North Dakota Administrative Code › Title 73 - Securities Commissioner › Article 73-02 - Securities Act of 1951 › Chapter 73-02-01 - Registration of Securities › Section 73-02-01-02 - Adoption of NASAA statements of policy for registrationof certain types of securities

Current through Supplement No. 393, July, 2024
In cooperation with the administrators of the securities laws
				  of other states and with a view toward achieving maximum uniformity of
				  regulations regarding the registration of securities, the filing for approval
				  of the use of an exemption from registration, and the business practices of the
				  securities industry, the securities commissioner will utilize, where
				  applicable, the criteria contained in the North American securities
				  administrators association, inc. (NASAA) statements of policy set forth in this
				  section for offerings registering and for applications for exemption from
				  registration, pursuant to North Dakota Century Code chapter  10-04:
1. Registration of asset-backed securities,
				adopted October 25, 1995, as amended May 6, 2012;
2. Registration of publicly offered
				cattle-feeding programs, adopted September 17, 1980;
3. Church bonds, adopted April 14,
				2002;
4. Church extension fund
				securities, adopted April 17, 1994, as amended April 18, 2004;
5. Registration of commodity pool programs,
				adopted September 21, 1983, as amended May 6, 2012;
6. Corporate securities definitions, adopted
				April 27, 1997, as amended March 31, 2008;
7. Debt securities, adopted April 25,
				1993;
8. Equipment programs,
				adopted November 20, 1986, as amended May 6, 2012;
9. Health care facility offerings, adopted
				April 5, 1985;
10. Impoundment of
				proceeds, adopted April 27, 1997, as amended March 31, 2008;
11. Loans and other material affiliated
				transactions, adopted April 27, 1997, as amended March 31, 2008;
12. Mortgage program guidelines, adopted
				September 10, 1996, as amended May 7, 2007;
13. Registration of oil and gas programs,
				adopted September 22, 1976, as amended May 6, 2012;
14. Registration of direct participation
				programs - omnibus guidelines, adopted March 29, 1992, as amended May 7,
				2007;
15. Options and warrants, as
				amended March 31, 2008;
16.
				Preferred stocks, adopted April 27, 1997, as amended March 31, 2008;
17. Promoter's equity investment, adopted
				April 27, 1997, as amended March 31, 2008;
18. Promotional shares, adopted April 27,
				1997, as amended March 31, 2008;
19. Real estate investment trusts, revised
				and adopted September 29, 1993, as amended May 7, 2007;
20. Real estate programs, adopted September
				29, 1993, as amended May 7, 2007;
21. Risk disclosure guidelines, adopted
				September 9, 2001;
22. Specificity
				in use of proceeds, adopted September 28, 1999, as amended March 31,
				2008;
23. Underwriting expenses and
				underwriter's warrants, adopted April 27, 1997, as amended March 31,
				2008;
24. Unequal voting rights,
				adopted October 24, 1991, as amended March 31, 2008;
25. Uniform disclosure guidelines for cover
				legends, adopted October 2, 2004; and
26. Unsound financial condition, adopted
				April 27, 1997, as amended March 31, 2008.
The statements of policy referred to in this section are
				  found in CCH NASAA reports, published by commerce clearinghouse, and as also
				  available at the office of the North Dakota securities department, 600 east
				  boulevard avenue, state capitol - fifth floor, Bismarck, North Dakota, during
				  regular business hours, or on the department's website, www.ndsecurities.com.
				  The securities commissioner may waive or modify any of the requirements of the
				  statements of policy or guidelines for good cause shown, upon written request
				  of the registrant, if the securities commissioner finds that the requirement is
				  not necessary to protect the public interest under the
				  circumstances.
General Authority:
NDCC
					  10-04-03
Law Implemented:
NDCC
					  10-04-08.1