(a)  Requests for interpretative opinions and "no‑action" letters shall be directed to the administrator and shall contain the following:

(1)           specific facts surrounding the proposed transaction in letter form with the identity of the persons involved;

(2)           the statutory and/or rule citation upon which the request is based;

(3)           statement of the applicant's requested interpretation supported by appropriate reasoning or justification and applicable case law or administrative opinions or decisions;

(4)           any other relevant information or exhibits that the applicant desires the administrator to consider; and

(5)           a fee in the amount of one hundred fifty dollars ($150.00).

(b)  An interpretative opinion or "no‑action" letter shall not be considered an absolute exemption or exception from a definition.  The burden of proving an exemption or exception from a definition shall remain upon the person claiming it should the necessity of proof arise.

(c)  The administrator may, in his discretion, honor or deny requests for interpretative opinions or "no‑action" letters.


History Note:        Authority G.S. 78A‑18(b); 78A‑49(a); 78A‑50(e);

Eff. April 1, 1981;

Amended Eff. October 1, 1988; January 1, 1984;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 6, 2016.