The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 1st Regular Session, which convenes in January 2023.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
44-1846 - Powers of commission to exempt certain securities or transactions
<!Creation Date: 09/17/22>
<!Author: Arizona Legislative Council>
44-1846. Powers of commission to exempt certain securities or transactions
A. The commission may grant, in accordance with rules adopted by the commission, exemptions from registration of securities under articles 6 and 7 of this chapter on written petition and on a showing by the issuer satisfactory to the commission that registration is not essential to the public interest or for the protection of investors by reason of the special characteristics of the securities or transactions or the limited character and duration of the offering or the special characteristics or limited number of the offerees or investors.
B. The rules adopted by the commission pursuant to subsection A of this section shall require, but not be limited to:
1. A disclosure document as prescribed by the commission.
2. A financial statement.
3. Minimum standards for investor suitability.
4. A final confidential report of the offering to be made within thirty days of the conclusion of the offering.
C. Exemptions granted under this section shall each relate to a specific issuer and issue and shall not add any class of securities or transactions to those exempt under sections 44-1843, 44-1843.01 and 44-1844, shall be revocable at the discretion of the commission and shall not relieve the issuer from the application of any of the provisions of this chapter except sections 44-1841 and 44-1842.
D. A petition filed under this section shall be accompanied by a fee as provided in section 44-1861.