South Carolina Code of Regulations
Chapter 13 - ATTORNEY GENERAL
Article 2 - SECURITIES
Subarticle 3 - REGISTRATION OF SECURITIES AND NOTICE FILING OF FEDERAL COVERED SECURITIES
Section 13-307 - Promoters' Equity

Universal Citation: SC Code Regs 13-307

Current through Register Vol. 48, 12, December 27, 2024

A public securities offering by a promotional or development stage company may be disallowed by the Securities Commissioner if the promoter's equity investment is less than:

A. Ten percent (10%) of the first one million ($1,000,000.00) dollars of the aggregate public offering; and

B. Seven percent (7%) of the next five hundred thousand ($500,000.00) dollars of the aggregate public offering; and

C. Five percent (5%) of the next five hundred thousand ($500,000.00) dollars of the aggregate public offering; and

D. Two and one-half percent (2 1/2 %) of the balance over two million ($2,000,000.00) dollars, which may include items submitted by the promoter to meet this requirement whose value has been accepted by the Securities Commissioner or his designee.

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