New Mexico Administrative Code

A. In addition to filing a properly completed and signed form U-7 or model A of form 1-A, a company must file with the director an executed form U-1, uniform application to register securities, and a signed original form U-2, consent to service of process. References in form U-1 …

In addition to filing a properly completed form U-7, applicants for SCOR registration shall file, to the extent applicable, the following documents with the director: A. form of selling agency agreement; B. the issuer's articles of incorporation or other charter documents and all…

An application for registration under this regulation shall be accompanied by a non-refundable fee as provided in Section 58-13C-305 B. Checks shall be made payable to the New Mexico securities division.

A. The company should expect that the director may have comments and questions concerning the answers set forth on form U-7 and that changes may be required to be made to the answers before the registration is declared effective. Comments and questions may either be included in a…

The disclosure document and any supplements thereto must be delivered to each investor before the earliest of any of the following events: (a) any order is accepted; (b) any subscription agreement is signed; or (c) any part of the purchase price is received. The foregoing informa…

A. Within 30 days after the expiration date of the registration, the completion of the offering, or the termination of the offering, whichever occurs first, the issuer shall deliver to the director a report setting forth the application of proceeds, the total number of purchasers…

The following standards apply to registration of SCOR equity securities: A. 12.11.9.9 NMAC, Impoundment of Proceeds; if the proposed business of the company requires a minimum amount of proceeds to commence or continue the business in the manner proposed, the company shall establ…

Financial statements shall be prepared in accordance with either U.S. or Canadian generally accepted accounting principles. If appropriate, a reconciliation note should be provided. If the company has not conducted significant operations, statements of receipts and disbursements …

A. The company may engage broker-dealers or issuer representatives to sell the securities. Commissions, fees, or other remuneration for soliciting any prospective purchaser in this state in connection with this offering may only be paid to persons who, if required to be registere…

All persons, whether natural or legal entities, that transact business in the state of New Mexico as a broker-dealer, an investment adviser, or an issuer of securities, and their representatives and agents.

All selling literature or advertisements announcing the offering shall be filed with the director prior to publication or circulation. An announcement containing no more than the following need not be filed with the director: A. the name of the company; B. characterization of the…

SCOR shall not be available for the securities of any company if the company or any of its officers, directors, 10 percent stockholders or members, promoters or any selling agents of the securities to be offered, or any officer, director or partner of such selling agent: A. has f…

Section 58-13C-605 A NMSA 1978 authorizes the director to adopt, amend and repeal rules necessary or appropriate to carry out the provisions of the New Mexico Uniform Securities Act, Sections 58-13C-101 to 701 NMSA 1978, hereinafter referred to in this Chapter 11 as the "New Mexi…

Permanent.

January 1, 2010, unless a later date is cited at the end of a section.

To implement new rules and revise existing rules to better reflect the realities of current financial, commercial and regulatory principles and practices affecting the securities markets.

[RESERVED]

SCOR is intended to allow small companies to conduct limited offerings of securities. The requirements contained in this subpart shall apply to registrations that utilize form U-7 for registration and are exempt from federal registration under Rule 504 of Regulation D or that uti…

The following issuers are ineligible to use SCOR: A. investment companies subject to the Investment Company Act of 1940; B. companies subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934; C. companies engaged in or which propose to e…

Regulation and Licensing Department - New Mexico Securities Division.

All persons, whether natural or legal entities, that transact business in New Mexico as a broker-dealer, an investment adviser or an issuer of securities, and their representatives and agents.

Section 58-13C-605 A NMSA 1978 authorizes the director to adopt, amend and repeal rules necessary or appropriate to carry out the provisions of the New Mexico Uniform Securities Act, Sections 58-13C-101 to 701 NMSA 1978, hereinafter referred to in this Chapter 11 as the "New Mexi…

Permanent.

January 1, 2010, unless a later date is cited at the end of a section.

To implement new rules and revise existing rules to better reflect the realities of current financial, commercial and regulatory principles and practices affecting the securities markets.

[RESERVED]

Municipal securities exempt under Section 3(a)(2) of the Securities Act of 1933 are covered securities under Section 18(b)(4)(C) of that act, except offers and sales of such securities in states in which issuers of such municipal securities are located. New Mexico municipal and o…

A. The following are additional securities markets designated by the director pursuant to Section 58-13C-201 F: (1) Chicago stock exchange (tier I only); and (2) Pacific stock exchange (tiers I and II only). B. The exemption provided by Section 58-13C-201 F shall include any othe…

Regulation and Licensing Department - New Mexico Securities Division.

