| | 2. A rule adopted under this Act may be subject to judicial | review in accordance with the state administrative procedure act. |
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| | 3. In those states in which judicial review of rules is | permitted, a state may choose to add Section 609(b). In those | states in which judicial review of rules is not permitted, | Section 609(b) should be deleted. |
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| | 1.__Sales and offers to sell.__The following sections do not | apply to a person that sells or offers to sell a security unless | the offer to sell or the sale is made in this State or the offer | to purchase or the purchase is made and accepted in this State: |
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| C.__Section 16401, subsection 1; |
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| D.__Section 16402, subsection 1; |
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| E.__Section 16403, subsection 1; |
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| F.__Section 16404, subsection 1; |
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| | 2.__Purchases and offers to purchase. The following sections | do not apply to a person that purchases or offers to purchase a | security unless the offer to purchase or the purchase is made in | this State or the offer to sell or the sale is made and accepted | in this State: |
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| A.__Section 16401, subsection 1; |
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| B.__Section 16402, subsection 1; |
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| C.__Section 16403, subsection 1; |
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| D.__Section 16404, subsection 1; |
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