2000 Minnesota Statutes

     80A.11 Registration by qualification. 

    Subdivision 1.    Authority.  Any security may be 
 registered by qualification.  

    Subd. 2.    Contents.  A registration statement under 
 this section shall contain the information specified in section 
 80A.12 and the consent to service of process required by section 
 80A.27, subdivision 7, and shall contain such further 
 information and be accompanied by such further documents as the 
 commissioner by rule or otherwise requires.  

    Subd. 3.    When effective.  A registration statement 
 under this section becomes effective when the commissioner so 
 orders.  

    Subd. 4.    Condition of registration.  The commissioner 
 may by rule or order require as a condition of registration 
 under this section that a prospectus containing any designated 
 part of the information specified in subdivision 2 be sent or 
 given to each person to whom an offer is made before or 
 concurrently with (a) the first written offer made to that 
 person(otherwise than by means of a public advertisement) by or 
 for the account of the issuer or any other person on whose 
 behalf the offering is being made, or by any underwriter or 
 broker-dealer who is offering part of an unsold allotment or 
 subscription taken by that person as a participant in the 
 distribution, (b) the confirmation of any sale made by or for 
 the account of any such person, (c) payment pursuant to any such 
 sale, or (d) delivery of the security pursuant to any such sale, 
 whichever first occurs.  

    Subd. 5.    Withdrawal.  A registration statement that 
 is pending effectiveness will be considered withdrawn if no 
 activity occurs with respect to the application for a period of 
 120 days.  Notwithstanding section 80A.28, subdivision 1, 
 paragraph (c), no part of the filing fee shall be returned if a 
 registration statement is withdrawn according to this 
 subdivision. 

    HIST: 1973 c 451 s 11; 1986 c 444; 1996 c 439 art 2 s 6