04 NCAC 16G .0713. DISTRIBUTION OF OFFERING MATERIALS

Any preliminary offering circular which has been filed with the administrator may be distributed in connection with the offering at the same time as or after the proxy statement is mailed to members pursuant to Rule .0607 of this Subchapter.  No final offering circular shall be distributed until it has been declared effective by the administrator.  The declaration of the effectiveness of the final offering circular by the administrator shall not extend beyond the maximum time period specified for the completion of the sale of all the capital stock in Rule .0720 of this Section, or beyond such period of time the administrator shall establish upon a subsequent declaration of effectiveness in the event of the granting of an extension of time under Rule .0722 of this Section.

 

History Note:        Authority G.S. 54C‑33; 54C‑53;

Eff. February 15, 1992.