reglab/statecodes huggingface dataset:
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.017 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.017 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.018 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.018 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.019 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.019 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.020 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.020 amended under sections
						203(d), (o) and (p), 205, 206, 301, 303, 504, 603(a) and 609 of the
						Pennsylvania Securities Act of 1972 (70 P.S. §§
													1-203(d), (o) and (p),
						1-205,
						1-206,
						1-301,
						1-303,
						1-504,
						1-603(a) and 1-609); and
						section 4 of the Takeover Disclosure Law (70 P.S. §
													74); reserved under section 202.C of the
						Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.021 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.021 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.022 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.022 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 604 - RESERVED › Section 604.023 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												604.023 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 605 - DEPARTMENT EMPLOYEES; RELATIONSHIP WITH LICENSED PERSONS OR QUALIFIED ORGANIZATIONS › Section 605.020 - Conflict of interest

Current through Register Vol. 54, No. 28, July 13, 2024
(a) To
				  protect the public interest and avoid conflicts of interest, the Department has
				  determined, under section 605(b) of the act (70 P.S. §
											1-605(b)), that the
				  provisions of section 605(a) of the act do not prohibit the holding or
				  purchasing of any securities by any employee of the Department if one of the
				  following applies:
(1) The employee did not
				  perform a principal review of the application for the registration of the
				  securities or any other securities of the same issuer registered with the
				  Department under section 205 or 206 of the act (70 P.S. §§
												1-205 and
				  1-206) or was not involved in
				  an investigation, audit or examination of the registration.
(2) The securities to be held or purchased
				  are those of an open-end or closed-end investment company, face amount
				  certificate company or unit investment trust, as those terms are defined in
				  section 2 of the Investment Company Act of 1940 (15 U.S.C.A. §
												80a-2) for which the issuer is registered or
				  has filed a registration statement under the Investment Company Act of 1940
				  (15 U.S.C.A. §§
												80a-1-80 a-64).
(3) The employee did not perform a principal
				  review of the application for licensure or registration of a broker-dealer,
				  agent, investment adviser or investment adviser representative filed with the
				  Department under section 303 of the act (70 P.S. §
												1-303) or was not involved in an
				  investigation, audit or examination of the licensee or
				  registrant.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 606 - MISCELLANEOUS POWERS OF THE DEPARTMENT › Section 606.011 - Financial reports to security holders

Current through Register Vol. 54, No. 28, July 13, 2024
(a) In the case of securities issued under
				  section 203(d) or (p) of the act (70 P.S. §
											1-203(d) and
				  (p)), or registered under section 205 or 206
				  of the act (70 P.S. §§
											1-205
				  and 1-206), the issuer shall, so
				  long as the securities are held of record by a Commonwealth resident, deliver
				  its financial statements to each holder at least annually and within 120 days
				  after the close of the fiscal year of the issuer.
(b) The financial statements must comply with
				  section 609(c) of the act (70 P.S. §
											1-609(c)) and the rules and
				  regulations adopted thereunder, except that, if the securities were issued in a
				  transaction subject to this section wherein the financial statements delivered
				  to offerees were not required to be audited or if the financial statements were
				  not required to be given to the offerees, the financial statements do not need
				  to be audited.
(c) This section
				  does not apply if, on the date of the close of the issuer's fiscal year, the
				  issuer is subject to section 13 or 15(d) of the Securities Exchange Act of 1934
				  (15 U.S.C.A. §§
											78m and
				  78o(d)) and,
				  within 120 days of that date, has made a filing with the Securities and
				  Exchange Commission in accordance with either of those sections.
The provisions of this §
												606.011 amended under sections
						606(a) and (d) and 609(a) of the Pennsylvania Securities Act of 1972
						(70
						P.S. §§
													1-606(a) and
						(d) and
						1-609(a)); section 202.C of
						the Department of Banking and Securities Code (71 P.S. §
													733-202.C); and section 9(b) of the Takeover
						Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 606 - MISCELLANEOUS POWERS OF THE DEPARTMENT › Section 606.031 - Advertising literature

