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Show l!IS HEADY FOR N SECURITIES FIRMS )V:- i '.engihy Copies of Rules I Under Blue Sky Law v Being Printed." ;ommission Is Kept Busy i With Requests for Application Ap-plication Certificates. '' The state securities commission, rough its secretary, Gordon Snow, hits '0 ready prepared the application blanks seessary ror companies lo use if they iiah, in accordance with tho terms of e state's new blue sky law, to sell .eir stocks. These applications have len in heavy demand for tho past two Jvs and the secretary of the new cora-"Hsslon cora-"Hsslon has found his time during of-hours of-hours almost entirely taken up with .iswerfng questions and discussing con-". con-". itlons with prospective applicants. 1 'jin addition, the commission is having :.-in ted lengthy copies of its rules and filiations, which will be ready for dis--ibution today or tomorrow. These jles are along 'the lines laid down in 7 ne law, but the conditions therein stated ;-.rc amplified in considerable detail in 'V ie rules, the purpose being to make t intent of the law clearer and to set-v set-v e doubtful points that inay arise. t or Investment Companies. ' Form A-l is the application blank for j investment company, as defined in SV 'e act. It is required to give its name, . Vissification, business address, resident dress (if an individual), date and place r: " ; organization, the .law under which it ' ; is organized, a statement of whether it 1 V; authorized to do business in Utah; a jjy of its charter, with all amendments, !'. "d of its by-laws; the nature of its v ;siness and the length of -time it has engaged in it; location of its prln- ' sal and branch offices; list of all offi- v.?J h-s, directors, trustees, owners of capi-J-tW stock; list of all partners or members; 1 ift of securities it is proposed to offer r sale under the application, giving the ta! authorized, the amount proposed to offered in Utah, the amount offered in - .(lier states and securities prior thereto ;-,,.' interest or lien authorized or issued: a ! ' ' py of the proposed securities; the pHn ' der which they are to be sold; the1 ice for which they are to be sohl, and 3er details; the amount of the agent's mmission, direct or indirf'Ct; what nrof-V nrof-V pain or advantage in any way adver- ' ted or promised to induce the sale of ,s '.V;1 e stock; copies of prospectus or adver-ling adver-ling matter to be used in connection V.th the marketing; names of agents In :S'" ';.ih, and evidence of the good character the agents; statement showing the , nsldcration received for stock or bonds itstanding to date and a lot of other .O-estions. And, on top of all that, the "-plicant Is required to describe exactly d in detail nature of proposition or siness to which securities which - it is oposed to promote or sell pertain, ;?r.::-iere such business is located, where i property or properties are located, -l- in (in detail) on which business or ;l; : terprise, referring to maker or issuer t. "- - securities, Is or is to be conducted, I'-. ins, contracts, etc., made with view to ; tual operation. If not already operat-g: operat-g: results of operation, if already op-, op-, D. t,atlng (output, product sold, etc., as i rL.ie case may be), and use to be made ED ' rtCee3 1 sae 6UCh securities. ther Requirements. rx.:i-0n top of all this, the applicant Invest-jrent Invest-jrent company is required to file a copy a resolution of its board of directors :on thorizing the execution of consent to ei-.i:1 rvice, under the Utah law, ; which '.or r:'::1"68 ne commissioner of securities of ah (the secretary of state) the process torney of the company in Utah. p-;:'-:';Y similar consent to service is re--ev-:i ired of all dealers, who also have nu-hj. nu-hj. . '3rous and searching questions to an-e an-e t:': er, but not so many as the investment snipany. Agents handling securities io are licensed by the commission and i required to give answers to several estions, including data relative to oc-pations oc-pations engaged in and to criminal )secutions, if any, as well as a number references. All these various appllca-ris appllca-ris are to be verified under oath. )ne of the rules of the commission re-Ireg re-Ireg that, if any reference is made in ) advertising matter to the fact that i commission has aprnved an applica-n, applica-n, the company or dealer must add mediately after such statement, in ters two sizes larger, a statement to effect that the commission does not arantee the securities so advertised. arm Is Defined. fust what an Investment company- is tnus defined In the regulations: An investment comoany includes ev- Q f person, firm, foreign or domestic J Toration, which is engaged in the siness in the state of Utah of selling y 'securities,' as hereinafter defined, ifn such securities are issued by said son, firm or corporation, or when said ninties are possessed by any stock-der, stock-der, other person, firm, or corporation, ' Promotion, or as part of the plan of niotion, or for anv good will, mining, : or gas Droperty, options, formulas, pat- i -y tH covering invention, or intangible lets, any of which have been conveved til .1 ctmT'any as part of Its capital." Securities, as used above, includes, Hons of these rules, hereunder, stock, flC !',,rrp(l and common; bonds, whether :i:red or unsecured; investment con--eta: contracts or bonds for the sale a conveyance of land on deferred pay-W. pay-W. "'fs or Installment plan; certificates of rtlclpation, or other Instruments in the ture thereof. entailing obligations, tee, whether secured or unsecured, un-exempted un-exempted under tho law:" |