This
transactional exemption is an expansion of, and an alternative to, the
statutory exemption found in Code of
Alabama 1975, 8-6-11(a)(9). This further limited offering exemption
provides for the sale of the securities,
which are part of an issue, not made to more than 25 persons (other than those
designated in Code of Alabama 1975,
8-6-11(a)(8)) in this State during any period of 12 consecutive months.
Required documents to be filed:
(1)
Check for $300.00 made payable to the Alabama
Securities Commission (nonrefundable)
(2)
Notice
of Transaction Form or Form
D
(3)
Consent to Service of Process,
Form U-2
(4)
Evidence of registration for those individuals/firms
receiving commissions
(5)
Evidence of compliance with suitability requirements
for sales to non-accredited investors
(6)
Evidence of compliance with legend requirements
(7)
Evidence of compliance prohibiting advertising or
solicitation
Notice should be filed with the
Alabama Securities Commission no later than fifteen (15) days after the later
to occur of (i) the sale of a security to the
eleventh purchaser, wherever such purchaser is located, in a transaction
involving purchasers in this State, or (ii) the first sale to a purchaser in
this State.
Extension of this Notice: Each request for extension of this notice
should be accompanied by a nonrefundable filing fee of $300.00
(Pursuant to Code of Alabama, 1975, Section 8-6-11(c).).
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