HB290 Alabama 2018 Session

Summary

Primary Sponsor

Steve ClouseRepresentative

Republican

Session

Regular Session 2018

Title

Securities, registration fees for agents and investment advisor representative increased, filing fees for certain management investment companies revised, Secs. 8-6-3, 8-6-10 am'd.

Summary

HB 290 would raise registration fees for securities agents and investment adviser representatives and create a new filing-fee bracket for open-end management investment companies that issue exempt securities.

What This Bill Does

It increases the initial and renewal registration fees for agents and for investment adviser representatives. It adds a new bracket to the filing-fee tiers for open-end management investment companies that, by paying the fee, can issue certain securities exempt from registration. The bill preserves existing registration requirements and directs fees to the Alabama Securities Commission Fund for the Commission's use.

Who It Affects

• Securities agents and investment adviser representatives will owe higher initial and renewal registration fees.
• Open-end management investment companies that seek to issue exempt securities will have a new filing-fee bracket to obtain exemption by paying the specified fee.

Key Provisions

• Amends Section 8-6-3 to increase the initial/renewal registration fee for an agent and for an investment adviser representative.
• Amends Section 8-6-10 to add a bracket to the filing fee tier structure for open-end management investment companies that issue securities exempt from registration by the Alabama Securities Commission.
• Effective date: the act becomes law on the first day of the third month following passage and approval.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Securities Commission