Governor John Bel Edwards has signed House Bill 233 by Representative Jean-Paul Coussan into law, as Act 74 of the 2018 Regular Legislative Session. The Act becomes effective on January 1, 2019. Upon the effective date, the Act requires issuers of securities under Securities and Exchange Commission Regulation Crowdfunding to make a notice filing with the Commissioner under either of the following two circumstances:

  • The issuer’s place of business is in Louisiana.
  • At least half of the dollar amount of securities sold in a Regulation Crowdfunding offering are to residents of Louisiana.

Filings are effective for twelve months and must be renewed in order for the issuer to continue to make sales. There is a $150 filing fee for the initial notice and any renewal notices.