Ala. Admin. Code r. 830-X-4-.09

Current through Register Vol. 43, No. 1, October 31, 2024

Section 830-X-4-.09 - Expense Limitation

(1) The total expenses of an offering of securities shall not in the aggregate exceed 20% of the gross proceeds of the offering.

(2) The expenses for marketing the securities paid by the issuer shall not exceed 15% of the gross proceeds of the offering.

(3) Total expenses shall include: underwriting discounts and commissions, value of options or warrants granted underwriters, finders' fees, printing and engraving, advertising, registration and filing fees, legal fees and expenses, accounting fees and expenses and all other expenses directly or indirectly incurred in connection with the sale of securities.

(4) Marketing expenses shall include: underwriting discounts and commissions, value of options or warrants granted underwriters, finders' fees, underwriters' expense allowances and all other expenses directly or indirectly incurred in connection with the marketing of securities.

Author:

Ala. Admin. Code r. 830-X-4-.09

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

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