ENROLLED
2018 Regular Session
HOUSE BILL NO. 233
BY REPRESENTATIVE COUSSAN
1 AN ACT
2 To enact R.S. 51:705(G)(3), relative to the registration of securities; to require the
3 submission of notice filings; to provide notice requirements for crowd funding filings
4 submitted to the Securities and Exchange Commission pursuant to Section
5 18(b)(4)(C) of the Securities Act of 1933; to require a filing fee; and to provide for
6 related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 51:705(G)(3) is hereby enacted to read as follows:
9 ยง705. Registration of securities; when and how required; delivery of prospectus
10 * * *
11 G. Notice filing for federal covered securities.
12 * * *
13 (3)(a) With respect to any security that is a federal covered security under
14 Section 18(b)(4)(C) of the Securities Act of 1933, as amended, and for purposes of
15 renewal, the issuer shall make a notice filing with the commissioner consisting of a
16 copy of all documents filed with the Securities and Exchange Commission pursuant
17 to Section 4A(b) of the Securities Act of 1933 when either of the following Items
18 apply:
19 (i) The issuer's principal place of business, as defined in the rules and
20 regulations of the Securities and Exchange Commission, is in this state.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 233 ENROLLED
1 (ii) Purchases of fifty percent or more of the securities sold by the issuer
2 pursuant to an offering made in reliance on Section 18(b)(4)(C) of the Securities Act
3 of 1933 are to residents of this state.
4 (b) The issuer shall file with the commissioner the documents described in
5 Subparagraph (a) of this Paragraph at either of the following applicable times:
6 (i) When the issuer files the documents with the Securities and Exchange
7 Commission, if filing with the commissioner pursuant to Item (a)(i) of this
8 Paragraph.
9 (ii) Within fifteen days of the date the issuer becomes aware that it meets the
10 criteria described in Item (a)(ii) of this Paragraph, which in no event should be later
11 than fifteen days from the date of completion of the offering.
12 (c) The documents filed pursuant to the provisions of Subparagraph (b) of
13 this Paragraph are effective for twelve months from the date of the filing, and the
14 issuer shall pay a nonrefundable filing fee of one hundred and fifty dollars to the
15 commissioner when an initial or any subsequent notice is filed.
16 * * *
17 Section 2. The provisions of this Act shall become effective January 1, 2019.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.