Offer of Refund Prior to Registration

PURPOSE: This rule requires, as a prerequisite to securities registration, that rescission be offered to all investors having a cause of action against the applicant or issuer. An offer of refund (rescission), pursuant to section 409.5-510, RSMo, to each person having a cause of action against the applicant or the issuer, within the meaning of section 409.5-509, RSMo, shall be a prerequisite to the registration of securities. A suggested form of offer of refund (rescission) is located at 15 CSR 30-52.260. AUTHORITY: sections 409.3-306, 409.5509, 409.5-510 and 409.6-605, RSMo Supp. 2003.* Original rule filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. Rescinded and readopted: Filed Aug. 30, 2002, effective Feb. 28, 2003. Emergency amendment filed Aug. 19, 2003, effective Sept. 12, 2003, expired March 9, 2004. Amended: Filed Aug. 22, 2003, effective Feb. 29, 2004. *Original authority: 409.3-306, RSMo 2003; 409.5-501, RSMo 2003; 409.5-510, RSMo 2003; 409.6-605, RSMo 2003.