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10 Pa. Code § 302.051. Agent registration: bona fide officers, directors and employes.

§ 302.051. Agent registration: bona fide officers, directors and employes.

 Whether a person may be deemed a bona fide officer, director, partner or employe of an issuer, or other individual occupying similar status or performing similar functions is dependent upon the particular facts and circumstances, including by way of illustration:

   (1)  The duties of the person in addition to those connected with the sale of the issuer’s securities.

   (2)  The arrangements regarding the person’s compensation.

   (3)  The parties’ intentions as to the persons employment prior and subsequent to the securities offering.


   The provisions of this §  302.051 adopted March 29, 1974, effective March 30, 1974, 4 Pa.B. 582; transferred and renumbered from 64 Pa. Code §  302.051, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533. Immediately preceding text appears at serial page (317619).

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