Okla. Admin. Code § 660:11-11-5

Current through Vol. 42, No. 8, January 2, 2025

Section 660:11-11-5 - Application of NASAA Statements of Policy and guidelines

(a)Application of NASAA Statements of Policy and guidelines. The Administrator in the Administrator's discretion may apply any Statements of Policy or guidelines adopted by NASAA, or its successors, as applicable, to the proposed offer or sale of a security for which notice of exemption of securities must be filed under the Securities Act.

(b)Cross-reference sheet. Issuers, or interested persons on the issuer's behalf, shall prepare a cross-reference sheet setting out each section of the Statement of Policy or guideline applied by the Administrator pursuant to this Section, and reflecting the document and page numbers where compliance with each section of the Statement of Policy or guideline is disclosed. Any variance or failure to comply with particular sections of an applicable Statement of Policy or guideline shall be noted by the issuer and the reasons for the variance shall be fully stated.

(c)Failure to comply. Failure to comply with any provision of an applicable Statement of Policy or guideline promulgated by NASAA may serve as the grounds for denial of the registration.

(d)Waiver provisions. The Administrator in the Administrator's discretion may waive any of the requirements of the Statements of Policy or guidelines upon written request of the registrant, if the Administrator finds that the requirement is not necessary to protect the public interest under the circumstances. Any such request shall be filed with the registration statement and shall indicate the reasons why the requirement is not necessary under the circumstances described in the registration statement.

Okla. Admin. Code § 660:11-11-5

Adopted by Oklahoma Register, Volume 41, Issue 22, August 1, 2024, eff. 8/15/2024