Section 36b-31-19c - Post-sale registration(a) A person seeking to register a security which has been sold or offered for sale without compliance with section 36b-16 of the general statutes shall file the following documents and provide the following information to the commissioner: (1) A registration statement containing the documents, information and filing fee required by sections 36b-18 and 36b-19(b) of the general statutes; (2) an additional filing fee of $50; and (3) a schedule listing (A) the names, addresses and telephone numbers of those persons to whom the unregistered securities were sold without compliance with section 36b-16 of the general statutes, (B) the number of securities sold to each such person, (C) the consideration, whether in cash or item of value, paid by each such person, and (D) a single document, signed and sworn to by an executive officer of the applicant for registration, which contains an explanatory statement and a statement of non-prejudice.(b) The explanatory statement shall include the following information: (1) A statement that the securities were sold or offered for sale without compliance with section 36b-16 of the general statutes; (2) the total number of securities sold without compliance with section 36b-16 of the general statutes; (3) a statement that, to induce each person to whom securities have been sold in violation of the Act to sign the statement of non-prejudice, the explanatory statement is being prepared for presentation to that person; (4) a full and complete statement of remedies provided under section 36b-29 of the general statutes; (5) the aggregate cost, whether in cash or item of value, of the securities sold without compliance with section 36b-16 of the general statutes; (6) any commission or other remuneration received by any person in connection with the sale of the unregistered securities; and (7) a statement containing any other material facts relating to the sale or offer for sale of the unregistered securities.(c) The statement of non-prejudice shall provide: (1) That the security holder to whom unregistered securities were sold has read the explanatory statement; (2) that the security holder is satisfied that he has not been defrauded, damaged or prejudiced by the prior failure to register the securities; and (3) that each security holder to whom unregistered securities have been sold has not waived any of his rights under the Act by signing the statement.(d) The applicant for registration shall file the document containing both the explanatory statement and the statement of non-prejudice with the commissioner for review. The commissioner may object to the content of the document but shall in no way pass upon its truthfulness. Following review by the commissioner, the applicant for registration shall send the document by certified mail, return receipt requested, to each person to whom unregistered securities were sold and shall submit copies of all return receipts to the commissioner. The applicant for registration shall certify to the commissioner that substantially all of those persons to whom unregistered securities were sold have signed the document, and shall return the signed documents to the commissioner. No registration statement under this section shall be made effective until the commissioner has received the document signed by substantially all of the persons to whom unregistered securities have been sold.(e) A registration statement filed under this section shall become effective if and when the commissioner so orders.Conn. Agencies Regs. § 36b-31-19c
Effective August 22, 1994; Transferred July 3, 1995