2. Section 16202(14): The model Uniform Security Act's version of this provision used a higher "de minimis" number of purchasers (25). Maine has instead used a lower number of purchasers (10) to provide more protection for investors and because the lower number is more consistent with the relatively small size of this State.

3. Section 16202(15): Maine has added this limited private offering exemption for Maine issuers, up to 25 purchasers, which is based on section 10502(2)(Q) of the Revised Maine Securities Act.

4. Section 16202(21)(A) and (C): Maine has limited the availability of this exemption to offers or sales of securities in an employees' stock purchase or similar plan to only those consultants and advisors who are permitted to participate in such a plan under SEC Rule 701(c)(1).

5. Section 16202(24): Maine has reinstated the exemption for viatical settlement contracts similar to that which appeared in the Revised Maine Securities Act.

6. Section 16202(26): Maine has added this exemption for nonpublic offerings made under Section 4(2) of the federal Securities Act of 1933 to maintain the exemption contained in section 10502(2)(R) of the predecessor act.

§16203.__Additional exemptions and waivers

If the administrator finds that it is consistent with the public interest and the protection of investors, a rule adopted or order issued under this chapter may: exempt a security, transaction or offer; exempt a class of securities, transactions or offers from any or all of the requirements of sections 16301 to 16306 and 16504; and waive, in whole or in part, any or all of the conditions for an exemption or offer under sections 16201 and 16202.__In any rule or order establishing an exemption for which a filing is required, the administrator may provide for a nonrefundable filing fee not to exceed $500. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

Official Comments

Prior Provision: RUSA Section 403.