May 3, 2012
Pottawatomie County corporations considering securities act exemption to raise funds
WAMEGO, KAN. - Kansas Securities Commissioner Aaron Jack attended a meeting at the Columbian Theatre in Wamego speaking to the Pottawatomie County Economic Develepment Corporation, where he presented IKE. IKE, formally known as Invest Kansas Exemption, helps Kansas businesses raise up to $1 million from investors without going through the expensive and time-consuming process for registering securities with the Office of the Securities Commissioner. IKE was adopted in Kan. Admin. Reg. 81-5-21 and has been in effect since August 2011.
Invest Kansas exemption is a new outlook on business in Kansas and is here to help raise capital in our state. IKE has helped to simplify many of the regualtory hurdles for small businesses headquartered in Kansas. The exemption is unique and innovative in comparison with other exemptions under the Kansas Uniform Securities Act and similar laws in other states.
According to Commissioner Jack, the new exemption is intended to help small businesses survive and grow, especially in rural areas. “When a small community wants to establish a new local business, such as a grocery store or movie theater, or save a popular local business that is in financial distress, it often results in a public appeal for investors,” said Jack. “In this difficult economy it is imperative that we do everything we can to make it easier for these hard working, entreprenurial Kansans to start a business, or expand an existing business. With that goal we have established a method to safely allow these types of offerings under limited circumstances, even though they involve the public solicitation of investors.”
Companies that are interested in utilizing IKE should contact The Office of the Kansas Securities Commissioner for further information and guidance at (785) 296-3307.
The Office of the Kansas Securities Commissioner is responsible for registration and regulation of securities offerings and those working in the securities industry, investor education, investigation of illegal securities activities, and prosecution of securities-related crimes. For more information about the Office of the Kansas Securities Commissioner, go to www.ksc.ks.gov or visit our Facebook page
Whitney WhitsonDirector of Public InformationOffice of the Kansas Securities Commissioner Phone: firstname.lastname@example.org