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Advertisements
. Except as permitted by section 606(c) of the
				  act (70 P.S. §
											1-606(c)), a person may not
				  publish an advertisement concerning a security in this Commonwealth unless all
				  of the following are met:
(1) The
				  advertisement is either of the following:
(i)
				  Permitted by this section and complies with any requirements imposed by this
				  section.
(ii) Specifically excluded
				  from application of this section by subsection (f).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 606 - MISCELLANEOUS POWERS OF THE DEPARTMENT › Section 606.041 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												606.041 amended under sections
						606(a) and (d) and 609(a) of the Pennsylvania Securities Act of 1972
						(70
						P.S. §§
													1-606(a) and
						(d) and
						1-609(a)); reserved under
						section 202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.010 - Use of prospective financial statements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Except as set forth in subsection (b),
				  the use of prospective financial statements, including those contained in
				  feasibility studies, is prohibited in connection with offerings registered
				  under sections 205 and 206 of the act (70 P.S. §§
											1-205 and
				  1-206) or in offerings exempt
				  from registration under section 202(a) or 203(d) of the act (70 P.S.
				  §§
											1-202(a) and
				  1-203(d)), unless the
				  prospective financial statements used or distributed comply with the act and
				  this section.
(b) The use or
				  distribution of prospective financial statements in connection with the
				  following securities offerings is permissible if it complies with section 401
				  of the act (70 P.S. §
											1-401):
(1) Offers or sales of securities of
				  reporting companies as the term is defined in section 102(q) of the act
				  (70
				  P.S. §
												1-102(q)).
(2) Offers and sales of securities made under
				  an exemption not set forth in subsection (b).
(3) Offers and sales of securities made to
				  experienced private placement investors.
(4) Offers and sales of securities to an
				  individual, and spouse when purchasing as joint tenants or as tenants by the
				  entireties, if the minimum amount of securities to be purchased in the offering
				  by the individual is $500,000 or more and the purchase of the securities is for
				  cash or an unconditional obligation to pay cash which obligation is to be
				  discharged within 5 years from the date of sale of the securities.
(5) Offers and sales of securities to a
				  person which is organized primarily to purchase, in nonpublic offerings,
				  securities of corporations or issuers engaged in research and development
				  activities in conjunction with a corporation and one of the following exists:
(i) The person has purchased $450,000 or more
				  of the securities for cash or for an unconditional obligation to pay cash which
				  obligation is to be discharged within 5 years from the date of sale of the
				  securities, excluding a purchase of securities of a corporation in which the
				  affiliates of the person directly or beneficially own more than 50% of the
				  corporation's voting securities.
(ii) The person is purchasing $500,000 or
				  more of the securities being offered for cash or an unconditional obligation to
				  pay cash which obligation is to be discharged within 5 years from the date of
				  sale of the securities being purchased.
(6) Offers and sales of securities made to
				  accredited investors as that term is defined in Rule 501(a) (17 CFR
				  230.501(a)) (relating to
				  definitions and terms used in Regulation D) in Regulation D of the Securities
				  Act of 1933 (15 U.S.C.A.
				  §§
												77a-77aa).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.011 - Amendments to filings with Department

Current through Register Vol. 54, No. 28, July 13, 2024
A person wishing to amend or otherwise ensure that a
					 previously filed application, notice, statement, report or any other document
					 is current and accurate in all material respects shall file with the Department
					 an amendment which meets all of the following conditions:
(1) The amendment must identify the
				  previously filed document being amended.
(2) If amending a form promulgated by the
				  Department, the amendment must identify the:
(i) Name of the form.
(ii) Date the form originally was filed with
				  the Department.
(iii) Items or
				  schedules of the form which are being amended.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.012 - Computing the number of offerees, purchasers and clients

