N.Y. Comp. Codes R. & Regs. tit. 13 § 16.3

Current through Register Vol. 46, No. 45, November 2, 2024

Section 16.3 - Advertising

(a) All advertising in connection with an offering made by prospectus under the New York Real Estate Syndicate Act shall contain the following statement in easily readable print:

This advertisement is not an offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York. The Attorney-General of the State of New York has not passed on or endorsed the merits of this offering.

(b) The statement required under the foregoing subdivision shall similarly be contained on the cover page of all circulars, flyers, cards, letters and other literature employed in connection with soliciting interest in the offering; except that a single page letter of transmittal actually accompanying a prospectus duly filed with the Department of Law need not contain such statement, if included therein it is accurately stated that the prospectus is transmitted herewith.

(c) No abbreviations shall be employed in connection with any such advertising, unless the meaning is unmistakably clear.

(d) No advertisement in any newspaper, magazine, periodical or other media shall contain any reference to a specific rate of distribution.

(e) Advertisements in newspapers, magazines or other periodicals shall be considered consistent with the prospectus if in the following form:

(1) name of offering; amount of offering; price per unit;

(2) if applicable, whether fee or leasehold or other interest being offered;

(3) name and address of distributor; and

(4) the legend required above for advertisements.

N.Y. Comp. Codes R. & Regs. Tit. 13 § 16.3

Amended New York State Register July 3, 2018/Volume XL, Issue 27, eff. 7/3/2018