b'Intrastate Securities Exemptions Rule147(Section3(a)(11) oftheSecuritiesAct)givesstatessole jurisdiction and enforcement authority over securities offerings if all of the investors and the issuer are residents of a single state. These exemptions are called intrastate exemptions. Call us even if you are thinking of doing an intrastate offering, as we may be able to offer you some guidance. Intrastate exemptions typically include a requirement that 80% of the property or revenue is derived from activities within the state. Under Rule 147, each state has developed its own set of rules for its intrastate securities exemptions, commonly known as Blue Sky rules. Including a description of the intrastate securities exemptions for each state is beyond the scope of this book, but a table comparing the federal rules to the Intrastate rules for California and Florida is provided in our Book Bonus page at: https://RaiseCapitalForRealEstate.com/BookBonus These exemptions provide examples of the rules typical of intrastate exemptions.A summary of the rules typical of an intrastate offering are provided below:The issuer and investors are all residents of a single state; 80% of property or revenue is in the same state; The issuer must comply with state Blue Sky laws; No federal filing or reporting required. 47'