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Under section 609(a) of the act
				  (70
				  P.S. §
											1-609(a)), the
				  Department, to provide a consistent method of computing the number of offerees,
				  purchasers and clients under relevant provisions of the act and regulations
				  promulgated thereunder, has determined that all of the following apply:
(1) A person who is offered or purchases
				  securities or becomes a client is counted as a separate offeree, purchaser or
				  client, unless the person is otherwise specifically excluded under this
				  section.
(2) If more than one
				  person, related by blood or marriage, are offerees, purchasers or clients, the
				  persons are counted as one offeree, purchaser or client if they either:
(i) Reside in the same household.
(ii) Are under 18 years of age.
(3) An entity is counted as one
				  person, and a direct or beneficial owner of equity interests or equity
				  securities in the entity is not counted as an offeree, purchaser or client,
				  unless one of the following applies:
(i) With
				  respect to computing offerees and purchasers, the entity was organized to
				  specifically acquire the securities being offered or purchased.
(ii) With respect to computing clients, if
				  the services provided by the person effecting transactions in securities for
				  the account of the entity or providing investment advice to the entity are
				  based on the investment decisions of the direct or beneficial owners rather
				  than on the investment objectives of the entity.
(4) Notwithstanding the provisions of
				  paragraph (3)(i):
(i) In the case of a trust,
				  if the settlor and the beneficiaries are related by blood or marriage, the
				  trust and the trustee, when acting on behalf of the trust or simultaneously on
				  his own behalf, is counted only as one offeree, purchaser or client.
(ii) Multiple trusts are counted as one
				  offeree, purchaser or client if all of the beneficiaries are related by blood
				  or marriage.
(5)
				  Notwithstanding the provisions of paragraph (3)(i) in an entity in which all
				  owners of equity interests or equity securities, excluding contingent interests
				  and director's qualifying shares, are persons related by blood or marriage
				  residing in the same household, the following apply:
(i) The entity is counted as one
				  person.
(ii) The owners of the
				  interests or securities in the entity are not counted as offerees, purchasers
				  and clients.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.031 - Application

Current through Register Vol. 54, No. 28, July 13, 2024
(a) This chapter,
				  and constructions and interpretations issued by the Department, set forth the
				  minimum requirements for financial statements included, under the act, as part
				  of the following:
(1) Registration Statements
				  under section 206 of the act (70 P.S. §
												1-206).
(2) Registration Statements under section 205
				  of the act (70 P.S. §
												1-205) which
				  are exempt under section 3(b) of the Securities Act of 1933 (15 U.S.C.A. §
												77c(b)).
(3) Proxy materials under section 203(o) of
				  the act (70 P.S. §
												1-203(o)).
(4) Reports distributed to securityholders
				  under section 606(a) of the act (70 P.S. §
												1-606(a)).
(5) Financial reports of broker-dealers or
				  investment advisers required under Subpart C (relating to registration of
				  broker-dealers, agents, investment advisers and investment adviser
				  representatives and notice filings by Federally covered advisers).
(6) Exempt transactions under section 203(p)
				  of the act.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.032 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												609.032 issued under the
						Pennsylvania Securities Act of 1972 (70 P. S. §§
													1-101-1-704); reserved under section 202.C of
						the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.033 - Accountants

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Qualification of accountants.
(1) The Department will not recognize a
				  person:
(i) As a certified public accountant
				  who is not registered and in good standing under the laws of the place of the
				  person's residence or principal office.
(ii) As a public accountant who is not in
				  good standing and entitled to practice under the laws of the place of the
				  individual's residence or principal office.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.034 - Financial statements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) If an
				  issuer proposes to register its securities for sale under section 205 or 206 of
				  the act (70 P.S. §§
											1-205
				  and 1-206), and for which
				  securities a registration statement has been filed with the Securities and
				  Exchange Commission under section 5 of the Securities Act of 1933
				  (15 U.S.C.A. §
											77e), the issuer shall:
(1) Comply with the financial statement
				  requirements as set forth in the rules and regulations of the Securities and
				  Exchange Commission (17 CFR
				  210.1-01-210.12-29)
				  (relating to form and content of and requirements for financial statements,
				  Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act
				  of 1940, Investment Advisers Act of 1940, and Energy Policy and Conservation
				  Act of 1975).
(2) Prepare the
				  financial statements in accordance with generally accepted accounting
				  principles.
(3) Present the
				  financial statements in comparative form.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.036 - Financial statements; annual reports

