Wisconsin Legislature: DFI-Sec 3.06(2)

DFI-Sec 3.03(4)(b)(b) The North American Securities Administrators Association Statement of Policy Regarding Options and Warrants, as adopted effective October 24, 1992.

DFI-Sec 3.03(4)(c)(c) The North American Securities Administrators Association Statement of Policy on Promotional Shares, adopted September 3, 1987.

DFI-Sec 3.03(4)(d)(d) The North American Securities Administrators Association Statement of Policy Regarding Unequal Voting Rights, as adopted October 24, 1991.

DFI-Sec 3.03(4)(e)(e) The North American Securities Administrators Association Statement of Policy regarding real estate programs, adopted April 15, 1980, as amended through August 27, 1990, including comments.

DFI-Sec 3.03(4)(f)(f) The North American Securities Administrators Association Guidelines for the Registration of Oil and Gas Programs, adopted September 22, 1976, as amended through April 27, 1984.

DFI-Sec 3.03(4)(g)(g) The North American Securities Administrators Association Guidelines for the Registration of Publicly Offered Cattle Feeding Programs, adopted September 17, 1980.

DFI-Sec 3.03(4)(h)(h) The North American Securities Administrators Association Statement of Policy Regarding Church Bonds, adopted April 14, 2002.

DFI-Sec 3.03(4)(i)(i) The North American Securities Administrators Association Health Care Facility Statement of Policy, adopted April 5, 1985.

DFI-Sec 3.03(4)(j)(j) The Central Securities Administrators Council Statement of Policy on Finance Company Debt Securities, adopted August 12, 1976.

DFI-Sec 3.03(4)(k)(k) The North American Securities Administrators Association Statement of Policy Regarding Affiliated Transactions, as adopted effective September 14, 1989, and amended effective October 24, 1991.

DFI-Sec 3.03(4)(L)(L) The North American Securities Administrators Association Statement of Policy on Real Estate Investment Trusts, as adopted April 28, 1981, and amended through September 29, 1993.

DFI-Sec 3.03(4)(m)(m) The North American Securities Administrators Association Statement of Policy on Registration of Commodity Pool Programs, adopted September 21, 1983, as amended effective August 30, 1990.

DFI-Sec 3.03(4)(n)(n) The North American Securities Administrators Association Statement of Policy for Equipment Programs, adopted September 21, 1983, as amended April 22, 1988.

DFI-Sec 3.03(4)(o)(o) The North American Securities Administrators Association Mortgage Program Guidelines, adopted September 10, 1996.

DFI-Sec 3.03(4)(p)(p) The North American Securities Administrators Association Omnibus Guidelines, adopted March 29, 1992.

DFI-Sec 3.03(4)(q)(q) The North American Securities Administrators Association Guidelines For General Obligation Financing by Religious Denominations, adopted April 17, 1994.

DFI-Sec 3.03 NoteNote: All of the NASAA Guidelines are published in CCH NASAA Reports published by Commerce Clearing House and are on file at the offices of the Wisconsin secretary of state and the legislative reference bureau.

DFI-Sec 3.03(5)(5) Unless otherwise permitted by the division, the body of the prospectus and all notes to financial statements and other tabular data included therein shall be in roman or gothic type at least as large and as legible as 10-point modern type, except that financial statements and other tabular data, including tabular data in notes, may be in roman or gothic type at least as large and as legible as 8-point modern type. All such type shall be leaded at least 2 points.

DFI-Sec 3.03(6)(6) At the end of each period of not more than one year from the effectiveness of the registration statement, or in the event of any material change relating to the issuer or the securities subsequent to the filing of a prospectus, an amended prospectus shall be filed reflecting any such changes, and a current disclosure of all material facts relating to the issuer and the securities, including financial statements. No further solicitations or sales of the securities may be made thereafter until such amended prospectus has been filed with the division.

