Ind. Admin. Code tit. 710, r. 4-2-3 – Limitations on scope of exemption

Sec. 3. (a) The exemption provided by IC 23-19-2-2(14) is only an exemption for the specific offering from the registration requirements of IC 23-19-3-1. It is not an exemption for the securities being offered and sold, which means that the securities may not subsequently be offered or sold unless:

(1) subsequently registered; or
(2) an exemption from registration then exists.

IC 23-19-2-2(14) does not provide an exemption from any section of IC 23-19 other than IC 23-19-3-1, including the antifraud and civil liability provisions.

(b) Issuers are reminded of their obligation to provide to purchasers and the commissioner further material information, if any, as may be necessary to make the information required under IC 23-19-2-2(14), in light of the circumstances under which it is furnished, not misleading.

(Securities Division; 710 IAC 4-2-3; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR- 710100044FRA; readopted filed May 12, 2016, 1:47 p.m.: 20160608-IR-710160136RFA; readopted filed Nov 30, 2022, 4:01 p.m.: 20221228-IR-710220301RFA)