[§485-24.5]  Prospectus; small corporate offerings registration form.  (a)  The prospectus required for registration by qualification under section 485-10(b)(3) may be satisfied by the Small Corporate Offerings Registration Form (Form U-7) adopted by the North American Securities Administrators Association; provided that all of the qualifications in the instructions for use of the form are fulfilled.

     (b)  The commissioner shall adopt rules pursuant to chapter 91 to implement this section. [L 1999, c 214, pt of §2]