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Registration of Securities
Before any offers or sales of securities are made to Kansas investors, it is necessary to carefully consider the registration or exemption alternatives under the Kansas Uniform Securities Act (KUSA). It is also necessary to consider provisions of federal securities laws and regulations that are administered and enforced by the U.S. Securities and Exchange Commission (SEC).

Before Public Offering
If an issuer of securities in Kansas does not qualify for any of the exemptions under KUSA sections K.S.A. 17-12a201 through K.S.A. 17-12a203 and if the securities to be offered are not federal covered securities as defined under K.S.A. 17-12a102(7), then the securities must be registered with the Office of the Kansas Securities Commissioner (KSC) before a public offering can be conducted in Kansas. The most typical exemptions to consider are outlined on the Common Exemptions webpage.

Note: This website information does not constitute an exhaustive description of all aspects of legal and accounting requirements for conducting a securities offering in compliance with the KUSA and regulations. Officers and promoters of issuers should consult with securities counsel and independent accountants for more extensive analysis of regulatory requirements under both state and federal securities laws.

It is recommended that persons planning a securities offering in Kansas should contact KSC staff to discuss registration requirements or exemption alternatives. For more information view the Consultation with Staff webpage.

Additional Information