Modifying the Minnesota securities act; changing the name from uniform securities act of 2002 to the Minnesota securities act; regulating registration, filings, and fees; defining accredited investor; modifying exempt transactions by requiring issuers selling to purchasers to provide certain transaction notice and fee to administrators by a certain time in advance of sales, permitting issuers to make sales to certain numbers of purchasers, requiring persons distributing issuer securities to provide notice by filing a written description of the transaction and by requiring persons establishing employee benefits plans to provide notice of transaction by filing a written description of the transaction with a consent of service of process; modifying small corporate registration statement requirements; exempting accredited investors from broker dealer, investment adviser and federal covered investment adviser notice registration and filing requirements; making statutory conforming changes; imposing separate filing fees for notices and exemptions; specifying instructions to the revisor of statutes
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