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Distribution and
				  auditing.
(1) If an issuer is
				  required under the act and this title to distribute financial information to
				  securityholders, it must include all of the following financial statements:
(i) Balance sheets, statements of income,
				  stockholders' equity and cash flows all in comparative form, for the issuer's
				  last 2 fiscal years.
(ii)
				  Consolidated financial statements of the issuer and its subsidiaries, or both,
				  in comparative form, for the issuer's last 2 fiscal years.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 609 - REGULATIONS, FORMS AND ORDERS › Section 609.037 - Foreign financial statements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Under section 609(c) of the act
				  (70
				  P.S. §
											1-609(c)),
				  financial statements and financial information prepared in accordance with
				  Canadian generally accepted accounting principles, consistently applied, may be
				  distributed to the public if a registration statement designated as Form F-7,
				  F-8, F-9 or F-10 by the Securities and Exchange Commission has been filed with
				  the Department under section 205 or 206 of the act (70 P.S. §§
											1-205 and
				  1-206) and all of the
				  following apply:
(1) The securities which are
				  the subject of the registration statement designated as Form F-9 by the
				  Securities and Exchange Commission are either nonconvertible preferred stock or
				  nonconvertible debt which are to be rated in one of the four highest rating
				  categories by one or more Nationally recognized statistical rating
				  organizations.
(2) The securities
				  which are the subject of a registration statement designated as Form F-7 by the
				  Securities and Exchange Commission are offered for cash on the exercise of
				  rights granted to existing securityholders.
(3) The securities which are the subject of a
				  registration statement designated as Form F-8 by the Securities and Exchange
				  Commission are securities to be issued in an exchange offer.
(4) The securities which are the subject of a
				  registration statement designated as Form F-10 by the Securities and Exchange
				  Commission are offered and sold pursuant to a prospectus in which the
				  Securities and Exchange Commission has not required a reconciliation to United
				  States generally accepted accounting principles with respect to the financial
				  information presented therein.
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart F - Administration › Chapter 610 - RESERVED › Section 610.010 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												610.010 amended under sections
						202(i), 206(b) and (d), 302(f), 606(d), 609(a) and (c) and 610 of the
						Pennsylvania Securities Act of 1972 (70 P.S. §§
													1-202(i),
						1-206(b) and (d), 1-302(f),
						1-606(d), 1-609(a) and (c) and 1-610); reserved under section 202.C of the
						Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart G - General Provisions › Chapter 701 - ADMINISTRATIVE PROVISIONS › Section 701.010a - Filing of registration forms

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The Department will provide links to all
				  forms and General Instructions on the Department's web site.
(b) Forms filed with the Department must be
				  in the format prescribed by the Department in the General
				  Instructions.
(c) All references to
				  forms mean paper forms or an electronic format prescribed by the Department or
				  the Securities and Exchange Commission, NASAA or successors.
(d) The use of an electronic signature has
				  the same force and effect as a manual signature.
The provisions of this §
												701.010a issued under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart G - General Provisions › Chapter 701 - ADMINISTRATIVE PROVISIONS › Section 701.011 - Filing of exemption forms

