The term that is true of the investor's position is Rule 147 and this is one that prohibits the sale of securities to any person who is a non-residents for six months.
What is the rule 147 about?
Rule 147 is known to be the rule that hinders the sale of securities to anyone who is found to be a non-residents for six months.
Note that if the six months have elapsed, the shares is one that is or can be sold out of state, but it is one that no body can be able to registered in that state or sold inn a case of an exemption.
Hence, in the case above, The term that is true of the investor's position is Rule 147 and this is one that prohibits the sale of securities to any person who is a non-residents for six months.
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