Any transaction which has been or shall be exempted from the requirements of T.C.A. § 56-3-702 shall, insofar as it is otherwise subject to the provisions of T.C.A. § 56-3-703, be likewise exempted from T.C.A. § 56-3-703.

Authority: T.C.A. §56-3-708 to implement T.C.A. §56-3-702. Administrative History: Original rule certified June 10, 1974.