Any investment contract that gives a party to the contract evidence of a debt or a business participation right can be a security covered by the Federal Securities Act of 1933. Certain stock issue transactions are also exempt (i.e., exempt from registration with the Securities and Exchange Commission).
The most common exempt transaction that close corporations take advantage of is the intrastate offering. To qualify for this exemption, both the investors and the issuer must all be residents of the same state. The issuer must also meet the following requirements:
" 80% of its assets must be located in the state;
" 80% of its income must be earned from operations within the state; and
" 80% of the proceeds from the sale must be used on operations within the state.
Also, for nine months after the issuance, the stock can only be sold to state residents.
If the offering is not exempt, then the issuer must go through the registration process with the Securities and Exchange Commission.
A promotion agreement template without a surveyor is a legal document that outlines the terms and conditions between a property developer and a landowner for the promotion and development of land without the involvement of a surveyor. This type of agreement aims to establish a clear understanding between the parties regarding the promotion of the land for potential development projects. The promotion agreement template without a surveyor typically includes the following key elements: 1. Parties Involved: This section identifies the parties entering into the agreement, namely the landowner (referred to as the promoter) and the property developer. 2. Background: This section provides a brief overview of the land that is intended to be promoted for development, including its location, size, and any other relevant details. 3. Objectives: This section outlines the main goals and objectives of the promotion agreement, such as maximizing the land's potential value, securing planning permissions, and attracting potential investors. 4. Promotion Services: This section describes the specific roles and responsibilities of both parties. It may include tasks such as conducting feasibility studies, preparing planning applications, negotiating with local authorities, marketing the land to potential buyers, and managing the overall promotion process. 5. Duration: This section specifies the duration of the agreement, including any renewal options or termination clauses. 6. Financial Terms: This section outlines the financial arrangements between the parties. It may include details regarding how the costs of promotion will be shared, the payment structure for the developer, and any provisions for profit-sharing or performance-based incentives. 7. Planning Permissions: This section addresses the process of obtaining planning permissions for the land. It may include provisions for the developer to engage and collaborate with relevant planning authorities, as well as the responsibilities for managing and covering the costs associated with the planning process. Some different types of promotion agreement templates without a surveyor include: 1. Land Promotion Agreement: This type of agreement focuses on the promotion and development of the land by the property developer without the need for a surveyor's involvement. 2. Joint Promotion Agreement: In this agreement, both the landowner and the developer collaborate to promote the land for potential development projects, sharing the costs, risks, and profits. 3. Option Promotion Agreement: This agreement grants the developer an option to promote and acquire the land within a specified timeframe. The developer will then be responsible for promoting and developing the land without a surveyor's involvement. 4. Conditional Promotion Agreement: This type of agreement is subject to certain conditions, such as the successful obtainment of planning permissions or the fulfillment of specific criteria. Once these conditions are met, the promotion and development of the land proceed without a surveyor's involvement. In conclusion, a promotion agreement template without a surveyor is a legally binding document that outlines the terms and conditions for promoting and developing land between a landowner and a property developer. It helps establish a clear understanding of the responsibilities, financial arrangements, and objectives related to the promotion process. Different types of promotion agreement templates without a surveyor include land promotion, joint promotion, option promotion, and conditional promotion agreements.
