N.J. Admin. Code § 17:16-40.1
The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise:
"Non-convertible preferred stocks" mean shares of stock which provide a dividend that is paid before any dividends are paid to holders of common stock and additional rights above and beyond those conferred by common stock. The shares are not convertible into common stock of the issuing entity.
"Private placement" means a negotiated sale in which the securities are sold directly to institutional or private investors, rather than through a public offering registered with the U.S. Securities and Exchange Commission or applicable foreign regulatory body. Private placement includes the sale of securities pursuant to Section 4(2), Regulation D, Regulation S, or Rule 144A under the Securities Act of 1933.
N.J. Admin. Code § 17:16-40.1
See: 45 N.J.R. 1477(a), 46 N.J.R. 442(a).
In definition "Non-convertible preferred stocks", substituted "mean" for "means" and "issuing entity" for "corporation"; rewrote definition "Private placement"; and deleted definition "U.S. corporation".