Corporate & Securities Law

By Jim Hamilton

Nebraska Issues Electronic Form D Policy for Rule 506 Issuers

Issuers offering securities under Rule 506 of federal Regulation D must file with the Nebraska Department of Banking and Finance an authenticated paper copy of the Form D filed electronically with the SEC, beginning March 16, 2009. The Nebraska-filed Form D must include the State Appendix Pages and a $200 fee but Form U-2, Uniform Consent to Service of Process, is not required. The notice must be filed with the Department no later than 15 days after the first sale of securities in Nebraska, but if the 15th day falls on a Saturday, Sunday or holiday, then the following business day. Note that a Form D filed after the due date will void the exemption. Regarding amendments, they must be filed to correct mistakes of fact or errors within a practicable time after discovering them. Amendments to a previously filed paper copy of SEC-filed electronic Form D must contain the most current information to all responses no matter why the Form was filed.

For more information, please see: http://www.ndbf.ne.gov/securities/

Full post as published by Jim Hamilton's World of Securities Regulation on June 25, 2009 (boomark / email).