02-032-523 Me. Code R. § 2
Current through 2024-51, December 18, 2024
The purpose of this rule is to facilitate public investment in small businesses. The rule accomplishes this purpose by (a) permitting the use of a simplified registration statement form for smaller offerings and (b) promoting uniformity with other jurisdictions that require the registration of securities.
The rule offers an alternative method of state registration for issuers of securities that are exempt from federal registration pursuant to Rule 504. The rule is intended to reduce the costs and burdens of raising capital for small business while providing relevant information to prospective investors. The rulesets forth the exclusive method of registration by qualification under 32 M.R.S. §16304(6-A).
02-032 C.M.R. ch. 523, § 2