SB203 Alabama 2018 Session

Summary

Primary Sponsor

Trip Pittman

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.

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.

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.

This bill would increase the initial and renewal registration fee for an agent and for an investment adviser representative.

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.

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Subjects

Securities Commission