A corporation whose security does not qualify for an exemption can dispense with the requirement of a registration statement.

Name: A corporation whose security does not qualify for an exemption can dispense with the requirement of a registration statement.
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A corporation whose security does not qualify for an exemption cannot dispense with the requirement of a registration statement. All securities sold to the public must be registered unless they qualify for a specific exemption.

A Corporation Whose Security Does Not Qualify for an Exemption