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ULOR / SCOR LICENSING AND REGISTRATION In May 1990, Arizona passed a law that makes it easier for small businesses to raise start-up and growth financing by selling stock or debt to the public. Arizona Uniform Limited Offering Registration (A.R.S. § 44-1902 and R14-4-134) allows corporations to raise up to $5 million in any twelve month period through the sales of stock and/or debt to the public in Arizona. [The Securities and Exchange Commission exemption for this type of offering is currently limited to $1,000,000.] Issuers engaging in these types of offerings generally rely upon Regulation D, Rule 504, on the federal level. Corporations that qualify to use ULOR in Arizona as their financing vehicle register with the Division. Information regarding ULOR/SCOR offerings is available in the ULOR/SCOR Packet. Arizona participates in the Western Regional Review Program. This program provides a uniform state registration procedure designed to coordinate the blue-sky registration process in all states in the Region in which the issuer seeks to sell. Eleven (11) western states currently participate in this program. Information regarding this program is available in the ULOR/SCOR Packet. ULOR/SCOR Packet includes all associated forms and instructions in one .zip file.
Forms: Cover Letter, Issuer Dealer Instructions, Form U-7, ULOR Affidavit, Non-NASD Affidavit, Form U-1, Form U-2, Form U-2a
Links: Washington State Review, Western Region Review, R14-4-140, R14-4-134, ARS 44-1902 Registration Packet - Contains Form U-1; Form U-2 and Form U-2A Raising Capital Overview (ULOR Offerings section)
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