Florida Administrative Code (Last Updated: March 13, 2024) |
69. Department of Financial Services |
69W. Securities |
69W-700. Registration Of Securities |
Effective on Monday, September 22, 2014
1In offerings where the issuer is in a development stage, the ratio of equity investment by promoters or insiders to the aggregate public offering shall be no less than:
30(1) Ten percent (10%) of the first $1,000,000 of the aggregate public offering; and
46(2) Seven percent (7%) of the next $500,000 of the aggregate public offering; and
61(3) Five percent (5%) of the next $500,000 of the aggregate public offering; and
76(4) Two and one-half percent (21/2%) of the balance over $2,000,000.
89Rulemaking Authority 91517.03(1) FS. 93Law Implemented 95517.081(3), 96(7) FS. History–(Formerly 3E-20.03) New 9-20-82, Formerly 3E-700.05, Amended 10-26-97, Formerly 3E-700.005, Amended 5-15-07, 9-22-14.