N.Y. General Business Law § 352-g: Exemptions

§ 352-g. Exemptions. The attorney general, upon application, may

exempt from the provisions of sections three hundred fifty-two-e, three

hundred fifty-two-f and three hundred fifty-two-h any offerings of

securities (1) made to persons not exceeding forty in number or (2)

which securities have been fully registered with the securities and

exchange commission of the United States of America or have received an

exemption therefrom for reasons other than said offering is an

intrastate offering to residents of the state of New York only.