[§485A-504]  Filing of sales and advertising
literature.  (a)  Except as otherwise provided in subsection (b) and
section [485A-501(a)(7)], a rule adopted or order issued under this chapter may
require the filing of a prospectus, pamphlet, circular, form letter,
advertisement, sales literature, or other advertising record relating to a
security or investment advice, addressed or intended for distribution to
prospective investors, including clients or prospective clients of a person
registered or required to be registered as an investment adviser under this
chapter.



(b)  This section shall not apply to
sales and advertising literature specified in subsection (a) that relate to a
federal covered security, a federal covered investment adviser, or a security or
transaction exempted by section 485A-201, 485A-202, or 485A-203, except as
required pursuant to section 485A-201(7). [L 2006, c 229, pt of §1]