Micro Offering Safe Harbor Act

Summary

Micro Offering Safe Harbor Act This bill amends the Securities Act of 1933 to exempt from specified prohibitions against the sale or delivery after sale of unregistered securities, among other things, transactions involving the sale of securities by an issuer of micro-offerings that meet one or more of the following criteria: each purchaser has a substantive pre-existing relationship with either an officer or director of the issuer, or with a shareholder holding 10% or more of the issuer's shares; during the 12-month period preceding the transaction there are no more than 35 purchasers of such micro-offerings sold in reliance on this exemption; and the aggregate amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000. The bill also exempts such micro-offerings from state regulation of securities offerings.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 6 September 2016

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• Reported in House (PDF)

  Reported in House · EN · 6 September 2016

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• Reported to House with amendment(s)

  summary · EN · 6 September 2016

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• Introduced in House (text)

  Introduced in House · EN · 23 March 2016

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• Introduced in House (PDF)

  Introduced in House · EN · 23 March 2016

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• Introduced in House

  summary · EN · 23 March 2016

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