Small Corporate Offering Registration (SCOR)
One of the most significant innovations of recent times in the securities industry is the creation of a simplified registration form for small businesses. This is known as the Small Corporate Offering Registration form ("SCOR" or the Uniform Form 7) which has been adopted or recognized and accepted in 47 states, including Nevada. The principal innovation of this form is its question and answer format that permit a business person to fill in the blanks, file it with a state securities administrator and, upon approval, use it as a disclosure document in a public offering.
SCOR's straightforward format, if completed properly, will aid the small business person in developing a thorough business plan that is essential to the success of any enterprise. The added benefit of this form is a clear and concise statement of required disclosures in a very readable format for prospective investors.
The SCOR program was developed by the North American Securities Administrators Association (NASAA) in cooperation with the Securities and Exchange Commission (SEC) and American Bar Association. It contemplates an exemption from federal registration by virtue of Rule 504 of Regulation D. Up to $1 million of securities registered under state securities law may then be sold every twelve months to the public by approved advertising or other means of general solicitation, and there is no time restriction on the resale of the securities. This form will generally be used in connection with a "Registration by Qualification" under NRS 90.490.
The materials covered are available by calling the Securities Division (1-800-758-6440) and are intended to provide the reader with basic information relating to an offering submitted under the SCOR program (Small Corporate Offerings Registration) pursuant to a registration by qualification. However, this information should not be used as a substitute for a careful reading of the applicable federal and state securities laws before commencing any securities offering.
Download the SCOR packet (PDF). To request an informational packet in a printed copy form please submit a check payable to the Secretary of State in the amount of $3.00 and mail to Secretary of State, Securities Division, 555 E. Washington, Suite 5200, Las Vegas, NV 89101.