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
				  The Department will provide links to all forms and General Instructions on the
				  Department's web site.
(b) All
				  forms and accompanying documents filed with the Department must be in the
				  format prescribed by the Department in the General Instructions.
(c) All references to forms mean paper forms
				  or an electronic format prescribed by the Department or the Securities and
				  Exchange Commission or successors.
(d) The use of an electronic signature has
				  the same force and effect as a manual signature.
The provisions of this §
												701.011 issued under section 202.C
						of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart G - General Provisions › Chapter 701 - ADMINISTRATIVE PROVISIONS › Section 701.020 - Electronic filing

Current through Register Vol. 54, No. 28, July 13, 2024
Unless the Department orders otherwise, all documents shall
					 be filed with the Department in the manner prescribed in the accompanying
					 General Instructions.
The provisions of this §
												701.020 issued under section 202.C
						of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart G - General Provisions › Chapter 701 - ADMINISTRATIVE PROVISIONS › Section 701.030 - Fees

Current through Register Vol. 54, No. 28, July 13, 2024
Issuers filing registration or exemption forms by
					 electronic means shall include the payment of fees or assessments required
					 under section 602 or 602.1 of the act (70 P.S. §§
											1-602 and
					 1-602.1) by one of the
					 following means:
(1) Automated
				  Clearing House transfer of funds to the Department's designated
				  depository.
(2) As otherwise
				  required by the Department in the General Instructions.
The provisions of this §
												701.030 issued under section 202.C
						of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart H - Reserved › Chapter 901 - RESERVED › Section 901.011 - Reserved

Current through Register Vol. 54, No. 28, July 13, 2024
The provisions of this §
												901.011 reserved under section
						202.C of the Department of Banking and Securities Code (71 P.S. §
													733-202.C); section 609(a) of the
						Pennsylvania Securities Act of 1972 (70 P.S. §
													1-609(a)); and section 9(b)
						of the Takeover Disclosure Law (70 P.S. §
													79(b)).
Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part VII - Securities › Subpart I - Takeover Offerors › Chapter 1001 - TAKEOVER DISCLOSURES › Section 1001.010 - Takeover offeror report regarding participating broker-dealers

Current through Register Vol. 54, No. 28, July 13, 2024
The Department has determined that, to carry out the
					 purposes of the Takeover Disclosure Law (law) (70 P.S. §§
											71-85), it is necessary to require the
					 offeror to file, as an exhibit to the registration statement filed under
					 section 4 of the law (70 P.S. §
											74), Department Form TDL-1 in accordance with
					 the General Instructions thereto.
The provisions of this §
												1001.010 amended under sections
						203(d), (o) and (p), 205, 206, 301, 303, 504, 603(a) and 609 of the
						Pennsylvania Securities Act of 1972 (70 P. S. §§
													1-203(d), (o) and (p),
						1-205,
						1-206,
						1-301,
						1-303,
						1-504,
						1-603(a) and 1-609); sections
						4 and 9(b) of the Takeover Disclosure Law (70 P.S. §§
													74 and
						79(b)); and section 202.C of
						the Department of Banking and Securities Code (71 P.S. §
													733-202.C).
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 1 - PRELIMINARY PROVISIONS › Section 1.1 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this part, have
					 the following meanings, unless the context clearly indicates otherwise:
Department
-The Department of Community and
					 Economic Development.
PERC System
-A system of formalized lines
					 of communication within the Department which is designed to expedite the review
					 and evaluation of grant requests and applications through the Department. The
					 procedure applies to the review of applications in the areas of housing,
					 redevelopment, planning, certain transportation applications and Act IX
					 applications. It does not apply to areas where there already exists a formally
					 established review board, for example, Conservation and Recreation Bond
					 Program, Training Employment Assistance and Manpower Program and the
					 Neighborhood Assistance Program.
Regional field office
-One of the five
					 divisional offices of the Department with responsibility for regional
					 administration of Department functions.
Regional specialists
-A professionally
					 trained expert on community programs. One such specialist is employed at each
					 of the regional field offices of the Department.
Secretary
-The Secretary of the
					 Department.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 1 - PRELIMINARY PROVISIONS › Section 1.2 - Applicability of general rules

