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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) If an interest in a condominium is registered with the Securities and Exchange Commission of the United States, a declarant satisfies the requirements relating to the preparation of a public offering statement of this chapter if he delivers to the purchaser a copy of the public offering statement filed with the Securities and Exchange Commission to the extent such statement provides the information required by G.S. 47C-4-103, 47C-4-104, 47C-4-105 and 47C-4-106.
(b) The North Carolina Securities Act, Chapter 78A, shall apply to condominiums deemed to be investment contracts or to other securities offered with or incident to a condominium. In the event of such applicability of the North Carolina Securities Act, any real estate broker or salesman registered under Article 1 of Chapter 93A shall not be subject to the provisions of G.S. 78A-36. The exemption provided by the preceding sentence shall not apply to any person who is required to register with the Securities Exchange Commission as a broker or dealer under the Securities and Exchange Act of 1934.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 47C. North Carolina Condominium Act § 47C-4-107. Same; condominium securities - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-47c-north-carolina-condominium-act/nc-gen-st-sect-47c-4-107/
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