EFFECTIVENESS

005 EFFECTIVENESS. A notice of exemption filed pursuant to Section 8-1111(15) of the Act remains in effect until the earliest of the following occurrences: 005.01 The amount of securities stated in the notice submitted to the Director is sold; 005.02 Until the issue is discontinued by resolution of the Board of Directors of the cooperative or limited cooperative association; or 005.03 Three years from the date of the initial filing of the notice under this Rule.