OFFERING PLAN EXTENSIONS PER GOVERNOR CUOMO’S EXECUTIVE ORDER
1. The requirement that Offering Plans have to be declared effective within 15 months from acceptance is tolled for the duration of this Executive Order.
2. All filing fees related to Offering Plans are waived for the duration of the emergency and shall be remitted within 90 days from the expiration of this Executive Order.
3. Any order, rule or regulation relating to the Budget for the First Year of Operation are tolled for the duration of this Executive Order. Sponsor must update the Budget for the first year of operation within 30 days after the expiration of this Executive Order and sponsor shall not be required to offer rescission to the extent that the budget for the first year of operation does not increase by 25% or more during the pendency of the disaster emergency.
4. Any order, rule or regulation in furtherance of the requirement that sponsor must offer rescission if the first closing does not occur during the first year of operation projected in schedule B is tolled for the duration of this Executive Order. Sponsor must update the first year of operation within 30 days from the expiration of this Executive Order.