18 NCAC 06A .2024          NOTICE TO ADMINISTRATOR minimum OFFERING amount REACHED, FUNDS RELEASED FROM The ESCROW Account, AND TERMINATION OF ESCROW AGREEMENT

(a)  An escrow agent shall file a written notice to the Administrator within 10 days:

(1)           after reaching the minimum offering amount; and

(2)           after the termination of the escrow agreement.

(b)  An issuer shall file a written notice to the Administrator within 10 days:

(1)           after reaching the minimum offering amount;

(2)           after the initial release of funds from the escrow account; and

(3)           after the termination of the escrow agreement.

 

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.