18 NCAC 06A .2021          ADMINISTRATOR'S REJECTION OF ESCROW AGREEMENT

The Administrator may reject the issuer's escrow agreement if the Administrator determines that:

(1)           the escrow agreement does not comply with the rules of this Section;

(2)           one or more of the factors listed in Rule .2020 of this Section make the escrow agreement unnecessarily risky for the issuer or the investor;

(3)           the escrow agent is unsuitable to manage the escrow account; or

(4)           the escrow agreement includes terms that could cause the issuer to lose its exemption.

 

History Note:        Authority G.S. 78A-17.1(a)(5); 78A-17.1(f); 78A-49(a); 78A-49(d); 78A-64; S.L. 2016-103, s.4.(a);

Eff. April 1, 2017.