If this bill were to become law, it would amend the definition of "offer to sell" or "offer for sale" in the Arizona Revised Statutes. The current definition, which describes an offer as an attempt to dispose of or solicit an order for a security, would be updated to specify that an offer occurs only when acceptance and payment would complete the sale. This change aims to clarify the conditions under which an offer is considered valid.

Additionally, the bill would expand the scope of fraudulent practices related to securities transactions by including "contemplated offers" in the definition of unlawful actions. This means that not only actual offers but also those that are anticipated or planned would be subject to scrutiny under the law. The amendments aim to enhance regulatory oversight and consumer protection in the securities market.

Statutes affected:
Introduced Version: 44-1801
House Engrossed Version: 44-1801, 44-1991, 33-741, 20-1104, 44-1844, 44-7061