Current through Register Vol. 54, No. 28, July 13, 2024
Under 1 Pa. Code §
										31.1 (relating to scope of part),
					 1 Pa. Code Part II (relating to general rules of administrative practice and
					 procedure) is applicable to the activities of and proceedings before the
					 Department.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 1 - PRELIMINARY PROVISIONS › Section 1.3 - Department regional offices

Current through Register Vol. 54, No. 28, July 13, 2024
The addresses of the regional field offices of the
					 Department are the following:
(1)
				  Regional Director
Department of Community and Economic Development
908 State Office Building
Broad and Spring Garden Streets
Philadelphia, Pennsylvania 19130
(215) 560-2083
(2) Regional Director
Department of Community and Economic Development
Suite 201, Samters Building
101 Penn Avenue
Scranton, Pennsylvania 18503-2025
(717) 963-4573
(3) Regional Director
Department of Community and Economic Development
Commonwealth Keystone Building
400 North Street, 4th Floor
Harrisburg, Pennsylvania 17120
(717) 720-7300
(4) Regional Director
Department of Community and Economic Development
1405 State Office Building
300 Liberty Avenue
Pittsburgh, Pennsylvania 15222
(412) 565-5002
(5) Regional Director
Department of Community and Economic Development
1200 Lovell Place
Erie, Pennsylvania 16503
(814) 871-4241
This section cited in 12 Pa. Code §
												133.5 (relating to Department
						regional offices).
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.1 - General provisions

Current through Register Vol. 54, No. 28, July 13, 2024
The Department maintains a public information system which
					 consists of documents issued as regulations, statements of policy, program
					 rulings, notices and commerce information.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.2 - Regulations

Current through Register Vol. 54, No. 28, July 13, 2024
The Department promulgates regulations under its statutory
					 authority. The regulations are codified in this title. Eligibility and
					 participation requirements for program applicants are prescribed in the
					 regulations. The regulations implement and interpret law and prescribe policy
					 as well as practice and procedure before the Department.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.3 - Statements of policy

Current through Register Vol. 54, No. 28, July 13, 2024
(a) For the
				  purposes of providing guidance to the general public and to program applicants
				  and participants and of interpreting law and regulations, the Department issues
				  statements of policy. The statements of policy are codified in this
				  title.
(b) Statements of policy are
				  issued under the authority of the Secretary or a deputy secretary. A program
				  applicant or participant may rely on a statement of policy only insofar as the
				  statement binds the Department to follow a stated course of action.
				  Periodically, the Department may revise prospectively a statement of policy,
				  and program applicants and participants are cautioned to determine whether a
				  statement of policy relied upon is current.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.4 - Program rulings

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The
				  Department issues program rulings in two forms as follows:
(1)
Private rulings
. Upon
				  request, the Department issues private rulings to program applicants or
				  participants based upon specific factual information provided in writing by the
				  applicant or participant. Private rulings are not formally published, but
				  copies with identifying and confidential material deleted may be obtained upon
				  request from the Department of Community and Economic Development, Office of
				  Chief Counsel, Commonwealth Keystone Building, 400 North Street, 4th Floor,
				  Harrisburg, Pennsylvania 17120, (717) 783-8452. The purpose of a private ruling
				  is to advise a program applicant or participant of the Department's application
				  of the law and regulations to a specific factual situation unique to the
				  applicant or participant. Private rulings may be relied upon only by the
				  particular program applicant or participant concerned, based upon the facts
				  supplied, absent statutory or regulatory change or rescission by the
				  Department.
(2)
Program
				  rulings
. At its sole discretion, the Department issues program rulings
				  to provide guidance and interpretation of law and regulations to a general
				  factual situation. Program rulings are not formally published but a list of
				  program rulings currently in force and effect will be published annually as a
				  notice in the
Pennsylvania Bulletin
. Copies of program rulings
				  may be obtained upon request from the Department of Community and Economic
				  Development, Office of Chief Counsel, Commonwealth Keystone Building, 400 North
				  Street, 4th Floor, Harrisburg, Pennsylvania 17120, (717) 783-8452. The purpose
				  of a program ruling is to advise Department personnel and interested persons of
				  the Department's application of law and regulations to a general factual
				  situation. Program rulings may be relied upon by a program applicant or
				  participant only to the extent of the facts relied upon and the assumptions
				  made in the ruling itself, absent statutory or regulatory change or rescission
				  by the Department. Periodically, the Department may revise prospectively a
				  program ruling, and program applicants and participants are cautioned to
				  determine whether a program ruling relied upon is current.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.5 - Notices

