Effective: September 10, 2012
Latest Legislation: House Bill 487 - 129th General Assembly
(A) The transactions enumerated in section 1707.06 of the Revised Code may be consummated on compliance with this section and section 1707.11 of the Revised Code.
(B) A description, verified either by the oath of the individual filing it or of any individual having knowledge of the facts, shall be filed with the division of securities by the issuer, or by a majority of the incorporators of the issuer prior to election of officers if it is an incorporated issuer, or by a licensed dealer, which description shall be on forms prescribed by the division and shall set forth:
(1) The name of the issuer;
(2) A brief description of the securities;
(3) The amount of the securities to be offered after the filing of the description for sale in this state and, if all the securities are not to be offered by the person filing the description, then the respective amounts to be offered by others, so far as those amounts are known, and the names and addresses of the other offerors;
(4) A brief statement of the facts which show that the securities are the subject matter of a transaction enumerated in section 1707.06 of the Revised Code;
(5) The price at which the securities are to be offered for sale.
(C) The individual who executes the application for registration by description on behalf of the applicant shall state the individual's relationship to the applicant and certify all of the following:
(1) The individual has executed the application on behalf of the applicant.
(2) The individual is fully authorized to execute and file the application on behalf of the applicant.
(3) The individual is familiar with the applicant's application.
(4) To the best of the individual's knowledge, information, and belief, the statements made in the application are true, and the documents submitted with the application are true copies of the original documents.
(D) A registration by description is effective seven business days after the division receives the description on applicable forms, together with any filing fee required under this division, if no proceeding is pending under section 1707.13 or 1707.131 of the Revised Code. However, the division may permit an earlier effective date by rule or by issuing a certificate of acknowledgment for the registration by description.
For an offering that exceeds fifty thousand dollars, a filing fee of fifty dollars shall be submitted with the registration by description.
(E) In order to correct errors or omissions, a registration by description may be amended by the person that originally filed it, by the filing, in the same manner as in the case of an original registration by description, of an amended registration by description or of an amendment of the original registration by description.
(F) When transactions in any securities enumerated in section 1707.06 of the Revised Code have been registered and the fees prescribed by this section have been paid, the transactions may be consummated so long as the registration remains in full force.
Structure Ohio Revised Code
Title 17 | Corporations-Partnerships
Section 1707.01 | Securities Definitions.
Section 1707.02 | Exempt Securities.
Section 1707.03 | Exempt Transactions.
Section 1707.04 | Issuance of Securities in Reorganizations.
Section 1707.041 | Control Bids Made Pursuant to Tender Offer or Request or Invitation for Tenders.
Section 1707.042 | Prohibited Acts Relating to Control Bids.
Section 1707.043 | Preventing Manipulative Practices.
Section 1707.05 | Definitions.
Section 1707.051 | Offerings-Securities Registration Exemption.
Section 1707.052 | Offerings-Disclosure to Purchasers.
Section 1707.053 | Offerings-Certification From Purchasers.
Section 1707.054 | Portal Operators-License.
Section 1707.055 | Portal Operators-Prohibited Conduct for Non-Dealer Operators.
Section 1707.056 | Portal Operators-Oversight, Purchase Limits, and Purchaser Privacy.
Section 1707.057 | Portal Operators-Record Keeping Requirements.
Section 1707.058 | Issuers-Disqualification From Registration Exemption.
Section 1707.06 | Transactions Requiring Registration.
Section 1707.08 | Registration by Description.
Section 1707.09 | Registration by Qualification.
Section 1707.091 | Registration by Coordination.
Section 1707.092 | Notice Filings.
Section 1707.093 | Electronic Filings.
Section 1707.10 | Provisional Registration by Qualification.
Section 1707.11 | Consent to Service.
Section 1707.12 | Documents Open to Inspection.
Section 1707.13 | Suspension and Revocation of Registration.
Section 1707.131 | Refusing Registration.
Section 1707.14 | Dealer's License.
Section 1707.141 | Investment Adviser's License Required - Exceptions - Notice Filing Requirement.
Section 1707.142 | Compliance With Federal Laws - Federal Documents to Be Filed With Division.
Section 1707.15 | Applying for Dealer's License.
Section 1707.151 | Application for and Issuance of Investment Adviser's License.
Section 1707.16 | Application for and Issuance of Salesperson's License.
Section 1707.162 | State Retirement System Investment Adviser License Required.
Section 1707.164 | Bureau Chief Investment Officer - Securities License Required.
Section 1707.165 | Application for Bureau Chief Investment Officer - Investigation - Examination.
Section 1707.17 | Renewal - License Fees.
Section 1707.18 | Application for Transfer of License.
Section 1707.19 | Refusal, Suspension, and Revocation of License.
Section 1707.20 | Adopting, Amending, and Rescinding Rules, Forms, and Orders.
Section 1707.201 | Federal Provisions.
Section 1707.21 | Registration Statement May Be Filed With Securities and Exchange Commission.
Section 1707.22 | Appeals - Effect of Order.
Section 1707.23 | Division of Securities - Enforcement Powers.
Section 1707.24 | Contempt Proceedings.
Section 1707.26 | Injunction Against Violations.
Section 1707.261 | Director's Request for Restitution or Rescission.
Section 1707.27 | Appointment of Receiver.
Section 1707.28 | Statute of Limitations.
Section 1707.29 | Presumption of Knowledge.
Section 1707.30 | Certificate of Division as Evidence.
Section 1707.31 | Certified Copies as Evidence.
Section 1707.32 | Insurance Securities.
Section 1707.34 | Warehouse Receipts for Intoxicating Liquor.
Section 1707.35 | Securities Authorized Before July 22, 1929.
Section 1707.36 | Attorney-Inspector - Control-Bid Attorneys.
Section 1707.37 | Division of Securities Fund.
Section 1707.38 | Effect of Violation on Validity of Security.
Section 1707.39 | Qualification of Securities Sold Without Compliance.
Section 1707.391 | Late Applications.
Section 1707.40 | Civil Liabilities.
Section 1707.41 | Civil Liability of Seller for Fraud.
Section 1707.42 | Civil Liability of Adviser.
Section 1707.43 | Remedies of Purchaser in Unlawful Sale.
Section 1707.431 | Claiming Exemption for Publicly Advertised Meeting.
Section 1707.44 | Prohibited Acts.
Section 1707.45 | Burden of Proof.
Section 1707.46 | Duties of Commissioner of Securities.
Section 1707.47 | Ohio Investor Recovery Fund.
Section 1707.471 | Restitution Assistance Awards From Ohio Investor Recovery Fund.
Section 1707.48 | Division of Securities to Retain Documents and Records or Copies.
Section 1707.49 | Reporting Elder Financial Exploitation.
Section 1707.50 | Violations, Penalties, and Private Rights of Action.