Ala. Admin. Code r. 830-X-4-.04

Current through Register Vol. 42, No. 12, September 30, 2024

Section 830-X-4-.04 - Termination Date Of Prospectus

(1) In the event that an offering of securities is not completed within nine (9) months from the effective date of registration, a revised prospectus shall be prepared and filed for approval by the Commission not later than thirty (30) days prior to the expiration date of the prospectus then in use. The revised prospectus shall provide supplemental information as may be deemed necessary by the Commission in order that investors may exercise an informed judgment in determining whether or not to purchase such securities. Such information shall include updated financial statements.

(2) No prospectus shall be used after the material contained therein becomes materially inaccurate or misleading. In such event, sales shall be discontinued and a revised prospectus shall be prepared and filed for approval by the Securities Commission.

(3) This rule shall not apply to offerings by open-end investment companies or offerings subject to the provisions of the Securities Act of 1933 and General Rules and Regulations thereunder as amended.

Author:

Ala. Admin. Code r. 830-X-4-.04

Filed September 30, 1982. Readopted: Filed November 9, 1983.

Statutory Authority:Code of Ala. 1975, § 8-6-23.