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Can you summarize ALAC Chapter 830-X-6?
Alabama Securities Commission > EXEMPT SECURITIES AND EXEMPT TRANSACTIONS
Short Summary
This legal document pertains to the waiver of testing requirements for applicants seeking a securities agent license for the offer or sale of church or other eleemosynary institutional securities exempt pursuant to Code of Ala. 1975, 8-6-10(8). The waiver is subject to certain conditions, including the filing of an offering circular with the Commission, submission of a draft of the proposed offering circular, submission of a registration form for individuals soliciting investor funds, and compliance with the Guidelines for Eleemosynary Financing. The Guidelines are incorporated into this rule by reference. The document provides the statutory authority and history of the rule. No specific exemptions or penalties are mentioned.
Whom does it apply to?
Applicants seeking a securities agent license for the offer or sale of church or other eleemosynary institutional securities exempt pursuant to Code of Ala. 1975, 8-6-10(8)
What does it govern?
Exempt securities and exempt transactions
What are exemptions?
No specific exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Alabama