Coordination & Qualification
Coordination
Any security which has been filed under the Federal Securities Act of 1933 or for filings under section 3(b) or 3(c) of that federal law may be registered by coordination. To register by coordination, the following must be submitted:
- A completed Uniform Application to Register Securities. (U1)
- A fee of 1/50th of 1 percent of the amount being registered. The minimum fee shall be $200 and the maximum fee shall not exceed $600.
- A Uniform Consent to Service of Process. (U2)
- A Uniform Resolution to Issue Securities. (U2a)
No registration statement or other offering related documents are required to be filed. The offering may be approved for sale, pending Securities Exchange Commission (SEC) effectiveness, without being reviewed by the Secretary of State.
The above forms can be found on the North American Securities Administrators Association website.
Qualification
Registration by qualification is available for any security which is exempt from federal securities registration, or which does not otherwise file and receive an effective status with the SEC. To register by qualification, the following must be submitted:
- The Uniform Application to Register Securities. (U1)
- The Uniform Consent to Service of Process. (U2)
- The Uniform Resolution to Issue Securities. (U2a)
- A fee of 1/50th of 1 percent of the amount being registered. The minimum shall not be less than $200 nor shall it exceed $600.
- A registration statement.
- And other information as deemed relevant by the Secretary of State.
The above forms can be found on the North American Securities Administrators Association website.