Registration Of Debt Securities

In addition to the requirements contained in the NASAA Statement of Policy Regarding Debt Securities the issuer of debt securities will incorporate the following standards: (7-1-24) 01. Suitability. In establishing standards of fairness and equity, the Department has established the following investor suitability guidelines for debt offerings registered under the Act: (7-1-24) a. No more than ten percent (10%) of any one (1) Idaho investor’s net worth (exclusive of home, home furnishings, and automobiles) shall be invested in the securities being registered with the Department; and either (7-1-24) b. A gross income of forty-five thousand dollars ($45,000) and a net worth of forty-five thousand dollars ($45,000) (exclusive of home, home furnishings and automobiles); or (7-1-24) c. A net worth of one hundred fifty thousand dollars ($150,000) (exclusive of home, home furnishings and automobiles). (7-1-24) 02. Department May Establish Standards. The suitability standard in Subsection 037.01 of this rule IDAHO ADMINISTRATIVE CODE IDAPA 12.01.08 Idaho Department of Finance Rules Pursuant to the Uniform Securities Act (2004) Section 038 Page 8 is a guideline. Higher or lower suitability standards may be established or may be required by the Department as a condition of registration. (7-1-24) 03. Standards To Be Disclosed. The suitability standards must be disclosed in the prospectus. (7-1-24)