Legislative Session number- 85

Bill Name: SF2241

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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