710 IAC 4-6-1 - Maximum commissions
Authority: IC 23-19-6-5
Affected: IC 23-19-3-6
Sec. 1.
Commissions allowable to broker-dealers and underwriters must in every instance be reasonable and justified and in no case shall exceed twelve and one-half percent (12 1/2%) of the offering price of the security. The following will be considered as commissions for the purpose of this section:
(1) Options, warrants, and
other transactions or conversion rights reserved or granted in connection with
the sale of securities.
(2) Payment
of the underwriter's expenses incident to the offering, including advertising,
traveling, and promotional expenses.
(3) Any other thing of value accruing to the
broker-dealer or underwriter.
Notes
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