| | | This chapter modifies, limits and supersedes the federal | | Electronic Signatures in Global and National Commerce Act, but | | does not modify, limit or supersede Section 101(c) of that Act, | | 15 United States Code, Section 7001(c) or authorize electronic | | delivery of any of the notices described in Section 103(b) of | | that Act, 15 United States Code, Section 7003(b). This chapter | | authorizes the filing of records and signatures, when specified | | by provisions of this chapter or by a rule adopted or order | | issued under this chapter, in a manner consistent with Section | | 104(a) of that Act, 15 United States Code, Section 7004(a).__ | | Rules adopted under this section are routine technical rules as | | defined in Title 5, chapter 375, subchapter 2-A. |
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| | | No Prior Provision. The purpose of this Section is to permit | | the filing of electronic signatures and electronic records. |
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| | | EXEMPTIONS FROM REGISTRATION OF SECURITIES |
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| | | Section 201 includes exempt securities and Section 202 | | includes exempt transactions. Both exempt securities and exempt | | transactions are exempt from the securities registration, notice | | filing requirement of Section 302, and the filing of sales | | literature Section 504 of this Act. Neither Section 201 nor | | Section 202 provides an exemption from the Act's antifraud | | provisions in Article 5, nor the broker-dealer, agent, investment | | adviser, or investment adviser registration requirements in | | Article 4. |
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| | | A Section 201 exempt security retains its exemption when | | initially issued and in subsequent trading. |
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| | | A Section 202 transaction exemption must be established for | | each transaction. |
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| | | Neither the exempt security nor the transaction exemptions are | | meant to be mutually exclusive. A security or transaction may | | qualify for two or more exemptions. |
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| | | Article 2 is not available to any security, transaction, or | | offer that, although in technical compliance with a specific | | section in Article 2, is part of an unlawful plan or scheme to | | evade the registration provisions of Article 3. In such cases |
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