SIE Exam Practice Question 465

Question: 465

A corporation in your state wants to sell 1,000,000 shares of stock at $5 per share to investors. Which of the following is NOT true under Rule 147?

A. 80% of proceeds must be used in the state.

B. 80% of corporate assets must be located in the state.

C. 80% of the purchasers must be in the state.

D. 80% of the income must be derived from activity within the state.