basis, and with prior written notice to the affected parties, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
001.04 The definitions in
				48 NAC 2 apply to the provisions of this Rule, unless otherwise
				specified.
001.05 Federal statutes
				and rules of the Securities and Exchange Commission ("SEC") or the Financial
				Industry Regulatory Authority ("FINRA") referenced herein means those statutes
				and rules as amended on or before the effective date of this Rule. A copy of
				the applicable statutes or rules referenced in this Rule is available as an
				appendix to this rule at
https://ndbf.nebraska.gov/about/legal/administrative-rules-and-regulations
.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 39 - CONDITIONS AND INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(24) CROWDFUNDING EXEMPTION › Section 48-39-002 - DEFINITIONS

Current through June 17, 2024
For purposes of this Rule:
002.01 Accredited investor means a bank, a
				savings institution, a trust company, an insurance company, an investment
				company as defined in the Investment Company Act of 1940, a pension or
				profit-sharing trust or other financial institution or institutional buyer, an
				individual accredited investor, or a broker-dealer, whether the purchaser is
				acting for itself or in some fiduciary capacity;
002.02 Funding portal means an internet web
				site that is operated by a portal operator for the offer and sale of securities
				pursuant to this Rule;
002.03
				Individual accredited investor means
(A) any
				director, executive officer, or general partner of the issuer of the securities
				being offered or sold, or any director, executive officer, or general partner
				of a general partner of that issuer,
(B) any manager of a limited liability
				company that is the issuer of the securities being offered or sold,
(C) any natural person whose individual net
				worth, or joint net worth with that person's spouse, at the time of his or her
				purchase, exceeds one million dollars ($1,000,000.00), excluding the value of
				the primary residence of such person, or
(D) any natural person who had an individual
				income in excess of two hundred thousand dollars ($200,000.00) in each of the
				two most recent years or joint income with that person's spouse in excess of
				three hundred thousand dollars ($300,000.00) in each of those years and has a
				reasonable expectation of reaching the same income level in the current year;
				and