New York Exemptions.

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    §  352-g.  Exemptions.  The  attorney  general,  upon application, may
  exempt from the provisions of sections three hundred fifty-two-e,  three
  hundred  fifty-two-f  and  three  hundred  fifty-two-h  any offerings of
  securities (1) made to persons not exceeding  forty  in  number  or  (2)
  which  securities  have  been  fully  registered with the securities and
  exchange commission of the United States of America or have received  an
  exemption   therefrom  for  reasons  other  than  said  offering  is  an
  intrastate offering to residents of the state of New York only.