21VAC5-40-200. Nonissuer distribution.
In accordance with § 13.1-514 B 23 of the Act, an offer or sale of a security by an issuer is exempt from the securities registration requirements of the Act if the offer or sale meets all of the following requirements:
1. Securities involved in these transactions are for nonissuer distribution only; and
2. Securities in these transactions are to be limited to the OTCQX Market Tier of the OTC Market.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 36, Issue 24, eff. July 1, 2020.
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