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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.08. Securities. |
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Article 3.08.1. Registration, Notice, and Regulation of Broker-Dealers, Agents, State Investment Advisers, and Federal Covered Advisers, and Investment Adviser Representatives. |
Section 3.08.535. Limitation on sales expenses.
Latest version.
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(a) Expenses of an offering registered under 3 AAC 08.504 or 3 AAC 08.505, including sales expenses, acquisition expenses, expenses for preparing the offering, and other similar expenses, must be reasonable after taking into account the nature of the offering, the amount to be raised by the offering, and the proposed use of the money. (b) If the proposed business of the issuer requires a minimum amount of proceeds to commence or continue the business in the manner proposed, those proceeds are subject to impoundment as provided under 3 AAC 08.190.
Authorities
45.55.110;45.55.950