Which of the following is $\underline{\text{not}}$ required for the intrastate exemption?
A)The investors and issuer must all be residents of the same state.
B)Of the issuer's income, 100 percent must be earned in its resident state.
C)Of the issuer's assets, 80 percent must be located in its resident state.
D)Of the proceeds from the sale, 80 percent must be earned on operations in the state.
E)All of the above are requirements.

Question

Quizplus · Accepted Answer

The intrastate exemption does not require that 100 percent of the issuer's income be earned in its resident state. Rather, it requires that the bulk of the issuer's business (at least 80 percent) be conducted within its resident state. A, C, and D are all requirements of the intrastate exemption.

Which of the Following Is not‾\underline{\text{not}}not​ Required for the Intrastate Exemption? A)The Investors and Issuer Must

Which of the Following Is $\underline{\text{not}}$ Required for the Intrastate Exemption?
A)The Investors and Issuer Must