To qualify as an intrastate offering under SEC Rule 147, which of the following is true of the issue?
A)it must be approved by the SEC
B)it must be sold only to bona fide residents of one state
C)it cannot exceed $1,500,000 in value
D)it must consist of common stock only

Question

Quizplus · Accepted Answer

it must be sold only to bona fide residents of one state. Under Rule 147 intrastate offerings are sold only to residents of one state and cannot be sold outside that state for nine months. All the other choices are incorrect about the rule.

To Qualify as an Intrastate Offering Under SEC Rule 147