A company is registering a security by qualification in both State Q and State R. State Q’s Administrator issues a stop order for material deficiencies, but State R’s Administrator does not. Which is MOST accurate?

1. AThe stop order in State Q prevents sales only in State Q.✓ Correct answer
2. BSales are prohibited in both states until the deficiency is resolved.
3. CState R’s Administrator must also issue a stop order.
4. DThe federal SEC must intervene before sales resume.

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