New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter III - THEATRICAL SYNDICATION FINANCING
Part 50 - THEATRICAL FINANCING
Section 50.5 - Amended offering literature

(a) Offering literature and investment agreements filed pursuant to section 50.1(n) of this Part may be used for a period of not more than nine months from the date of the original submission for filing with the Department of Law. After nine months, the offering may be continued by the submission for filing of amended offering literature setting forth all material information relating to the offering at such time. Offering literature filed with the Securities and Exchange Commission as an amendment shall be submitted for filing to the Department of Law prior to its use in New York State.

(b) In the event of any material change in the information contained in the offering literature, as originally submitted or amended, which occurs prior to the completion of the offering, the offeror or other issuer of syndication interests in a theatrical production company shall file with the Department of Law and distribute to prospective purchasers amended offering literature disclosing such material changes. In the event of any material change in the terms of the offer or the information contained in the offering literature which requires the filing of amended offering literature, an offer by letter shall be made to each investor to rescind his investment in the theatrical production company, provided, however, that an offer of rescission shall not be required when the issuer or other offeror has, prior to the completion of the offering, acquired an interest in a theatrical production or any elements thereof for the benefit of the theatrical production company where such acquisition is consistent with the business plan of the theatrical production company as set forth in the offering literature pursuant to section 50.4 of this Part.