(1) With respect to a security that is a federal covered security as defined in section
18(b)(2) of the federal “Securities Act of 1933”, as amended, 15 U.S.C. sec. 77r (b)(2), that is not otherwise exempt under section 11-51-307, 11-51-308, 11-51-308.5, or 11-51-309, before the initial offer of the security, the issuer must file with the securities
commissioner a form NF established by the North American Securities Administrators
Association, or an analogous form prescribed by the securities commissioner, along
with a notice filing fee, which fee shall be determined and collected pursuant to
(2) A notice filing under this section is effective only for securities sold within
twelve months after the date on which the form NF was filed with the securities commissioner. On or before the expiration date, the issuer may renew a notice filing by filing
another form NF and paying a renewal fee, which fee shall be determined and collected
pursuant to section 11-51-707. The renewed notice filing becomes effective upon the expiration of the filing being
(3) If the securities commissioner finds there is a failure to comply with a notice
filing or fee requirement of this section, the securities commissioner may issue a
stop order suspending the offer or sale of those securities for which notice filing
has not been made or the notice filing fee has not been paid. If the securities commissioner finds that a deficiency is corrected, the stop order
is void and no penalty will be imposed.
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