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Title 3 . Commerce, Community, and Economic Development
Chapter 8 . Land Sales
Section 520. Limitations on manner of offering

3 AAC 08.520. Limitations on manner of offering

(a) An issuer or person acting on behalf of an issuer may not offer or sell securities registered under 3 AAC 08.500 - 3 AAC 08.540 by general solicitation or general advertising. For purposes of this subsection, general solicitation or general advertising includes

(1) an advertisement, article, notice, or other communication published in a newspaper, magazine, or similar medium, or broadcast over television or radio; and

(2) a seminar or meeting to which attendees are invited by general solicitation or general advertising.

(b) The administrator will, in the administrator's discretion, waive or conditionally waive the provisions of (a) of this section. To request a waiver, the registrant must

(1) file a request for waiver;

(2) provide the advertising materials or an adequate description of the advertising materials and identify the media that will be used;

(3) state the reasons for requesting the waiver and show that purchasers are otherwise protected; and

(4) provide an attorney's opinion that the proposed use of the advertising will not invalidate the offering under the laws or regulations of any federal or state regulatory agencies having securities jurisdiction over the offering.

History: Eff. 4/19/2000, Register 154

Authority: AS 45.55.110

AS 45.55.950


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Last modified 7/05/2006