ARM 6.10.306

6.10.134 TRANSACTIONAL EXEMPTIONS FOR COOPERATIVE ARSOCIATIONS (1) A cooperative association organized under another state's laws that are substantially the same as the provisions of Title 35, chapter 15, MCA, is entitled to a transactional exemption from the registration requirements of the Montana Securities Act, provided that the association has furnished the commissioner with a general written description of the security to be offered or sold in Montana. For the purposes of 33-10-105, MCA, the commissioner has determined that the following states' laws authorizing the organization of the corresponding types of cooperative organizations are substantially the same as the provisions of Title 35, chapter 15, MCA: (a) Alabama Incorporated Marketing Associations (b) Alaska Cooperative Corporations (c) Arkansas Agricultural Cooperative Associations Marketing Associations (d) California Non-profit Cooperative Associations (e) Colorado Cooperative Associations Cooperative Marketing Associations (f) Connecticut Cooperative Marketing Associations (g) Florida Agricultural Cooperative Marketing Associations (h) Georgia Cooperative Marketing Associations (i) Hawaii Agricultural Cooperative Associations (j) Idaho Cooperative Marketing Associations (k) Illinois Co-operative Corporations (l) Indiana Agricultural Cooperatives (m) Iowa Co-operative Associations (n) Kansas Cooperative Associations (o) Kentucky Cooperative Corporations (p) Louisiana Agricultural Co-operative Associations (q) Maine Cooperative Associations (r) Massachusetts Cooperative Agricultural, Dairy or Mercantile Associations (s) Michigan Cooperative Associations (t) Minnesota Cooperatives (u) Mississippi Cooperative Marketing Associations Aquatic Products Marketing Associations (v) Missouri Cooperative Marketing Associations Commodity Associations (w) Nebraska Cooperative Companies (x) Nevada Cooperative Associations (y) New Jersey Agricultural Cooperatives (z) New Mexico Cooperative Associations (aa) New York Cooperative Corporations (ab) North Carolina Cooperative Associations (ac) North Dakota Cooperative Associations (ad) Oklahoma Cooperative Corporations Agricultural Marketing Associations (ae) Oregon Cooperative Corporations (af) Ohio Cooperative Corporations (ag) Pennsylvania Cooperative Corporations (ah) Rhode Island Producers' Cooperatives (ai) South Carolina Cooperative Associations (aj) South Dakota Cooperatives (ak) Tennessee Cooperative Marketing Associations (al) Texas Cooperative Corporations (am) Utah Co-operative Associations (an) Vermont Cooperative Associations (ao) Virginia Cooperative Associations Agricultural Cooperatives Associations (ap) Washington Cooperative Associations (aq) West Virginia Cooperative Associations (ar) Wisconsin Cooperative Associations Agricultural Associations (as) Wyoming Cooperative Marketing Associations (2) For the purposes of 30-10-105, MCA, a "general written description" must include: (a) citation of the state law under which the cooperative is organized; (b) the type of industry of business in which the cooperative is engaged; (c) a general description of the offering, including type of security, price, restrictions, if any, on security ownership, and the number of shares to be issued; (d) the purpose of the security offering; and (e) a list of states in which the offering will be conducted.