Section 604.012. Nonresponse or affirmative rejection of offers made under section 504(d) or (e) of the act and § 504.060 (relating to rescission offers)—statement of policy

(a) Section 504(d) and (e) of the act (70 P. S. § 1-504(d) and (e)) requires that an offer made under those subsections remain open for acceptance for a period of not less than 30 days from receipt of the offer and § 504.060 (relating to rescission offers) sets forth the minimum amount of information to be contained in the offer.

(b) A nonresponse to an offer made under section 504(d) or (e) of the act and § 504.060 within 30 days of receipt thereof or an affirmative rejection of the offer within 30 days of receipt thereof terminates the offeree’s right to remedy under the act.

The provisions of this § 604.012 adopted September 21, 1990, effective September 22, 1990, 20 Pa.B. 4876; transferred and renumbered from 64 Pa. Code § 604.012, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533. Immediately preceding text appears at serial pages (324460) to (324461).

Notation

Authority

The provisions of this § 604.012 issued under section 604 of the Pennsylvania Securities Act of 1972 (70 P. S. § 1-604).