For purposes of SDCL 47-31B-301, an issuer or a selling security holder (andanypersonactingonbehalfofeitherofthem) that publishes through any medium a notice of a proposed offering to be registered under SDCL chapter 47-31B is not deemed to offer its securities for sale through that notice if the notice meets the requirements as set forth in Reg. §230.135 of the Securities Act of 1933. The advertisement does not need to be filed with the division.

Source: 37 SDR 112, effective December 9, 2010.

General Authority: SDCL 47-31B-301 (2).

Law Implemented: SDCL 47-31B-103 , 47-31B-202 (13).