AR SB220

Increases the maximum securities offering limit under the intrastate exemption from $1 million to $10 million, with the lookback period changed from 6 months after completion to 12 months before the first offer

Raises the per-investor cap for non-accredited investors from $5,000 to $100,000, and allows family members at the same residence to be treated as a single purchaser

Requires issuers to file a proof of exemption with the Securities Commissioner at least 10 days before selling securities, including issuer information, bank details, and offering documents with a $100 filing fee

Updates federal securities law reference dates from January 1, 2017 to January 1, 2025, and broadens eligible issuers to include any for-profit business entity formed under Arkansas law

Adds new restrictions excluding investment companies, publicly reporting companies, and blind pool entities from using the exemption, while preserving antifraud provisions