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WAC 460-42A-030

No agency filings affecting this section since 2003

Exemption of securities pursuant to RCW 21.20.310(1).

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.
[Statutory Authority: RCW 21.20.310(1) and 21.20.450. WSR 89-17-080 (Order SDO-128-89), ยง 460-42A-030, filed 8/17/89, effective 9/17/89.]