PURPOSE: This rule prescribes the circumstances under which certain transactions in unit investment trust units are exempted from the registration requirements of the Missouri Uniform Securities Act.

1. (1) The commissioner, pursuant to the provisions of section 409.402(c) of the Missouri Uniform Securities Act (the Act), RSMo exempts from the requirements of sections 409.301 and 409.303 of the Act any offer or sale of a unit investment trust after an initial bona fide sale of the unit and repurchase of it by a sponsor of the unit investment trust.

AUTHORITY: section 409.402(c), RSMo 1986.* Original rule filed Oct. 16, 1986, effective Feb. 12, 1987.

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