Replies to post #59150 on RCC Holdings Corp fka RCCH

[johnnyfiber]

I'm not a lawyer, but at best it's a slippery slope for the CEO to allow those securities to end up in the public's hands. JMHO

Select “Rule 504(b)(1) (not (i), (ii) or (iii))”only if the Issuer is relying on the exemption in the introductory sentence of Rule 504 for offers and sales that satisfy all the terms and conditions of Rules 501 and 502(a), (c) and (d)


Rule 502 (c) and (d)

d. Limitations on resale. Except as provided in Rule 504(b)(1), securities acquired in a transaction under Regulation D shall have the status of securities acquired in a transaction under section 4(2) of the Act and cannot be resold without registration under the Act or an exemption therefrom. The issuer shall exercise reasonable care to assure that the purchasers of the securities are not underwriters within the meaning of section 2(a)(11) of the Act, which reasonable care may be demonstrated by the following:



section 4(2)

Section 4 -- Exempted Transactions

2. transactions by an issuer not involving any public offering.