North Carolina Administrative Code › Title 18 - SECRETARY OF STATE › Chapter 06 - SECURITIES DIVISION › Subchapter A - RECODIFIED RULES › Section .1200 - EXEMPTIONS › Section 06A .1212 - NOTICE FILING PROCEDURES FOR OFFERINGS OF INVESTMENT COMPANY SECURITIES

Current through Register Vol. 39, No. 2, July 15, 2024
(a) In lieu of filing a copy of the federal
				  registration statement, an investment company offering securities covered under
				  Section 18(b)(2) of the Securities Act of 1933, as amended, may satisfy the
				  notice filing requirement of
				  G.S.
				  78A-31(a) by filing the fees
				  required by that section, together with Form NF, Uniform Investment Company
				  Notice Filing. This filing need not be made nor fees paid on any security
				  issued by an investment company if such security is exempt pursuant to the
				  provisions of
				  G.S.
				  78A-16 or
				  G.S.
				  78A-17.
(b) By filing Form NF, an investment company
				  thereby agrees that, upon receipt of a request from the Securities Division,
				  the investment company will promptly provide to the Division a copy of its
				  current prospectus and statement of additional information, if any, as filed
				  with the Securities and Exchange Commission.
(c) By executing the Form NF, the investment
				  company thereby agrees, that for purposes of complying with the laws of this
				  State, such execution shall be deemed to be the consent of the investment
				  company to have the Administrator irrevocably appointed as its agent in this
				  State upon whom may be served any notice, process or pleading in any action or
				  proceeding against it arising out of, or in connection with, the sale of
				  securities covered by such Form NF or arising out of the violation of the
				  securities laws of this State; and that any action or proceeding against the
				  investment company may be commenced in any court of competent jurisdiction and
				  proper venue within this State by service of process upon the Administrator
				  with the same effect as if the investment company was organized or created
				  under the laws of this State and had been served lawfully with process in this
				  State. In the event any notice, process or pleading is served on the investment
				  company through the Administrator, the Administrator shall promptly provide a
				  copy of such notice, process, or pleading to the person indicated in Item 5 of
				  Form NF.
(d) Upon filing Form NF
				  and paying fee required by
				  G.S.
				  78A-31(a)(1), the securities
				  of the investment company may be offered for sale and sold into, from, and
				  within this State until the expiration of the notice filing period pursuant to
				  G.S.
				  78A-31(a)(4). In order to
				  offer or sell its securities after the expiration of its notice filing, the
				  investment company must extend its notice filing as provided in Paragraph (e)
				  of this Rule. In the event that the Securities Division requests that the
				  investment company provide it with a copy of the investment company's
				  prospectus or statement of additional information, such request shall not
				  restrict the ability of the investment company to offer its securities for sale
				  in this State provided that the Division has received the Form NF and fees as
				  required by
				  G.S.
				  78A-31(a).
(e) A notice filing may be renewed by the
				  investment company by filing a current Form NF and paying such fees as are
				  required by
				  G.S.
				  78A-31(a) within two months
				  after the expiration of the prior notice filing period. Each renewal of a
				  notice filing shall expire on December 31.
(f) Amendments to increase the amount of
				  shares to be offered may be made by filing a revised Form NF, together with the
				  fees required by
				  G.S.
				  78A-31(a)(5).
Authority
					 G.S.
					 78A-31(a);
					 78A-49(a);
Temporary Adoption Eff. October 1, 1997;
Eff. August 1,
					 1998;
Temporary Amendment Eff. January 1, 1999;
Codifier determined that agency findings did not meet criteria for temporary
					 rule;
Temporary Amendment Eff. September 29, 1999;
Amended Eff. August 1, 2000;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. December 6,
					 2016.