Kentucky Administrative Regulations
Title 808 - PUBLIC PROTECTION CABINET - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 10 - Securities
Section 808 KAR 10:340 - Registration exemption for certain limited offerings made exclusively to accredited investors
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 292.410(1)(q), 292.420(3), 17 C.F.R. 230.501
NECESSITY, FUNCTION, AND CONFORMITY: KRS 292.500(3) authorizes the commissioner to promulgate administrative regulations necessary to carry out the provisions of KRS Chapter 292. KRS 292.410(1)(q) authorizes the commissioner to grant exemptions for any transaction which the executive director by rule or order finds registration is not necessary or appropriate in the public interest or for the protection of investors. This administrative regulation establishes the requirements for claiming the registration exemption for a limited offering made exclusively to an accredited investor.
Section 1. Definition. "Accredited investor" is defined in 17 C.F.R. 230.501(a).
Section 2. An offer or sale of a security by an issuer in a transaction that meets the requirements established in this administrative regulation shall be exempt from KRS 292.340 through 292.390.
Section 3. Adoption Without Change.
STATUTORY AUTHORITY: KRS 292.410(1)(q), 292.500(3)