Section 356-A:3 Exemptions.
I. Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of this chapter shall not apply to any offer or disposition of:
(a) Subdivided lands if not more than 15 lots, parcels, units or interests are included in such subdivided lands; provided, however, this exemption shall not apply to subdivided lands involving time share interests;
(b) Subdivided lands pursuant to court order;
(c) Subdivided lands by any government or government agency;
(d) Subdivided lands if all lots, parcels, units and interests are restricted to commercial, industrial or other non-residential use;
(e) Cemetery lots;
(f) Securities or units of interest issued by a real estate investment trust regulated under any state or federal statute;
(g) Securities registered with the insurance commissioner of this state; and
(h) Any interest in oil, gas or other minerals or any royalty interest therein, if the offer or disposition of such interests are regulated as securities by any federal agency or by the insurance commissioner of this state.
II. The attorney general may from time to time, in accordance with rules adopted by it pursuant to RSA 541-A, exempt from any of the provisions of this chapter any subdivision or any lots, parcels, units or interests in a subdivision if it finds that the enforcement of all of the provisions of this chapter with respect to such subdivision or lots, parcels, units or interests is not necessary in the public interest and for the protection of purchasers by reason of the small amount involved or the limited character of the offering, or because such property, in the discretion of the attorney general, is otherwise adequately regulated by federal, state, county, municipal, or town statutes or ordinances, or because such property has been registered and approved pursuant to the laws of any other state. Applications for exemption shall be filed in a form prescribed by the attorney general and shall be accompanied by an application fee of $200.
Source. 1970, 55:1. 1971, 474:1. 1977, 469:5. 1979, 289:1. 1983, 469:79. 1985, 300:7, I(b).