DFI-Sec 3.03 HistoryHistory: Cr. Register, December, 1969, No. 168, eff. 1-1-70; renum. from. DFI-SEC 2.06, r. and recr. (1), r. (2), renum. (3) and (4) to be (2) and (3), renum. (2) (e) to (h) to be (2) (f) to (i), cr. (2) (e) and (4), Register, December, 1977, No. 264, eff. 1-1-78; am. (1) (a) to (d) and (5) (3), Register, December, 1980, No. 300, eff. 1-1-81; am. (3), Register, December, 1985, No. 360, eff. 1-1-86; am. (2) (g) and (3), renum. (2) (i) to be (2) (j), cr. (2) (i), Register, December, 1989, No. 408, eff. 1-1-90; r. (2) (h), renum. (2) (i) and (j) to be (2) (h) and (i) and am. (2) (h), Register, December, 1990, No. 420, eff. 1-1-91; am. (2) (h), Register, December, 1992, No. 444, eff. 1-1-93; am. (2) (h), (3), Register, December, 1994, No. 468, eff. 1-1-95; am. (3), Register, May, 1995, No. 473, eff. 6-1-95; am. (3), Register, December, 1995, No. 480, eff. 1-1-96; renum. from SEC 3.23, renum. (4) and (5) to be (5) and (6), am. (3), cr. (4), Register, December, 1996, No. 492, eff. 1-1-97; correction in (1) made under s. 13.93 (2m) (b) 7., Stats., Register, March, 1997, No. 495; am. (3), Register, December, 1998, No. 516, eff. 1-1-99; am. (3), Register, December, 1999, No. 528, eff. 1-1-00; am. (3), Register, December 2000, No. 540, eff. 1-1-01; CR 02-102: am. (4) (h), cr. (4) (o) to (q), Register December 2002 No. 564, eff. 1-1-03; CR 08-077: am. (2) (h) (intro.) Register December 2008 No. 636, eff. 1-1-09; CR 09-056: am. (1) (intro.) Register December 2009 No. 648, eff. 1-1-10.

DFI-Sec 3.04DFI-Sec 3.04 Trust indenture requirements. Trust indentures required under ch. 551, Stats., and chs. DFI-Sec 1 to 9, shall meet the requirements of the trust indenture act of 1939, whether or not exempt under that act, unless the division otherwise permits or requires.

DFI-Sec 3.04 HistoryHistory: Cr. Register, December, 1969, No. 168, eff. 1-1-70; cr. (3), Register, August, 1972. No. 200, eff. 9-1-72; renum. from SEC 2.07, am. (1) and r. (2) and (3), Register, December, 1977, No. 264, eff. 1-1-78; renum. from SEC 3.24, Register, December, 1996, No. 492, eff. 1-1-97.

DFI-Sec 3.05DFI-Sec 3.05 Registration proceedings.

DFI-Sec 3.05(1)(1) If any information is reasonably required by the division prior to the effective date of a registration statement filed under s. 551.303 or 551.304, Stats., in connection with the examination of such registration statement, the registration statement is deemed filed when the information so required is filed with the division.

DFI-Sec 3.05(2)(2) Any registration statement which a registrant fails to complete or withdraw within one year from the date of filing shall be deemed materially incomplete under s. 551.306 (1) (a), Stats., and the division may issue a stop order denying effectiveness to such registration statement.

DFI-Sec 3.05(3)(3) The division may institute a proceeding under s. 551.306, Stats., and may issue a stop order suspending or revoking the effectiveness of any registration statement filed under s. 551.303 or 551.304, Stats., at any time during the period that the registration statement is effective and within one year thereafter.

DFI-Sec 3.05 HistoryHistory: Cr. Register, December, 1969, No. 168, eff. 1-1-70; r. and recr. Register, August, 1972, No. 200, eff. 9-1-72; renum. from SEC 2.11 and SEC 3.09, Register, December, 1977, No. 264, eff. 1-1-78; renum. from SEC 3.25, Register, December, 1996, No. 492, eff. 1-1-97; CR 08-077: am. Register December 2008 No. 636, eff. 1-1-09.

DFI-Sec 3.06DFI-Sec 3.06 Amendment of registration statements.

DFI-Sec 3.06(1)(1) All applications for amendment of a registration statement shall be filed in the form prescribed by the division.

DFI-Sec 3.06(2)(2) A registration statement relating to securities issued by a finance company registered under s. 138.09, Stats., may be amended after its effective date so as to increase the specified amount of securities proposed to be offered in this state.

