Effective June 18, 1991, issuers of securities pursuant to Securities and Exchange Commission Rule 415 relating to shelf registrations who desire to register those securities by qualification in Arizona are required  to file a single Form U-1 with the Division at the time of filing the initial application with the SEC. Upon completion of the Division’s examination of the filing and resolution of issues raised, and upon SEC effectiveness, an Order of Effectiveness will be issued by the Division. The registration will remain effective for one year from the date of effectiveness and may be renewed upon timely application by the issuer.

  The Division’s former policy requiring the separate registration of each “takedown” from the “shelf” is hereby rescinded.

[Policy Statement, Arizona Corporation Commission, Securities Division, 8-22-91.]