HB290 Alabama 2018 Session

Sponsors

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.

Description

<p class="bill_description"> Under existing law, a person may not transact business in the state as a dealer or agent for securities unless he or she is registered with the Alabama Securities Commission</p><p class="bill_description"> Also under existing law, a person may not offer or sell any security in the state unless the security is registered with the commission or is statutorily exempt from registration</p><p class="bill_description"> This bill would increase the initial and renewal registration fee for an agent and for an investment adviser representative</p><p class="bill_description"> This bill would also add a bracket to its filing fee tier structure for an open-end management investment company that, by paying the filing fee, allows the company to issue certain securities exempt from registration by the commission</p><p class="bill_entitled_an_act"> Relating to securities; to amend Sections 8-6-3 and 8-6-10, Code of Alabama 1975; to increase the registration fee for an agent and for an investment adviser representative; and to add a bracket to the filing fee tier structure for open-end management companies that issue securities that are exempt from registration by the Alabama Securities Commission. </p>

Subjects

Securities Commission