Any offering of fractional interests in oil and gas programs are required to be registered in a state by qualification.
Why are people's qualification required?
This is because there are many frauds selling these securities to investors, hence, the state law is written to make sure that these offerings get the most stringent review before they can be sold in a State.
Hence, because of this, any offering of fractional interests in oil and gas programs are required to be registered in a state by qualification.
Therefore, the Option C is correct.
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