Current through Register Vol. 54, No. 28, July 13, 2024
The Department issues notices under statutory and
					 regulatory authority. Notices are published in the
Pennsylvania
					 Bulletin
.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart A - General Information › Chapter 2 - COMMERCE INFORMATION SYSTEM › Section 2.6 - Commerce information

Current through Register Vol. 54, No. 28, July 13, 2024
The Department issues written informational materials in
					 the form of guidelines, application forms and packets, brochures, press
					 releases, pamphlets and the like. The purpose of these materials is to call
					 attention to Department procedure or to well-established interpretations or
					 applications of law and regulations without application to a specific set of
					 facts. These materials also provide general information regarding tourism,
					 marketing and economic development efforts of the Department. The materials are
					 issued by various offices within the Department when it is believed that
					 general information will assist program applicants, participants or the general
					 public. These informational materials are available from the appropriate office
					 upon request.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.1 - Purpose, scope and authority

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
				  This chapter sets forth the practice and procedure before the Department in
				  adjudicatory proceedings relating to complaints and petitions filed with the
				  Department under section 8211 of the act (relating to petitions for declaratory
				  orders and complaints to department).
(b) This chapter is not applicable to a
				  proceeding to the extent that the act sets forth inconsistent practice or
				  procedure.
(c) Adjudicatory
				  proceedings under section 8211 of the act will be governed by the rules in 1
				  Pa. Code Part II (relating to general rules of administrative practice and
				  procedure), except if inconsistent with the procedures in this chapter or in
				  the act.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.2 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following terms and phrases, when used in this chapter,
					 have the following meanings, unless the context clearly indicates
					 otherwise:
Act
-53 Pa.C.S. §§ 8001-8271
					 (relating to the Local Government Unit Debt Act).
Complainant
-A local government unit, a
					 taxpayer of the local government unit or other interested party authorized by
					 the act to file a complaint under section 8211 of the act (relating to
					 petitions for declaratory orders and complaints to department) asserting the
					 validity or invalidity of proceedings for the incurring of debt or for the
					 issuance of tax anticipation notes or for the exclusion of debt as
					 self-liquidating or subsidized.
Office of the Department
-For purposes of
					 the receipt of filings, documents and other materials, the issuance and entry
					 of orders, and other matters related to adjudicatory proceedings filed under
					 section 901 of the act, the Department of Community and Economic Development,
					 Office of Chief Counsel, Commonwealth Keystone Building, 400 North Street, 4th
					 Floor, Harrisburg, Pennsylvania 17120.
Local government unit
-An entity as defined
					 in section 8002(c) of the act (relating to definitions).
Petitioner
-A local government unit, a
					 taxpayer of the local government unit or other interested party as authorized
					 by the act to file a petition for declaratory order asserting the validity or
					 invalidity of proceedings for the incurring of debt or for the issuance of tax
					 anticipation notes, or for the exclusion of debt as self-liquidating or
					 subsidized, as authorized by section 8211 of the act.
Respondent
-A local government unit, an
					 official of a local government unit or another person named, or the real party
					 in interest, in a complaint or petition filed under section 8211 of the
					 act.
Secretary
-The Secretary of the
					 Department.
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.3 - Timely filing

