Any security offered or sold to a permanent resident of the single state where the issuer of the security resides and does business is exempt under the 1933 act.

Question

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This statement refers to the intrastate offering exemption, which allows securities to be offered and sold exclusively to residents of the state where the issuer is resident and does business, without needing to register the offering with the SEC under the 1933 Securities Act.

Any Security Offered or Sold to a Permanent Resident of the Single