2016 Arizona Revised Statutes
Title 44 - Trade and Commerce
§ 44-1898 Registration in securities register of securities complying with requirements for registration by qualification; sale of registered securities authorized; delivery of prospectus to purchasers

44-1898. Registration in securities register of securities complying with requirements for registration by qualification; sale of registered securities authorized; delivery of prospectus to purchasers

A. Except as provided in section 44-1901, the director shall within a reasonable time examine an application for registration of securities by qualification and all documents and exhibits filed therewith. When an applicant has fully complied with the provisions of this article relating to registration by qualification, and the rules of the commission thereunder, the director shall register the securities in a register of securities, subject to the limitations and conditions imposed by the commission in accordance with this chapter, unless the commission finds cause for denial as provided in section 44-1901 or article 8 of this chapter.

B. The director shall, by mail, give notice to the issuer of the effective date of registration.

C. After such registration, the securities may be sold by any registered dealer or by any registered salesman employed by a registered dealer.

D. There shall be delivered to each purchaser of securities registered by qualification, before the conclusion of any contract of sale of such securities, a copy of the prospectus meeting the requirements of section 44-1894, 44-1896, 44-1899 or 44-1901 if the prospectus is used more than one year from the effective date of registration of the securities.