Washington Administrative Code (Last Updated: November 23, 2016) |
Title 460. Financial Institutions, Department of (Securities Division) |
Chapter 460-42A. Exempt securities. |
Section 460-42A-030. Exemption of securities pursuant to RCW 21.20.310(1).
Latest version.
- Any security which would otherwise be exempt from registration under RCW 21.20.310(1) except that it is payable from a nongovernmental industrial or commercial enterprise shall be exempt from registration if it meets the requirements of either subsection (1) or (2) of this section:(1) The security receives a rating of "AA" or better from Standard and Poor's Corporation or an equivalent rating from Moody's Investors Service, Inc.; or(2)(a) The security is issued to fund a single-family mortgage loan program established and operated by a state housing finance agency; and(b) The security receives a rating of at least "A+" from Standard and Poor's Corporation or an equivalent rating from Moody's Investors Service, Inc.