AN ACT relating to securities.

SB 275 amends Kentucky's securities law (KRS 292.420) to clarify existing rules about exemptions from registration requirements. It directly affects securities sellers, brokers, and investment advisers who rely on exemptions. The bill updates procedures by clarifying that the burden of proving an exemption rests with the seller, streamlining the commissioner's authority to request exemption statements, and specifying the process for obtaining formal exemption rulings. These changes are technical corrections to improve clarity and consistency in how exemptions are claimed and reviewed, without creating new exemptions or altering substantive requirements.