DFI-Sec 3.06 HistoryHistory: Cr. Register, December, 1969, No. 168, eff. 1-1-70; renum. from SEC 2.10, am. (2), Register, December, 1977, No. 264, eff. 1-1-78; am. (2), Register, September, 1978, No. 273, eff. 10-1-78; am. (1), Register, December, 1979, No. 288, eff. 1-1-80; renum. from SEC 3.26, Register, December, 1996, No. 492, eff. 1-1-97; CR 08-077: am. (2) Register December 2008 No. 636, eff. 1-1-09.

DFI-Sec 3.07DFI-Sec 3.07 Extension of registration statements.

DFI-Sec 3.07(1)(1) Application for an extension of the offering period of a registration statement, except one relating to securities of a finance company registered under s. 138.09, Stats., shall be filed in the form prescribed by the division not less than 30 days prior to the end of one year from the effective date of the registration statement or an extended period of effectiveness for the registration statement, whichever is most recent. The application shall be accompanied by a prospectus updated in accordance with s. DFI-Sec 3.03 (6), a balance sheet of the issuer as of the end of its most recent fiscal year, and a comparative statement of income and changes in financial position and analysis of surplus for each of the 3 most recent fiscal years (or for the period of the issuer’s and any predecessor’s existence if less than 3 years), all meeting the requirements of s. DFI-Sec 7.06, provided that if the date of any of the above financial statements is more than 120 days (180 days with respect to a corporation organized and operated not for private profit but exclusively for religious, educational, benevolent or charitable purposes) prior to the date of the extension of the registration statement, the statements shall be updated (which may be done without audit) to within the 120-day or 180-day requirement above. If no order specifying a different effectiveness period is in effect, renewal of the registration statement becomes effective on the day on which the prior registration statement expires or at such earlier time as the division determines.

DFI-Sec 3.07(2)(2) A registration statement relating to securities of a finance company registered [licensed] under s. 138.09, Stats., is deemed to include an application for the continuous offering of the securities. The offering period of the registration statement is automatically extended until it is permitted to be withdrawn or the division issues a stop order suspending or revoking its effectiveness pursuant to s. 551.306, Stats., if the issuer files with the division not less than annually during the offering period, within 120 days of the end of its fiscal year, a prospectus updated in accordance with s. DFI-Sec 3.03 (6), a balance sheet of the issuer as of the end of the fiscal year, and a statement of income and change in financial position and analysis of surplus of the issuer for the fiscal year meeting the requirements of s. DFI-Sec 7.06.

DFI-Sec 3.07 NoteNote: The correct word is shown in brackets.

DFI-Sec 3.08DFI-Sec 3.08 Periodic reports. Each issuer or registrant of securities registered under s. 551.304, Stats., shall file with the division such additional reports of sales and financial statements as may be specified by order, and shall furnish the division with written notice within 30 days after the happening of any material event affecting the issuer or the securities registered.

DFI-Sec 3.08 HistoryHistory: Cr. Register, December, 1969, No. 168, eff. 1-1-70; am. (2), Register, October, 1974, No. 226, eff. 11-1-74; renum. from Sec 2.09, and am. (1) and (2), Register, December, 1977, No. 264, eff. 1-1-78; emerg. renum. (2) and (3) to be (3) and (4), cr. (2) and am. (3), eff. 6-19-78; renum. (2) and (3) to be (3) and (4) and am. (3), cr. (2), Register, September, 1978, No. 273, eff. 10-1-78; am. (1), Register, December, 1979, No. 288, eff. 1-1-80; am. (1), Register, December, 1981, No. 312, eff. 1-1-82; r. (1), renum. (2), (3) and (4) to be (1), (2) and (3), Register, December, 1983, No. 336, eff. 1-1-84; am. (1), Register, December, 1984, No. 348, eff. 7-1-85; r. (1), renum. (2) and (3) to be (1) and (2), Register, December, 1988, No. 396, eff. 1-1-89; renum. from SEC 3.28, r. (1), renum. (2), Register, December, 1996, No. 492, eff. 1-1-97; CR 08-077: am. Register December 2008 No. 636, eff. 1-1-09.