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Complaints
				  or petitions shall be received for filing at the office of the Department
				  within the time limits prescribed by section 8211 of the act (relating to
				  petitions for declaratory orders and complaints to department). Other
				  pleadings, submittals or other documents required or permitted to be filed
				  shall be received for filing at the office of the Department within the time
				  limits prescribed in this chapter or, if applicable, as prescribed by the
				  presiding officer.
(b) The date of
				  receipt at the office of the Department, as recorded by the Department, and not
				  the date of deposit in the mails is determinative of the date of filing. The
				  complainant or petitioner will be notified in writing by the Department of
				  receipt of the filing of a complaint or petition.
(c) Section 1908 of Title 1 of the
Pennsylvania Consolidated Statutes
(relating to computation of
				  time) applies for purposes of computing time for filing and notice requirements
				  in this chapter.
(d) This section
				  supersedes 1 Pa. Code §
										31.11 (relating to timely filing
				  required).
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.4 - Entry of orders

Current through Register Vol. 54, No. 28, July 13, 2024
(a) In computing
				  a period of time involving the date of entry of an order by the Department, the
				  date of entry shall be the day the office of the Department mails or hand
				  delivers copies of the order to the parties. The date of entry of an order may
				  or may not be the day of its adoption by the Department. The Department will
				  clearly indicate on each order the date of its entry. As prescribed by
				  Pa.R.A.P. No. 1512, the period within which an appeal to Commonwealth Court,
				  under section 8211(d) of the act (relating to petitions for declaratory orders
				  and complaints to department), shall be filed is 15-calendar days from the date
				  of entry of the appropriate order by the Department.
(b) Orders of the Department will be
				  effective as of the dates of entry, unless otherwise specifically provided in
				  the orders.
(c) This section
				  supersedes 1 Pa. Code §§
										31.13 and
				  31.14 (relating to issuance of
				  agency orders; and effective dates of agency orders).
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.5 - Appearance before the Department

Current through Register Vol. 54, No. 28, July 13, 2024
(a) An
				  individual complainant or petitioner may appear on his own behalf. An
				  authorized officer or employe of a local government unit may represent the
				  local government unit before the Department.
(b) Representation of parties by an attorney
				  is permitted as provided by 1 Pa. Code §
										31.22 (relating to appearance by
				  attorney).
(c) Subsection (a)
				  supersedes 1 Pa. Code §
										31.21 (relating to appearance in
				  person).
Pennsylvania Code › Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT › Part I - General Administration › Subpart B - Local Government Unit Debt Act Administrative Rules and Procedures › Chapter 11 - LOCAL GOVERNMENT UNIT DEBT ACT ADMINISTRATIVE RULES AND PROCEDURES › Section 11.6 - Filings

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Pleadings,
				  submittals and other documents, other than correspondence, shall be bound at
				  the top of the page, with two-hole fasteners approximately 2 3/4 inches from
				  the edge of each side of each page.
(b) Except as otherwise provided by this
				  chapter, a single pleading or other submittal may be accepted for filing with
				  respect to a particular proceeding and one or more related proceedings. If
				  offered with respect to one or more related proceedings, the pleading or
				  submittal shall reference the other proceedings in its caption or
				  title.
(c) No pleading, submittal
				  or other document filed in respect of a section 8211 adjudicatory proceeding is
				  required to be accompanied by a filing fee.
(d) Except as may be otherwise provided by
				  this chapter, or as may be ordered or requested by the Department, pleadings,
				  submittals or other documents filed with the Department shall consist of an
				  original and two conformed copies, including exhibits, if any.
(e) No submission by facsimile machine will
				  be accepted.
(f) This section
				  supersedes 1 Pa. Code §§ 33.2(c),
				  33.4, 33.15, 33.21 and
				  33.22.