ORIGINAL HOUSE

BILL NO. 0313

ENROLLED ACT NO. 82, HOUSE OF REPRESENTATIVES

FIFTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING

2001 GENERAL SESSION

AN ACT relating to the registration of securities;
exempting cooperative membership securities from
registration and literature filing requirements as
specified; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.  W.S. 17-4-114(a) by creating a new
paragraph (xii) is amended to read:

17-4-114. Exemptions from registration and literature
filing requirements.

(a) The following securities are exempted from W.S.
17-4-107 and 17-4-115:

(xii) Any security of any cooperative
incorporated or organized under law of this or another
state and qualified with the secretary of state to do
business in this state, subject to the following:

(A) No commission or other remuneration is
paid or given directly or indirectly for soliciting any
prospective buyer in this state; and

(B) The security is necessary or incidental
to establishing membership in the cooperative association;
and

(C) The security is nontransferable; or

(D) The administrator is notified in
writing at least thirty (30) days before the security is
offered for sale. Notice under this subparagraph shall
contain the form of disclosure or prospectus and other

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sales literature to be used in the security offering
together with financial statements in a form required by
the administrator.

Section 2.  This act is effective July 1, 2001.

(END)

Speaker of the House President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

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