§ 32.32.280. Offers and sales of securities -- Prohibitions
No offer to sell securities of an applicant pursuant to a plan of conversion may be made prior to approval by the director of the application for conversion. No sale of these securities in the subscription offering may be made except by means of the final offering circular for the subscription offering. No sale of unsubscribed securities may be made except by means of the final offering circular for the public offering or direct community marketing. The offering of shares in the direct community marketing may commence during the subscription offering upon the declaration of effectiveness by the director of the offering circular proposed for the community offering. This section shall not apply to preliminary negotiations or agreements between an applicant and any underwriter or among underwriters who are to be in privity of contract with the applicant.
[1994 c 92 § 375; 1981 c 85 § 55.]
Sections: Previous 32.32.245 32.32.250 32.32.255 32.32.260 32.32.265 32.32.270 32.32.275 32.32.280 32.32.285 32.32.290 32.32.295 32.32.300 32.32.305 32.32.310 32.32.315 NextLast modified: April 7, 2009