Idaho State Statutes - Idaho Attorney Directory

(a) Required filing of records. With respect to
a federal covered security, as defined in section 18(b)(2) of the securities
act of 1933 (15 U.S.C. 77r(b)(2)), that is not otherwise exempt under sections
30-14-201 through 30-14-203, Idaho Code, a rule adopted or an order issued
under this chapter may require the filing of any or all of the following
records:
(1) Before the initial offer of a federal covered security in this state,
all records that are part of a federal registration statement filed with
the securities and exchange commission under the securities act of 1933
and a consent to service of process complying with section 30-14-611
signed by the issuer and the payment of a fee of three hundred dollars
($300) for mutual funds and one hundred dollars ($100) for unit investment
trusts;
(2) After the initial offer of the federal covered security in this
state, all records that are part of an amendment to a federal registration
statement filed with the securities and exchange commission under the
securities act of 1933; and
(3) To the extent necessary or appropriate to compute fees, a report of
the value of the federal covered securities sold or offered to persons
present in this state, if the sales data are not included in records filed
with the securities and exchange commission; and
(4) Each series or portfolio of an investment company offering shall be
required to make a separate notice filing. Separate notice filings for
classes of an investment company are not required so long as classes are
used solely as a method of distinguishing payment plans within a series or
portfolio.
(b) Notice filing effectiveness and renewal. A notice filing under
subsection (a) of this section is effective for one (1) year commencing on the
later of the notice filing or the effectiveness of the offering filed with the
securities and exchange commission. On or before expiration, the issuer may
renew a notice filing by filing a copy of those records filed by the issuer
with the securities and exchange commission that are required by rule or order
under this chapter to be filed and by paying a renewal fee of three hundred
dollars ($300) for mutual funds and one hundred dollars ($100) for unit
investment trusts. A previously filed consent to service of process complying
with section 30-14-611, Idaho Code, may be incorporated by reference in a
renewal. A renewed notice filing becomes effective upon the expiration of the
filing being renewed.
(c) Notice filings for federal covered securities under section
18(b)(4)(d). With respect to a security that is a federal covered security
under section 18(b)(4)(d) of the securities act of 1933 (15 U.S.C.
77r(b)(4)(d)), a rule or order under this chapter may require a notice filing
by or on behalf of an issuer to include a copy of form D, including the
appendix, as promulgated by the securities and exchange commission, and a
consent to service of process complying with section 30-14-611, Idaho Code,
signed by the issuer not later than fifteen (15) days after the first sale of
the federal covered security in this state and the payment of a fee of fifty
dollars ($50.00); and the payment of a fee of fifty dollars ($50.00) for any
late filing.
(d) Stop orders. Except with respect to a federal security under section
18(b)(1) of the securities act of 1933 (15 U.S.C. 77r(b)(1)), if the
administrator finds that there is a failure to comply with a notice or fee
requirement of this section, the administrator may issue a stop order
suspending the offer and sale of a federal covered security in this state. If
the deficiency is corrected, the stop order is void as of the time of its
issuance and no penalty may be imposed by the administrator.

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