Ryan_Fitts_LS311-04_Unit 9_Case_Analysis

Ryan_Fitts_LS311-04_Unit 9_Case_Analysis - 1 Case Analysis...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Unit 9 Case Analysis By: Ryan Fitts LS311-04 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Langley Brothers, Inc would like to sell stocks worth $1 million dollars to the public. Joseph Langley and his brother Harry disagree whether they need to register with the Securities and Exchange Commission. Joseph Langley believes that they do not have to register with the SEC. He is correct as long as the offering is restricted to residence of Kansas. The following is the requirement for the intrastate exemption: “Section 3(a)(11) of the Securities Act is generally known as the "intrastate offering exemption." This exemption facilitates the financing of local business operations. To qualify for the intrastate offering exemption, your company must: be incorporated in the state where it is offering the securities; carry out a significant amount of its business in that state; and
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/26/2011 for the course BUS L 311 taught by Professor Markskipper during the Spring '11 term at Kaplan University.

Page1 / 3

Ryan_Fitts_LS311-04_Unit 9_Case_Analysis - 1 Case Analysis...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online