18 NCAC 06A .2104         LPO LIMITATIONS

(a)  An issuer conducting an LPO shall set a target offering amount that is not greater than two hundred fifty thousand dollars ($250,000).

(b)  An issuer conducting an LPO shall set a minimum offering amount that shall be no less than 25 percent of the target offering amount set by the issuer.

(c)  An issuer may conduct more than one LPO provided that the aggregate amount raised shall not exceed two hundred fifty thousand dollars ($250,000) in the 12 months from the date of the Administrator's notice of compliance pursuant to Rule .2015 of this Subchapter.

(d)  An issuer shall not be eligible to file a securities offering pursuant to Section .2000 of this Subchapter until six-months after the conclusion of its prior LPO.

History Note:        Authority G.S. 78A-17.1(a)(5); 78A-17.1(f); 78A-49(a); 78A-49(d); 78A-64; S.L. 2016-103, s.4.(a);

Eff. April 1, 2017 to expire on April 1, 2026.