Sec. 80.12. Advertising

(a) No issuer of securities may advertise in a publication, on radio or television, by personal contact orally or in writing except by the use of an “authorized advertisement”. An authorized advertisement is one which is consistent with any required prospectus and otherwise meets all of the requirements of subdivisions (b) and (c) hereof, except where specifically waived by the Department of Law, pursuant to statute.

(b) All written advertisements must contain a statement in easily readable print (followed by the identification number supplied by the Department of Law) that the securities are “Offered by prospectus only to residents of New York State. NY # ”

(c) All advertisements must be consistent with the prospectus, and not contain information not in the prospectus or amendments thereto and be submitted to in copy form and accepted by the Department of Law 48 hours prior to the first use thereof.

(d) Copies of actual advertisements shall be submitted to the Department of Law within five days after each publication, except that where the publication is oral or on film or tape, the Attorney-General may, on application, waive such requirement.