Jurisdiction State Sells Securities Period when the state sells the shares date
Alabama Yes Within 1 year
Alaska Yes After 3 years
Arizona Yes At the state discretion
Arkansas Yes Within 1 year
California Yes After 1 year
Colorado Yes After 3 years
Connecticut Yes Within 1 year
Delaware Yes Within 1 year
Florida Yes Within 1 year
Georgia Yes Within 1 year
Hawaii Yes After 3 years
Idaho Yes Within 1 year
Illinois Yes After 3 years
Indiana Yes Within 1 year
Iowa Yes Within 1 year
Kansas Yes Within 1 year
Kentucky Yes After 3 years
Louisiana Yes 3 years (stock); 1 year (other securities)
Maine Yes Within 1 year
Maryland Yes Within 1 year
Massachusetts Yes After 3 years
Michigan Yes Within 1 year
Minnesota Yes Within 1 year
Mississippi Yes After 3 years
Missouri Yes Within 2 years
Montana Yes After 3 years
Nebraska Yes After 3 years
Nevada Yes Within 1 year
New Hampshire Yes Within 1 year
New Jersey Yes After 3 years
New Mexico Yes After 3 years
New York Yes Within 1 year
North Carolina Yes After 3 years
North Dakota Yes After 3 years
Ohio Yes At the state discretion
Oklahoma Yes Within 1 year
Oregon Yes At the state discretion
Pennsylvania Yes At the state discretion
Rhode Island Yes Within 1 year
South Carolina Yes After 3 years
South Dakota Yes Within 1 year
Tennessee Yes After 2 years
Texas Yes Within 1 year
Utah Yes After 3 years
Vermont Yes After 3 years
Virginia Yes Within 1 year
Washington Yes Within 1 year
West Virginia Yes After 3 years
Wisconsin Yes Within 1 year
Wyoming Yes After 3 years