Division policy regarding reporting requirement of registered securities.

  All registered issuers are required to file an annual report of sales of securities within 60 days after the registration’s expiration date or termination of the offering, whichever occurs first. The report of sales may be submitted by letter or on Form USR or similar form. If Form USR is issued to report such sales, redemption should not be calculated into the ending balance.

  Letter from Corporation Commission to CCH, dated 4-22-85.