| | This chapter modifies, limits and supersedes the federal | Electronic Signatures in Global and National Commerce Act, but | does not modify, limit or supersede Section 101(c) of that Act, | 15 United States Code, Section 7001(c) or authorize electronic | delivery of any of the notices described in Section 103(b) of | that Act, 15 United States Code, Section 7003(b). This chapter | authorizes the filing of records and signatures, when specified | by provisions of this chapter or by a rule adopted or order | issued under this chapter, in a manner consistent with Section | 104(a) of that Act, 15 United States Code, Section 7004(a).__ | Rules adopted under this section are routine technical rules as | defined in Title 5, chapter 375, subchapter 2-A. |
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| | No Prior Provision. The purpose of this Section is to permit | the filing of electronic signatures and electronic records. |
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| EXEMPTIONS FROM REGISTRATION OF SECURITIES |
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| | Section 201 includes exempt securities and Section 202 | includes exempt transactions. Both exempt securities and exempt | transactions are exempt from the securities registration, notice | filing requirement of Section 302, and the filing of sales | literature Section 504 of this Act. Neither Section 201 nor | Section 202 provides an exemption from the Act's antifraud | provisions in Article 5, nor the broker-dealer, agent, investment | adviser, or investment adviser registration requirements in | Article 4. |
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| | A Section 201 exempt security retains its exemption when | initially issued and in subsequent trading. |
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| | A Section 202 transaction exemption must be established for | each transaction. |
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| | Neither the exempt security nor the transaction exemptions are | meant to be mutually exclusive. A security or transaction may | qualify for two or more exemptions. |
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| | Article 2 is not available to any security, transaction, or | offer that, although in technical compliance with a specific | section in Article 2, is part of an unlawful plan or scheme to | evade the registration provisions of Article 3. In such cases |
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