KY HB807

Amends KRS 292.420 to make technical language updates, replacing outdated terms like "such" with "the" and "and/or" with "or" throughout Kentucky's securities chapter

Persons claiming an exemption from securities regulations bear the burden of proving entitlement to that exemption

Commissioner may require securities sellers to file exemption claim statements and can suspend or cancel registration of broker-dealers, agents, or investment advisers who refuse to provide required information

Interested parties seeking a ruling on a proposed securities exemption must submit a verified statement of material facts with a $250 filing fee

Commissioner's orders on exemption determinations are binding unless appealed, provided the actual transaction conforms to the facts in the verified statement