Maine Revised Statutes Title 20-A Sec. 11482 – Exemption from registration
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Terms Used In Maine Revised Statutes Title 20-A Sec. 11482
- Authority: means the Finance Authority of Maine, which serves as administrator of the Maine Education Savings Program. See Maine Revised Statutes Title 20-A Sec. 11471
- Participation agreement: means an agreement between a participant and the authority providing for the establishment by the participant of one or more accounts within the program fund and for the administration of those accounts for the benefit of the participant and of one or more beneficiaries. See Maine Revised Statutes Title 20-A Sec. 11471
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
A participation agreement offered pursuant to this chapter is not a security as defined in Title 32, section 16102, subsection 28. The authority may obtain written advice of legal counsel or written advice from the United States Securities and Exchange Commission, or both, that the offering of a participation agreement is not subject to federal securities laws but is in compliance with those laws and is not in violation of other applicable laws. [PL 2005, c. 65, Pt. C, §9 (AMD).]
SECTION HISTORY
PL 1997, c. 732, §4 (NEW). PL 2005, c. 65, §C9 (AMD).