Intrastate offerings are exempt, so long as the company has 80% of revenue, assets and proceeds are in-state, and 100% of the investors. Investors must hold securities for at least 6 months before selling them out-of-state. If they are resold out of state, they must either be registered in that state or sold under an exemption.

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1. Intrastate offerings are exempt, so long as the company has 80% of revenue, assets and proceeds are in-state, and 100% of the investors. Investors must hold securities for at least 6 months before selling them out-of-state. If they are resold out of state, they must either be registered in that state or sold under an exemption.