The proposed bill, if enacted, would amend the definition of "offer to sell" or "offer for sale" in Arizona's securities law. Currently, the definition includes an attempt or offer to dispose of a security or interest in a security, but the bill would clarify that an offer occurs only when acceptance and payment would complete the sale. This change aims to provide a more precise understanding of when an offer is considered valid in the context of securities transactions.

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 fall under the purview of fraudulent practices, thereby enhancing consumer protection in securities dealings. The amendments would update sections 44-1801 and 44-1991 of the Arizona Revised Statutes to reflect these changes.

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