Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 75 - RENEWAL OF SECURITIES REGISTRATIONS › Section 441-075-0020 - Specific Renewal Procedures

Current through Register Vol. 63, No. 7, July 1, 2024
An application for renewal must meet the following
				requirements:
(1) Timely Application.
			 In order to prevent an automatic expiration of an order of registration or
			 renewal, an applicant for renewal should file a complete application no less
			 than 30 days prior to the expiration date of the current order of registration
			 or renewal. Applications not timely filed will be processed, but no assurance
			 can be given that an order of renewal will be issued prior to expiration of a
			 previous order.
(2) Incomplete
			 Applications. Incomplete applications will not be processed.
(3) Application Form. An applicant for
			 renewal shall use the same application form used for the initial registration
			 application or most recent renewal.
(4) Aggregate Offering Amount. A renewal
			 application may be submitted for any aggregate offering amount of securities.
			 An applicant is not limited to renewing unsold portions of previously
			 authorized aggregate offering amounts.
(5) Fees. An applicant for renewal shall
			 submit the appropriate fees as established pursuant to OAR
			 441-065-0001.
(6) Prospectus. An
			 applicant for renewal of an offering, other than a compensatory benefit plan
			 registered under OAR 441-065-0270, shall file one copy of the most recent
			 prospectus including supplements.
(7) Financial Statements. If financial
			 statements are not submitted as part of the prospectus or offering document,
			 the applicant for renewal of an offering other than a compensatory benefit plan
			 registered under OAR 441-065-0270  shall file one copy of the most recent annual
			 financial statements, including a balance sheet, statement of income or
			 operations, statement of cash flows, and all accompanying footnotes. The annual
			 financial statements must be current within 135 days of filing the application
			 for renewal, or interim financial statements current within 135 days must also
			 be submitted.
(8) Additional
			 Documents. An applicant for renewal shall promptly furnish all additional
			 information and documents with respect to the issuer or the securities covered
			 by the renewal application as the Director requests.
(9) Salesperson Applications. If the offering
			 is not being sold by a licensed broker-dealer, the applicant for renewal shall
			 submit a U-4 salesperson application for each person who will sell securities
			 on behalf of the issuer and the appropriate fees as established pursuant to OAR
			 441-175-0002. The requirements for issuer salesperson licensing are set forth
			 in 441-175-0120(11).
(10) Order of
			 Renewal. An order of renewal will be issued by the Director upon receipt and
			 processing of a complete application, unless the Director determines that the
			 application should be denied pursuant to ORS
			 59.105. An order of renewal will
			 be effective for a period of 12 months from the date of issuance.
Stat. Auth.: ORS
				  59.075 &
				  59.285
Stats. Implemented: ORS
				  59.065 &
				  59.075