Arizona Administrative Code
Title 14 - PUBLIC SERVICE CORPORATIONS; CORPORATIONS AND ASSOCIATIONS; SECURITIES REGULATION
Chapter 4 - Corporation Commission - Securities
Article 1 - IN GENERAL RELATING TO THE ARIZONA SECURITIES ACT
Section R14-4-108 - Sales Commission and Expenses
Universal Citation: AZ Admin Code R 14-4-108
Current through Register Vol. 30, No. 38, September 20, 2024
A. No issuer shall incur a liability which must be paid by the issuer as a selling expense in connection with the sale of a public issuance greater than 15% of the amount of said issue actually sold to the public.
B. Selling expense shall include commissions, salaries, advertising and all other expense directly or indirectly incurred in connection with the sale of securities, excluding, however:
1. Attorneys' fees for services in
connection with the issue and sale of the securities and their qualification
for sale under applicable laws and regulations;
2. The cost of prospectuses, circulars and
other documents required to comply with such laws and regulations;
3. Other expenses incurred in connection with
such qualification and compliance with such laws and regulations;
4. Cost of authorizing and preparing the
securities and documents relating thereto, including issue taxes and stamps;
and
5. Charges of transfer agents,
registrars, indenture trustees, escrow holders, depositories, auditors, and of
engineers, appraisers and other experts.
Disclaimer: These regulations may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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