Section 26-B229. DESCRIPTION OF PROPERTY

 

229.1The issuer shall state briefly the location and general character of the principal plants, mines, and other materially important physical properties of the issuer and its significant subsidiaries. If any such property is not held in fee or is held subject to any major encumbrance, so state and briefly describe how it is held.

 

229.2The issuer shall provide a description which should be limited to information essential to an investor's appraisal of the securities being registered. In the case of a manufacturing enterprise, for example, the answer should be limited to such over-all statements as will reasonably inform investors as to the suitability, adequacy, and productive capacity of the facilities used in the enterprise. In the case of an extractive enterprise, appropriate information should be given as to production and reserves. Detailed descriptions of the physical characteristics of individual properties, or legal descriptions by metes and bounds, are not required and should not be given.

 

source

Amended by Emergency Rulemaking published at 47 DCR 9910 (December 15, 2000) [EXPIRED]; as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 3952 (May 4, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 9177 (October 5, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 10879 (November 30, 2001).