Idaho State Statutes - Idaho Attorney Directory

(a) Who may file. A
registration statement may be filed by the issuer, a person on whose behalf
the offering is to be made, or a broker-dealer registered under this chapter.
(b) Filing fee. A person filing a registration statement shall pay a
filing fee of three hundred dollars ($300). If a registration statement is
withdrawn before the effective date or a pre-effective stop order is issued
under section 30-14-306, Idaho Code, the administrator shall retain the fee.
(c) Status of offering. A registration statement filed under section
30-14-303 or 30-14-304, Idaho Code, must specify:
(1) The amount of securities to be offered in this state;
(2) The states in which a registration statement or similar record in
connection with the offering has been or is to be filed; and
(3) Any adverse order, judgment or decree issued in connection with the
offering by a state securities regulator, the securities and exchange
commission, or a court.
(d) Incorporation by reference. A record filed under this chapter or the
predecessor act within five (5) years preceding the filing of a registration
statement may be incorporated by reference in the registration statement to
the extent that the record is currently accurate.
(e) Nonissuer distribution. In the case of a nonissuer distribution,
information or a record may not be required under subsection (i) of this
section or section 30-14-304, Idaho Code, unless it is known to the person
filing the registration statement or to the person on whose behalf the
distribution is to be made or unless it can be furnished by those persons
without unreasonable effort or expense.
(f) Escrow and impoundment. A rule adopted or an order issued under this
chapter may require as a condition of registration that a security issued
within the previous five (5) years or to be issued to a promoter for a
consideration substantially less than the public offering price or to a
person for a consideration other than cash be deposited in escrow; and that
the proceeds from the sale of the registered security in this state be
impounded until the issuer receives a specified amount from the sale of the
security either in this state or elsewhere. The conditions of any escrow or
impoundment required under this subsection may be established by a rule
adopted or an order issued under this chapter, provided however that the
administrator may not reject a depository institution solely because of its
location in another state.
(g) Form of subscription. A rule adopted or an order issued under this
chapter may require as a condition of registration that a security registered
under this chapter be sold only on a specified form of subscription or sale
contract and that a signed or conformed copy of each contract be filed under
this chapter or preserved for a period specified by the rule or order, which
may not be longer than five (5) years.
(h) Effective period. Except while a stop order is in effect under
section 30-14-306, Idaho Code, a registration statement is effective for one
(1) year after its effective date, or for any longer period designated in an
order under this chapter during which the security is being offered or
distributed in a nonexempted transaction by or for the account of the issuer
or other person on whose behalf the offering is being made or by an
underwriter or broker-dealer that is still offering part of an unsold
allotment or subscription taken as a participant in the distribution. A
registration statement remains effective for each additional year by filing a
renewal as prescribed by a rule adopted or an order issued under this chapter.
For the purposes of a nonissuer transaction, all outstanding securities of the
same class identified in the registration statement as a security registered
under this chapter are considered to be registered while the registration
statement is effective. If any securities of the same class are outstanding, a
registration statement may not be withdrawn until one (1) year after its
effective date. A registration statement may be withdrawn only with the
approval of the administrator.
(i) Periodic reports. While a registration statement is effective, a rule
adopted or an order issued under this chapter may require the person that
filed the registration statement to file reports, not more often than
quarterly, to keep the information or other record in the registration
statement reasonably current and to disclose the progress of the offering.
(j) Posteffective amendments. A registration statement shall be amended
after its effective date if there are material changes in information or
documents in the registration statement. The posteffective amendment becomes
effective when the administrator so orders.

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