710 Ind. Admin. Code 4-4-4

Current through October 31, 2024

Section 710 IAC 4-4-4 - Petition for ruling as to materiality

Authority: IC 23-19-6-5

Affected: IC 23-19-3-5

Sec. 4.

(a) An applicant may file a petition for a ruling as to materiality of any information. The petition shall:

(1) be sworn;

(2) set forth the information on which a ruling is requested; and

(3) state the basis for the applicant's belief that the information is not material.

(b) A ruling by the commissioner on the materiality of information shall be:

(1) based solely on the representations in the petition; and

(2) valid only to the extent that the representations are true and complete.

(c) If the commissioner rules that the information is material, the information shall be included in the prospectus. If the commissioner rules that the information is not material, the prospectus shall not be deemed in violation of section 1 or 2 of this rule by virtue of the omission of the information.

(d) The commissioner may decline to rule on any petition filed under this section.

710 IAC 4-4-4

Securities Division; 710 IAC 4-4-4; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR-710100044FRA

Readopted filed 5/12/2016, 1:47 p.m.: 20160608-IR-710160136RFA

Readopted filed 11/30/2022, 4:01 p.m.: 20221228-IR-710220301RFA