New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 11 - SECURITIES
Part 12 - EXEMPT TRANSACTIONS
Section 12.11.12.13 - SECTION 58-13C-202O - EXISTING SECURITY HOLDERS EXEMPTION
Universal Citation: 12 NM Admin Code 12.11.12.13
Current through Register Vol. 35, No. 18, September 24, 2024
A. The exemption contained in Subsection O of Section 58-13C-202 shall only be available for the offer and sale of equity securities where an offer is made pro rata to all such security holders of record who are residents of this state.
B. As used in Subsection O of Section 58-13C-202:
(1) the term "security holder" shall not
include persons who are holders of equity securities issued in violation of or
without compliance with the New Mexico Uniform Securities Act and the rules and
regulations adopted thereunder; and
(2) the term "standby commission" shall mean
the commission payable to a broker-dealer registered under the New Mexico
Uniform Securities Act for its firm commitment to purchase all securities
offered to existing security holders which are not purchased by such security
holders.
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