CHART III SECURITIES EXEMPTED BY REASON OF SELLERS THEREOF (For text of law see under No. 4, Exemptions, in each State.) Acts of Congress, Corporations Organized Under See under Federal Controlled Corporations 1 Must be organized in State. 2 Applies only where Bank is not regular dealer in securities selling for a licensee other than issuer or underwriter at commission not exceeding 2%. 3 Applies to own securities only. 4 Applies to own stock only. 5 When bank is not engaged in dealing in securities. 1 Company must be organized in State. 2 Applies to own securities only. 3 Must be authorized by State Securities Commission to do business in State. 4 Applies to own stock only. Co-Operative Corporations, Etc., of State, Organized To Market Farm 1 Securities must be sold by him for commission of less than 1%. Federal Controlled Corporations Organized Under Act of Congress and Subject to Federal Control 1 Where offerings are made in county where principal office is located. 2 Where securities are sold to not more than 25 purchasers. B. Company Organized in County South Carolina C. Company Organized in State, Where Securities Are Disposed of at Cost Not Greater Than 1% and No Part is Issued for Intangibles or Property Not Located in State Indiana Iowal Ohio2 1 Cost cannot exceed $500; no limitation on issue for intangibles. 2 Cost cannot exceed 2% plus $500. D. Companies to Incorporators Only as Bona Fide Final Holders E. Company With Not Less Than 75% of Assets in State 1 Issuance of securities must have been authorized prior to August 1, 1920. 2 Not less than two-thirds of assets in State. 3 Applies to corporations of any State. Mining Corporations Engaged in Actual Mining Operations Idaho Security Holders, Companies To See under Stockholders, by Companies. 1 Must be sold or distributed without payment of commissions or expenses. 2 Applies to stock dividends only when approved by Executive Council. 3 Applies to stock dividends only. Stockholders or Security Holders in Connection With Merger or Re 1 Company must be organized in State. Oregon5 South Carolina3-4 2 Applies only where Company is not a regular dealer in securities selling for a licensee other than issuer or underwriter at commission not exceeding 2%. 3 Must be authorized to do business as Trust Company in State. 4 Applies to own securities only. 5 Applies to own stock only. 6 When not engaged in dealing in securities. Trustees One, in Trust Capacity Created by Law, Lawfully Disposing of Property in Trust. California Indiana Iowa Ohio Underwriter Who Pays Not Less Than 90% of Price at Which Securities Are Sold Ohio |