Monday, June 25, 2012

North Dakota Proposes to Incorporate NASAA Policy Statements

Statements of policy of the North American Securities Administrators Association (NASAA) would be applied to registered and exempt securities offerings in North Dakota as appropriate, as proposed by the North Dakota Securities Department.

The following policy statements would be incorporated: Asset-Backed Securities, Cattle-Feeding, Church Bonds, Church Extension Funds, Commodity Pool Programs, Corporate Securities Definitions, Debt Securities, Equipment Programs, Health Care Facility Offerings, Impoundment of Proceeds, Loans and Other Material Affiliated Transactions, Mortgage Programs, Oil and Gas Programs, Direct Participation Programs—Omnibus Guidelines, Options and Warrants, Preferred Stocks, Promoter’s Equity Investment, Promotional Shares, Real Estate Investment Trusts, Real Estate Programs, Risk Disclosure Guidelines, Specificity in Use of Proceeds, Underwriting Expenses and Underwriter’s Warrants, Unequal Voting Rights, Uniform Disclosure Guidelines for Cover Legends and Unsound Financial Condition.

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