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Unformatted text preview: corporate reorganization in which one security is traded for another and 8) securities issued in stock dividends and stock splits (Miller & Jentz. 8 th Ed., 2008. p. 568). The stock that is being sold in this case does not meet any of the criteria. The one criteria that this stock does meet is the intrastate offerings Rule 147. Rule 147 states that intrastate transactions involving purely local offerings are exempt transactions (Miller & Jentz. 8 th Ed., 2008. p. 571). As long as Langley Brothers Inc. offers stock only in the state of Kansas then they are exempt from registering their securities with the Securities and Exchange Commission. Jason is right in this case as long as Langley Brothers Inc. follows the laws that are set in the state of Kansas. Unit 9 Case Analysis 3 References Miller, Roger LeRoy, & Jentz, Gaylord A. (2008). Fundamentals of Business Law Part I . Ohio: Cengage Learning....
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- Spring '11