A. The exemption provided in Section 58-13C-202 K is not available for any transaction in which the evidence of indebtedness, regardless of form, is offered or sold to more than one investor. Transactions fractionalizing, serializing, or forming partnerships, corporations, or oth…

A. Pursuant to Section 58-13C-202 X, notification must be given on the securities division's form X and filed with the division ten business days prior to any offer of securities. B. No commission, fee or other remuneration shall be paid or given, directly or indirectly, to any p…

For exemptions provided in Section 58-13C-202 Y, a notice filing on the securities division's form Y shall be completed by issuers that are not organized or incorporated in New Mexico to give notice of intent to claim the exemption afforded by Section 58-13C-202 Y for offerings o…

A. The exemption contained in Subsection O of Section 58-13C-202 shall only be available for the offer and sale of equity securities where an offer is made pro rata to all such security holders of record who are residents of this state. B. As used in Subsection O of Section 58-13…

A. Filings required. To claim the exemption provided by Section 58-13C-202 N, a completed form 202N must be filed with the director no less than five business days before the first sale of securities in this state. B. Counting purchasers and security holders. The following rules …

A. For purposes of the exemption provided in Section 58-13C-202 U, employee benefit plans that require advance cash contributions from employees may be denied the benefit of this exemption where employee money is used to purchase securities of the employer or its affiliates unles…

A. Sponsors and persons selling programs and claiming therefor the exemption provided in Section 58-13C-202 CC shall make every reasonable effort to assure that the investment is suitable for the persons being offered or sold interests, taking into consideration each person's fin…

By authority delegated to the director in Section 58-13C-203 to promulgate rules, the issuance of securities by an investment club shall be exempt from Section 58-13C-301 provided that: A. the membership is limited to not more than 75 members and provided that a husband and wife …

A. In addition to the transactions exempt from registration pursuant to Section 58-13C-202 W, pursuant to the authority delegated to the director by Section 58-13C-202 W and Section 58-13C-203 of the New Mexico Uniform Securities Act, transactions meeting the following criteria a…

By authority delegated to the director in Section 58-13C-203, any offer or sale of a security by an issuer in a transaction that meets the requirements of this section is exempt from the registration requirements of Section 58-13C-301. A. Sales of securities shall be made only to…

All persons, whether natural or legal entities, that transact business in New Mexico as a broker-dealer, an investment adviser or an issuer of securities, and their representatives and agents.

No claim of exemption may be made under Subsections A, N, Z, Y or CC of Section 58-13C-202 for any transaction in which use is made of advertisement or public solicitation.

Any person filing a claim of exemption may receive confirmation that the claim has been received by the securities division by sending a copy of the claim or letter and a stamped, self-addressed envelope with the original notice or letter to the division. Any person not following…

A. Pursuant to Section 58-13C-203, offers made by, or on behalf of, issuers on or through the internet shall be exempt from Sections 58-13C-301 and 58-13C-504 if the following conditions are met: (1) the internet offer indicates, directly or indirectly, that the securities are no…

Any offer or sale of a security effected by a Canadian broker-dealer or agent of such broker-dealer exempted from registration pursuant to 12.11.2.17 NMAC is exempted from the securities registration requirements of Section 58-13C-301 and the filing requirements of Section 58-13C…

Section 58-13C-605 A NMSA 1978 authorizes the director to adopt, amend and repeal rules necessary or appropriate to carry out the provisions of the New Mexico Uniform Securities Act, Sections 58-13C-101 to 701 NMSA 1978, hereinafter referred to in this Chapter 11 as the "New Mexi…

Permanent.

January 1, 2010, unless a later date is cited at the end of a section.

To implement new rules and revise existing rules to better reflect the realities of current financial, commercial and regulatory principles and practices affecting the securities markets.

[RESERVED]

A. An "isolated non-issuer transaction" pursuant to Section 58-13C-202 A shall mean an offer or sale of a security that meets both of the following conditions:(1) no 12-month period in which the date of the sale can be included contains more than three sales of the security in Ne…