SB 317 – Exempts securities issued by agricultural cooperative corporations from state security registration requirements

• Sponsor: Stouffer
• LR Number: 1590S.01I
• Committee: Financial and Governmental Organizations and Elections
• Last Action: 2/24/2011 - Second Read and Referred S Financial and Governmental Organizations and Elections Committee
• Journal Page: S333
• Effective Date: August 28, 2011

Current Bill Summary

SB 317 - This act exempts securities issued by agricultural cooperative corporations from security registration requirements, provided that the Commissioner of Securities is notified within 30 days of the sale of the securities. The notification must include the prospectus or other sales literature to be used and financial statements. The act defines what is considered to be an agricultural cooperative corporation for purposes of the exemption.

ERIKA JAQUES