§32-5-501. Short Title

This article shall be known as the West Virginia Small Business Capital Act.

§32-5-502. Offer or Sale of Small Business Securities

Notwithstanding any other provision of law to the contrary, certain offerings are exempt from the securities registration requirements of articles two and three of this chapter if the offer, sale, issuer and purchaser meet the requirements of this article.

§32-5-503. Qualifications of Issuer and Purchaser

(a) In order to qualify for exemption under this article, the issuer must be a for-profit entity organized under the laws of West Virginia with its principal place of business in West Virginia. (b) In order to qualify for the exemption under this article, the purchaser must be a resident of West Virginia or be […]

§32-5-504. Qualifications of Offers, Sales and Transactions

(a) The transaction must meet the requirements of the federal exemption for intrastate offerings in section 3(a)(11) of the Securities Act of 1933, 15 U.S.C. section 77c(a)(11) and SEC rule 147, 17 CFR 230.147. (b) The sum of all cash and other consideration received from the issue of securities under this exemption may not exceed […]

§32-5-505. West Virginia Crowdfunding Portal Requirements

(a) The offering must be made exclusively through an internet-based crowdfunding portal that is incorporated or organized under the laws of West Virginia and authorized to do business in West Virginia and registered with the commissioner. (b) The crowdfunding portal must contain a conspicuous disclaimer that reflects that access to securities offerings on the website […]