MO HB1736

Creates a new intrastate securities offering exemption for Missouri-formed businesses registered with the secretary of state, exempting them from certain securities registration requirements if federal intrastate offering rules are followed.

Limits total capital raised under this exemption to $1 million (less any amounts raised in the prior 12 months), with individual non-accredited investors capped at $1,000 per purchaser.

Requires issuers to deposit all investor funds in Missouri-authorized banks and use funds only as represented to investors, and prohibits paying commissions to unregistered brokers or agents.

Mandates written notice to the state administrator before general solicitation or the 25th sale (whichever comes first), including names and addresses of the issuer, all sales participants, and the depository institution.

Requires issuers to disclose that securities are unregistered and cannot be resold without registration or exemption, and make additional disclosures required by SEC Rule 147.