Section 710IAC4-6-1. Maximum commissions

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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.

(Securities Division; 710 IAC 4-6-1; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR-710100044FRA; readopted filed May 12, 2016, 1:47 p.m.: 20160608-IR-710160136RFA)

                    
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