Kansas Administrative Code

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; amended, E-77-40, Aug. 12, 1976; amended Feb. 15, 1977; revoked Oct. 9, 2015.) FOR REGISTRATION

(Authorized by K.S.A. 58-3310(a); implementing K.S.A. 58-3305; effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; amended July 1, 2011; revoked Oct. 9, 2015.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; revoked July 1, 2011.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct. 9, 2015.) REGISTRATION AND FORMS 81-23-1, 81-23-2. (Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; ef- fective Jan. 1, 1971; amended Jan. 1, 1972; re- vo…

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct. 9, 2015.) 136 OFFICE OF THE SECURITIES COMMISSIONER 81-24-2 FOR APPROVAL

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked July 1, 2011.) 81-24-2 and 81-24-3. (Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct. 9, 2015.) OFFERING STATEMENTS 81-25-1…

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; revoked Oct. 9, 2015.) DEEDS AND TITLE 81-26-1 and 81-26-2. (Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct.…

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked July 1, 2011.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; revoked Oct. 9, 2015.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct. 9, 2015.) AND INSPECTIONS

(Authorized by K.S.A. 58- 3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked July 1, 2011.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971;amended,E-77-40,Aug.12,1976;amended Feb. 15, 1977: revoked July 1, 2011.) REQUIREMENTS

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; amended Jan. 1, 1972; revoked Oct. 9, 2015.)

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked Oct. 9, 2015.) PROCEDURE

Registration procedures for broker-dealers and agents. (a) General provi- sions. Each applicant shall be at least 18 years of age. If the applicant is not an individual, then the directors, officers, managing partners, or manag- ing members of the applicant shall be at least 18 y…

Broker-dealer and agent regis- tration fees. (a) The fee for initial registration or renewal of the registration of each broker-dealer shall be $200. (b) The fee for initial registration or renewal of the registration of each agent shall be $60. (c) The CRD shall be authorized to…

(Authorized by K.S.A. 1992 Supp. 17-1270(f); implementing K.S.A. 17-1253; effec- tive, T-87-28, Oct. 1, 1986; effective May 1, 1987; amended June 28, 1993; revoked Oct. 26, 2001.)

(Authorized by K.S.A. 1992 Supp. 17-1270(d); implementing K.S.A. 1992 Supp. 17- 1270(d); effective June 28, 1993; revoked May 31, 1996.)

Sales of securities at financial in- stitutions. (a) Definitions. For purposes of this regulation, the following definitions shall apply: (1) “Affiliate” means a company that controls, is controlled by, or is under common control with a broker-dealer as defined in FINRA rule 5121…

Dishonest or unethical practices of broker-dealers and agents. (a) Unethical conduct. “Dishonest or unethical practices,” as used in K.S.A. 17-12a412(d)(13) and amendments thereto, shall include the conduct prohibited in this regulation and the failure to adhere to stan- dards of…

Supervisory,financialreporting,re- cordkeeping, net capital, and operational re- quirements for broker-dealers. (a) Supervision. (1) Annual review. Each broker-dealer shall conduct a review, at least annually, of the busi- nesses in which it engages. The review shall be reasonabl…

(Authorized by K.S.A. 58-3310(a); effective, E-70-34, July 16, 1970; effective Jan. 1, 1971; revoked July 1, 2011.) BY CITIES; REVENUE BONDS

(Authorized by K.S.A. 1977 Supp. 12-1744b; effective, E-79-5, Jan. 19, 1978; effec- tive May 1, 1978; revoked May 1, 1986.)

(Including Appendix) (Authorized by K.S.A. 1977 Supp. 12-1744b; effective, E-79-5, Jan. 19, 1978; effective May 1, 1978; revoked May 1, 1986.) 137 Articles 82-1. Rules of Practice and Procedure. Compensation to Consumer Intervenors Pursuant to PURPA. 82-2. Oil and Gas Conservatio…

Registration of securities. (a) Orig- inal applications. The following documents and fee shall be required with each original applica- tion submitted for registration of securities: (1) Forms U-1 and U-2; (2) form U-2A, if applicable; (3) the documents and exhibits required for r…

Small company offering registra- tion (SCOR). (a) Any application for registration of securities by qualification may be filed using form U-7 as the disclosure document if the issu- er complies with the statement of policy regard- ing small company offering registration (“SCOR st…

(Authorized by K.S.A. 17-1270(f); implementing K.S.A. 17-1270(f); effective Nov. 12, 1991; revoked Oct. 26, 2001.)

Registration requirements for not-for-profit issuers. Before the offer or sale of any note, bond, debenture, or other evidence of indebtedness by a not-for-profit issuer specified in K.S.A. 17-12a201(7) and amendments thereto, the issuer shall register the security pursuant to K.…

(Authorized by K.S.A. 1982 Supp. 17-1270(f); implementing K.S.A. 1982 Supp. 17- 1261(g); effective Jan. 1, 1966; amended E-77-40, Aug. 12, 1976; amended Feb. 15, 1977; amended, E-80-23, Dec. 12, 1979; amended May 1, 1980; amended May 1, 1983; revoked May 31, 1996.)

