RÉSUMÉ DIGEST
ACT 141 (HB 521) 2016 Regular Session Carmody
Federal law (Title IV of the JOBS Act) provides 2 tier offerings of Regulation A securities:
Tier 1 and Tier 2. Federal law further preempts state registrations of Tier 2 Regulation A
securities.
Existing law in the state of La. provides for all Regulation A Securities. New law modifies
existing law in the state of La. by creating a distinction between Regulation A securities (Tier
1 and Tier 2) to parallel the distinction made in federal law.
Existing law in the state of La. provides for the registration of all Regulation A securities.
New law modifies existing law to provide for the registration of Tier 1 Regulation A
securities. Further reinstitutes a notice filing requirement of Tier 2 Regulation A securities.
New law provides provisions necessary for an issuer of securities to determine the level of
interest in the state of La. for the issuance of Tier 1 Regulation A securities.
Effective upon signature of governor (May 19, 2016).
(Amends R.S. 51:705(H)(1)(intro. para.), 709(5)(a)(intro. para.) and (ii) and (b) and (10))