Title 808 | Chapter 010 | Regulation 430
808 KAR 10:430.Required filing for oil, gas, and mineral securities offerings relying upon the registration exemption in KRS 292.410(1)(i).
Section 1.
Notice of Claim of Registration Exemption; Filing Requirements. To claim a registration exemption pursuant to KRS 292.410(1)(i) for any security that otherwise has available the securities registration exemption in KRS 292.410(1)(i) and evidences an oil, gas, or mineral interest, a person shall file a Notice of Claim of Exemption with the Office of Financial Institutions. The Notice of Claim of Exemption shall include the following:(1)
A letter containing:(a)
A declaration that the KRS 292.410(1)(i) exemption will be relied upon;(b)
A statement as to which condition in KRS 292.410(1)(i)3 is satisfied;(c)
A representation that persons who receive commissions, finders fees, or other remuneration in connection with sales of securities are in compliance with KRS 292.330;(d)
A representation that the seller believes that all the buyers are purchasing for investment;(e)
A representation that each buyer will sign an appropriate "investment intent" letter, a copy of which shall be included with the claim of exemption, stating in part that the buyer is not taking with a view to distribution;(f)
A representation that the securities to be issued will bear an appropriate restrictive legend, a copy of which shall be submitted with the claim of exemption;(g)
A representation that the offerees and purchasers shall have access to information concerning the issuer and any persons significant to the success of the undertaking; and(h)
A representation that public advertising or solicitation shall not be employed in effecting the proposed transaction.(2)
A copy of the articles of incorporation, bylaws, limited partnership agreement, or other organizational document which reflects the security holders' rights;(3)
A prospectus, offering circular or memorandum making full disclosure of material facts, including a discussion of all salient risk factors, unless the document was not prepared, because the transaction satisfies the condition in KRS 292.410(1)(i)3a; and(4)
Current financial statements of the issuer, which shall be filed with the notice and shall be contained in any disclosure document.HISTORY: (32 Ky.R. 1500; 1893; eff. 5-5-2006; TAm eff. 11-7-2012; Crt eff. 2-27-2020.)
808 KAR 10:430.Required filing for oil, gas, and mineral securities offerings relying upon the registration exemption in KRS 292.410(1)(i).
Section 1.
Notice of Claim of Registration Exemption; Filing Requirements. To claim a registration exemption pursuant to KRS 292.410(1)(i) for any security that otherwise has available the securities registration exemption in KRS 292.410(1)(i) and evidences an oil, gas, or mineral interest, a person shall file a Notice of Claim of Exemption with the Office of Financial Institutions. The Notice of Claim of Exemption shall include the following:(1)
A letter containing:(a)
A declaration that the KRS 292.410(1)(i) exemption will be relied upon;(b)
A statement as to which condition in KRS 292.410(1)(i)3 is satisfied;(c)
A representation that persons who receive commissions, finders fees, or other remuneration in connection with sales of securities are in compliance with KRS 292.330;(d)
A representation that the seller believes that all the buyers are purchasing for investment;(e)
A representation that each buyer will sign an appropriate "investment intent" letter, a copy of which shall be included with the claim of exemption, stating in part that the buyer is not taking with a view to distribution;(f)
A representation that the securities to be issued will bear an appropriate restrictive legend, a copy of which shall be submitted with the claim of exemption;(g)
A representation that the offerees and purchasers shall have access to information concerning the issuer and any persons significant to the success of the undertaking; and(h)
A representation that public advertising or solicitation shall not be employed in effecting the proposed transaction.(2)
A copy of the articles of incorporation, bylaws, limited partnership agreement, or other organizational document which reflects the security holders' rights;(3)
A prospectus, offering circular or memorandum making full disclosure of material facts, including a discussion of all salient risk factors, unless the document was not prepared, because the transaction satisfies the condition in KRS 292.410(1)(i)3a; and(4)
Current financial statements of the issuer, which shall be filed with the notice and shall be contained in any disclosure document.HISTORY: (32 Ky.R. 1500; 1893; eff. 5-5-2006; TAm eff. 11-7-2012; Crt eff. 2-27-2020.)