A. An open-end company or a unit investment trust shall file a notice in order to offer for sale or sell an indefinite amount of securities with the commission.

Terms Used In Arizona Laws 44-3322

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Issuer: means any person who issues or proposes to issue any security, except:

    (a) With respect to certificates of deposit, voting-trust certificates, collateral-trust certificates, certificates of interest or shares in an unincorporated investment trust, whether or not of the fixed, restricted management or unit type, issuer means the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which such securities are issued. See Arizona Laws 44-1801

  • offer for sale: means an attempt or offer to dispose of, or solicitation of an order or offer to buy, a security or interest in a security for value or any sale or offer for sale of a warrant or right to subscribe to another security of the same issuer or of another issuer. See Arizona Laws 44-1801
  • Open-end company: means a management company that is offering for sale or has outstanding any redeemable security of which it is the issuer. See Arizona Laws 44-3101
  • SEC: means the United States securities and exchange commission. See Arizona Laws 44-1801
  • sell: means a sale or any other disposition of a security or interest in a security for value and includes a contract to make such sale or disposition. See Arizona Laws 44-1801
  • Unit investment trust: means an investment company that is organized under a trust indenture, contract of custodianship or agency or similar instrument, that does not have a board of directors and that issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities, but does not include a voting trust. See Arizona Laws 44-3101

B. The initial notice filing of an open-end company is effective from the later of receipt by the commission or the effective date with the SEC until two months after the end of the issuer‘s current fiscal year. After that period, the notice filing may be renewed by filing the following with the commission no later than the expiration date of the current notice period:

1. The appropriate documents required by chapter 12 of this title and by the commission, by rule or otherwise.

2. The sales report described in section 44-3323.

3. The notice filing fees required by section 44-3324, subsection B.

C. On timely completion of the renewal notice filing for an open-end company, the renewal is automatically effective from the end of the expiring notice period until two months after the end of the issuer’s current fiscal year.

D. The initial notice filing of a unit investment trust is effective for one year from the effective date of the registration with the SEC, regardless of when the notice filing was received in this state. After that period, the notice filing may be renewed by filing the following with the commission no later than the expiration of the current notice period:

1. The appropriate documents required by chapter 12 of this title and by the commission, by rule or otherwise.

2. The notice filing fees required by section 44-3324, subsection E, paragraph 1.

E. On timely completion of the renewal notice filing for unit investment trusts, the renewal is automatically effective for one year from the end of the expiring notice period.

F. The commission may adopt rules with respect to notice filings for investment companies other than open-end companies or unit investment trusts.

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