Oil and gas exemptions. (a) Defi- nitions. For purposes of this regulation, the fol- lowing definitions shall apply: (1) “Commission” shall be defined as specified in K.A.R. 81-1-1. However, the term shall not include any interest in the oil and gas estate be- ing sold, including…

(Authorized by and implementing K.S.A. 17-1270(f); effective Jan. 31, 1994; revoked Jan. 19, 2007.)

Solicitations of interest before the filing of the registration statement. (a) Ex- emption. Each offer, but not a sale, of a security made by or on behalf of an issuer for the sole pur- pose of soliciting an indication of interest in receiv- ing a prospectus for the security shal…

Accredited investor exemption. (a) Exemption. Each offer or sale of a security by an issuer shall be exempt from the registration re- quirementsofK.S.A.17-12a301through17-12a306 and K.S.A. 17-12a504, and amendments thereto, if each of the following requirements is met: (1) Sales …

Notice filings and fees for offer- ings of investment company securities. (a) Before the initial offer in this state of a security that is a federal covered security as described in K.S.A. 17-12a302(a) and amendments thereto, an investment company shall file the following for eac…

Notice filings and fees for rule 506 offerings. (a) Each issuer of a security under SEC rule 506, 17 C.F.R. 230.506, as adopted by reference in K.A.R. 81-2-1, shall file a notice of sale on form D with the administrator within 15 days after the first sale of the security in Kansa…

Exemption for internet commu- nication. (a) General communication. Commu- nication concerning a security directed generally to anyone having access to the internet shall not be deemed an offer under K.S.A. 17-12a301, and amendments thereto, based solely on the internet communicat…

Standard manuals exemption. The following printed or electronic versions of securities manuals shall be designated by the ad- ministrator for use under K.S.A. 17-12a202(2)(A) (iv), and amendments thereto: (a) “S&P capital IQ standard corporation de- scriptions”; and (b) “mergent’…

Notice filing requirements for securities of agricultural associations. (a) Exemption. The sale of a security of a coopera- tive organized under K.S.A. 17-1601 et seq., and amendments thereto, to a person who is not a member pursuant to K.S.A. 17-1606, and amend- ments thereto, s…

Cross-border trading exemp- tion. (a) Exemption from broker-dealer registra- tion. Each broker-dealer that is a resident of Can- ada and has no place of business in Kansas shall be exempt from registration under K.S.A. 17-12a401, and amendments thereto, if the broker-dealer meets…

(Authorized by K.S.A. 1984 Supp. 17-1270(f); implementing K.S.A. 1984 Supp. 17- 1261(h); effective May 1, 1983; amended, T-86- 38, Dec. 11, 1985; amended May 1, 1986; revoked May 31, 1996.)

Kansas venture capital, inc. exemption. The offer or sale of any security is- sued by Kansas venture capital, inc. (KVCI) or its successors shall be exempt from the registra- tion requirements of K.S.A. 17-12a301 through 17-12a306 and K.S.A. 17-12a504, and amend- ments thereto. (…

Invest Kansas exemption. (a) Exemption from registration requirements. The offer or sale of a security by an issuer shall be ex- empt from the requirements of K.S.A. 17-12a301 through 17-12a306 and K.S.A. 17-12a504, and amendments thereto, if the offer or sale is con- ducted in a…

Exemption for isolated nonissuer transactions. (a) An “isolated nonissuer trans- action” under K.S.A. 17-12a202(1), and amend- ments thereto, shall mean an offer or sale of a se- curity that meets both of the following conditions: (1) No 12-month period in which the date of the s…

(Authorized by K.S.A. 17-1270(f); implementing K.S.A. 17-1262(c); effective, T-83- 40, Nov. 23, 1982; effective May 1, 1983; amend- ed May 1, 1987; amended May 31, 1996; revoked Jan. 19, 2007.)

(Authorized by K.S.A. 1982 Supp. 17-1270(f); implementing K.S.A. 1982 Supp. 17- 1262(f); effective, T-83-40, Nov. 23, 1982; effec- tive May 1, 1983; revoked Jan. 19, 2007.)

Uniform limited offering exemp- tion for rule 505 offerings. (a) Exemption. Each transaction made in compliance with SEC regulation D, rule 505, 17 C.F.R. 230.505, as adopted by reference in K.A.R. 81-2-1, shall be exempt from the registration requirements of K.S.A. 17-12a301 thr…

Exchange exemption. A security shall be exempt under K.S.A. 17-12a201(6)(B), and amendments thereto, if the security is listed or authorized for listing on either of the following exchanges or if the security has seniority equal to or greater than the seniority of a security of t…

Fees for exemption filings and in- terpretive opinions. (a) A fee of $250 shall be remitted with each form D or notice filed in con- nection with the following exemptions: (1) The uniform limited offering exemption for rule 505 offerings as specified in K.A.R. 81-5-6; (2) the acc…

(Authorized by K.S.A. 17-1270(f); implementing K.S.A. 17-1261(g) and 17-1259; effective Nov. 12, 1991; amended June 28, 1993; amended May 31, 1996; revoked Dec. 19, 1997.)

Prospectus. (a) Filing. Each applica- tion for the registration of securities shall include the prospectus to be used in connection with the proposed securities offering. (b) Form and content. (1) Registration by coordination. Each prospec- tus for a securities offering filed for…