Are there any registration or exemption provisions in Maine law specifically tailored to the needs of small business?
Yes. The Small Company Offering Registration (SCOR) program allows for the public offering of securities of up to $1,000,000 without the need for registration with the Securities and Exchange Commission (SEC). In addition, there are many exemptions from state registration requirements which small businesses often utilize, such as private placements and other limited non-public offerings. Visit our Small Business Programs section for a summary of the statutory provisions that are particularly well suited to small businesses. A complete list of registration exemptions can be found under Subchapter 2 – 16201 and 16202 of the Maine Uniform Securities Act. Remember, however, that regardless of what provision of Maine law you utilize for the registration or exemption of your securities, you are still subject to the anti-fraud provisions of the securities laws which require that all disclosures to be accurate, complete, and not misleading.
