The teacher returned and resumed droning. "The three key elements in registering securities revolve around the manner and form in which the filings take place, i.e. how many inches thick is your paperwork? The key word here is registration. The general rule is that all companies must register their securities with the Securities and Exchange Commission (SEC) and with the state regulators in states where they want to sell the securities. However, there are exceptions to the general rule....
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