PURPOSE: This rule promotes uniformity with other states and prescribes the guidelines to be applied to notice filings for securities or transactions that are exempt from registration.

PUBLISHER’S NOTE: The secretary of state has determined that the publication of the entire text of the material which is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. Therefore, the material which is so incorporated is on file with the agency who filed this rule, and with the Office of the Secretary of State. Any interested person may view this material at either agency’s headquarters or the same will be made available at the Office of the Secretary of State at a cost not to exceed actual cost of copy reproduction. The entire text of the rule is printed here. This note refers only to the incorporated by reference material.

1. (1) The Securities Division will apply the applicable statement of policy adopted by the North American Securities Administrators Association, Inc. (NASAA) when reviewing notice filings for securities or transactions that are exempt from registration.

2. (2) The following statements of policy are hereby adopted by reference:

   1. (A) Church Bonds as adopted by NASAA on April 14, 2002; and
   2. (B) Guidelines for General Obligations Financing by Religious Denominations as adopted by NASAA on April 17, 1994.
3. (3) The division will apply the applicable NASAA statement of policy specified in section (2) above when reviewing notification filings for securities exempt under section 409.402(a)(9), RSMo.
4. (4) Cross-Reference Sheet. If requested by the Securities Division, a notice filing shall include a cross-reference table to indicate compliance with, or deviation from, the various sections of the applicable statement of policy.

AUTHORITY: sections 409.402(a)(9), RSMo Supp. 2002 and 409.413(a), RSMo 2000.* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed March 21, 1974, effective April 1, 1974. Amended: Filed June 3, 1974, effective June 17, 1974. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. Amended: Filed Dec. 19, 1975, effective Dec. 31, 1975. Amended: Filed Oct. 15, 1987, effective Jan. 29, 1988. Rescinded and Readopted: Filed Feb. 18, 2003, effective Aug. 30, 2003.

*Original authority: 409.402, RSMo 1967, amended 1977, 1978, 1986, 2000 and 409.413, RSMo 1967.