Accordingly, the Company has provided us with, and authorized us to make on their behalf, the following factual representations in order to achieve the requested exemption or no-action relief. Since the Company's current total assets are in excess of $10 million, the Company is seeking an exemption or no-action relief to avoid becoming a reporting company as might otherwise be required under Section 12(g) of the Exchange Act.Īs described below, the Company satisfies the guidelines for relief from Section 12(g) of the Exchange Act published by the Division of Corporation Finance in its Maupdate to the current issues and rulemaking projects outline dated Novem(the "Guidelines"). More than 500 individuals currently hold options issued under the Plans.
#LOANSTAR HOME LENDING SUSBSIDARIES REGISTRATION#
On behalf of Accredited Home Lenders, Inc., a California corporation (the "Company"), we hereby apply for an exemption or request no-action relief under Section 12(h) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), from the registration requirements of Section 12(g) of the Exchange Act with respect to options the Company has granted, and may grant in the future, to its employees, directors and consultants, and to the employees, directors and consultants of its subsidiaries, under its 1998 Stock Option Plan (the "1998 Plan"), 1995 Executive Stock Option Plan (the "Executive Plan") and 1995 Stock Option Plan (the "1995 Plan") (collectively the "Plans"). Request for Exemptive Relief from Registration under Section 12(g) of the Exchange Act of 1934, as amended Further, this response only represents the Division's position on enforcement and does not purport to express any legal conclusion on the question presented.Īccredited Home Lenders, Inc.
Any different facts or conditions might require the Division to reach a different conclusion. This position is based on the representations made to the Division in your letter. This position will remain in effect until the date at which the Company otherwise becomes subject to the Exchange Act registration or reporting requirements with respect to any other class of its securities.
(the "Company")īased on the facts presented, the Division will not raise any objection if the Company does not comply with the registration requirements of Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"), which arose at the end of the Company's last fiscal year end, with respect to options granted and to be granted pursuant to the Company's 1998 Stock Option Plan, 1995 Executive Stock Option Plan and 1995 Stock Option Plan in the manner and subject to the terms and conditions set forth in your letter. Securities Exchange Act of 1934 - Section 12(g) No Action, Interpretive and/or Exemptive Letter:Īccredited Home Lenders, Inc.
Accredited Home Lenders, Inc.: No Action, Interpretive and/or Exemptive Letter of July 26, 2002