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SECTION 352-G

Exemptions

General Business (GBS) CHAPTER 20, ARTICLE 23-A

§ 352-g. Exemptions. The attorney general, upon application, may
exempt from the provisions of sections three hundred fifty-two-e, three
hundred fifty-two-f and three hundred fifty-two-h any offerings of
securities (1) made to persons not exceeding forty in number or (2)
which securities have been fully registered with the securities and
exchange commission of the United States of America or have received an
exemption therefrom for reasons other than said offering is an
intrastate offering to residents of the state of New York only.