Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
032 - OFFICE OF SECURITIES
Chapter 532 - SECURITIES OFFERINGS ON THE INTERNET
Section 032-532-3 - Exemption
Universal Citation: 02 ME Code Rules ยง 032-532-3
Current through 2024-38, September 18, 2024
An Internet offer by, or on behalf of, an issuer is exempt from the registration requirements of Subchapter 3 of the Maine Uniform Securities Act, provided that:
1. The Internet offer prominently and conspicuously indicates in the offer and on the cover page of any offering document and on any subscription agreement document either:
A. That the securities are not being
offered to persons in Maine; or
B.
In which specific states, other than Maine, the securities are being
offered;
2. The offer is not otherwise directed to any person in Maine by, or on behalf of, the issuer of the securities; and
3. No sale of the issuer's securities is made in Maine as a direct or indirect result of the Internet offering:
A. Until the
securities being offered are registered under Subchapter 3 of the Maine Uniform
Securities Act, and a final prospectus or other offering document is delivered
to Maine investors prior to any sales; or
B. Unless the sale is exempt from the
registration provisions of the Maine Uniform Securities Act.
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