§ 830-X-4-.19. Price Escalation
The price of equity securities after the first offering by the issuer under an order or registration must be justified by:
(a) Market Value;
(b) Book Value, using tangible items only; or
(c) Capitalization of average annual profits covering a period of at least two (2) years without the use of non-recurring items.
Author:(Filed September 30, 1982. Readopted: Filed November 9, 1983.)
Statutory Authority: Code of Ala. 1975, § 8-6-23.
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