(1) Pursuant to 30-10-105(15) , MCA, offers of
securities made by, or on behalf of, issuers on or through the internet or
similar proprietary or common carrier electronic system, shall be exempt from
30-10-201 through 30-10-207, MCA, if the following
conditions are met:
offer indicates, directly or indirectly, that the securities are not being
offered to residents of Montana;
offer is not specifically directed to any person in Montana by, or on behalf
of, the issuer of the securities; and
sales of the issuers securities are made in Montana as a result of the offering
until the securities being offered have been registered in accordance with 30-10-201
through 30-10-207, MCA, and a final prospectus or Form U-7 is
delivered to Montana investors prior to such sales.
(2) Nothing in this rule precludes an issuer, or a person acting on behalf of an
issuer, that offers securities on the internet or similar proprietary or common
carrier electronic system, or effects sales to persons in Montana following
such an offering, from relying on any other available exemption.
History: 30-10-105(15) and 30-10-107, MCA; IMP, 30-10-105(15), MCA; NEW, 1996 MAR p. 1828, Eff. 7/4/96.