Personal Property And Securities Act In Virginia
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The requirements are extensive, and include descriptions of the issuer's business, past performance, information about the issuer's officers and managers, audited financial statements, information on executive compensation, risks of the business, tax and legal issues, and the terms of the securities issued.
It requires every offer or sale of securities that uses the means and instrumentalities of interstate commerce to be registered with the SEC pursuant to the 1933 Act, unless an exemption from registration exists under the law.
(15) “Person” means an individual, a corporation, a limited liability company, a partnership, a limited partnership, a limited liability partnership, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government or a ...
The Securities Act of 1933 was the first federal law to regulate the securities industry. It requires companies that sell stocks or bonds to the public to disclose certain information, such as their assets, financial health, executives, and a description of the security being sold.
What are Virginia's Blue Sky Laws? Virginia's Blue Sky Laws are a critical component of the state's regulatory framework, designed to protect investors and maintain the integrity of the securities market.
What is considered individual personal property? Virginia State Code Section § 58.1-3503 defines personal property as automobiles, trucks, manufactured homes, motorcycles, recreational vehicles, boats, trailers, and aircraft.
The SEC mandates that all public companies file regular 10-Ks to keep investors aware of a company's financial condition and to allow them to have enough information before they buy or sell securities issued by that company.
The Securities Act effectuates disclosure through a mandatory registration process in any sale of any securities. In reality, due to a number of exemptions (for trading on the secondary market and small offerings), the Act is mainly applied to primary market offerings by issuers.
The Personal Property Tax Relief Act of 1998 provides tax relief for any passenger car, motorcycle, or pickup or panel truck having a registered gross weight of less than 7,501 pounds. The vehicle must be owned or leased by an individual and not used for business purposes.
Personal-use property is not purchased with the primary intent of making a profit, nor do you use it for business or rental purposes.