448.4-107. Original sale certificate, condominium securities. — If an interest in a condominium is currently registered with the Securities and Exchange Commission of the United States, a declarant satisfies all requirements relating to the preparation of an original sale certificate of sections 448.1-101 to 448.4-120 if he delivers to the purchaser a copy of the original sale certificate filed with the Securities and Exchange Commission. An interest in a condominium is not a security under the provisions of the laws of this state.
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(L. 1983 H.B. 177)
---- end of effective 28 Aug 1983 ----
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