Under the Uniform Securities Act, which of the following scenarios is MOST likely to trigger an Administrator’s requirement for securities to be held in escrow?

1. AAn issuer is registering shares to be issued to a promoter for consideration other than cash.✓ Correct answer
2. BA large-cap company is issuing new shares via registration by notification.
3. CA mutual fund is launching a continuous primary offering.
4. DA broker-dealer is distributing treasury bonds.

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