Washington Administrative Code › Title 460 - Financial Institutions, Department of (Securities Division) › Chapter 460-16A - General rules › Section 460-16A-205 - Adoption of NASAA statements of policy

Current through Register Vol. 24-14, July 15, 2024
(1) In order to promote uniform regulation,
			 the administrator adopts the following North American Securities Administrators
			 Association (NASAA) statements of policy for offerings registering pursuant to
			 RCW
			  21.20.180 or
			 21.20.210:
(a) Registration of publicly offered cattle
			 feeding programs, as adopted September 17, 1980;
(b) Registration of commodity pool programs,
			 as adopted with amendments through May 6, 2012;
(c) Equipment programs, as adopted with
			 amendments through May 6, 2012;
(d)
			 Registration of oil and gas programs, as adopted with amendments through May 6,
			 2012;
(e) Real estate investment
			 trusts, as adopted with amendments through May 7, 2007;
(f) Real estate programs, as adopted with
			 amendments through May 7, 2007;
(g)
			 Loans and other material affiliated transactions, as adopted with amendments
			 through May 6, 2018;
(h) Options
			 and warrants, as adopted with amendments through March 31, 2008;
(i) Registration of direct participation
			 programs - omnibus guidelines, as adopted with amendments through May 7,
			 2007;
(j) Mortgage program
			 guidelines, as adopted with amendments through May 7, 2007;
(k) Church bonds, as adopted April 14,
			 2002;
(l) Corporate securities
			 definitions, as adopted with amendments through May 6, 2018;
(m) Impoundment of proceeds, as adopted with
			 amendments through March 31, 2008;
(n) Preferred stock, as adopted with
			 amendments through September 11, 2016;
(o) Promotional shares, as adopted with
			 amendments through March 31, 2008, except that the term promotional shares
			 shall be limited to those equity securities which were issued within the last
			 three years and that all promotional shares in excess of twenty-five percent of
			 the shares to be outstanding upon completion of the offering may be required to
			 be deposited in escrow absent adequate justification that escrow of such shares
			 is not in the public interest and not necessary for the protection of
			 investors;
(p) Registration of
			 asset-backed securities, as adopted with amendments through May 6, 2012, except
			 for offerings registering or required to register pursuant to chapter 460-33A
			 WAC or
			 RCW
			  21.20.705 through
			 21.20.855;
(q) Promoters' equity investment, as adopted
			 with amendments through September 11, 2016;
(r) Specificity in use of proceeds, as
			 adopted with amendments through September 11, 2016;
(s) Underwriting expenses, underwriter's
			 warrants, selling expenses, and selling security holders, as adopted with
			 amendments through May 6, 2018;
(t)
			 Unsound financial condition, as adopted with amendments through May 6,
			 2018;
(u) Unequal voting rights, as
			 adopted with amendments through September 11, 2016;
(v) Guidelines for general obligation
			 financing by religious denominations, as adopted April 17, 1994;
(w) Risk disclosure guidelines, as adopted
			 September 9, 2001;
(x) Church
			 extension fund securities, as adopted with amendments through April 18, 2004;
			 and
(y) Guidelines for cover
			 legends, as adopted October 2, 2004.
(z) Electronic offering documents and
			 electronic signatures, as adopted May 8, 2017.