STATE OF ARKANSAS
|IN THE MATTER OF||ORDER EXTENDING|
|FTN ASSOCIATES, LTD||ORDER NO. 98-060-S|
FINDINGS OF FACT
By letter dated December 22, 1997FTN Associates, Ltd. submitted a proof of exemption filing for an offering of certain securities pursuant to Ark. Code Ann. Section 23-42-503(a)(8) of the Arkansas Securities Act (the "Act").
All documents, information and fees required to complete said proof of exemption filing were submitted and the effective date of the exemption was December 23,1997.
FTN Associates, Ltd. has requested that the period of exemption be extended for a period of five years from the date of effectiveness.
CONCLUSIONS OF LAW
Section 23-42-503(d)(4) of the Act provides that the Commissioner may by order extend the period of effectiveness of an exemption filing for a time not to exceed five years.
All documents, information and fees necessary to claim an exemption pursuant to Section 23-42-503(a)(4) of the Act were filed with the Department, and it appears that no public interest would be served by requiring FTN Associates, Ltd. to make the same exemption filing each year provided no change in the offering is made, and such repeated filing is not necessary for the protection of investors.
IT IS THEREFORE ORDERED that the period of effectiveness for the proof of exemption filed by FTN Associates, Ltd. is hereby extended for a period of five years from December 23, 1997.
WITNESS MY HAND AND SEAL this _______ day of November, 1998.