SB203 Alabama 2018 Session

Updated Feb 26, 2026

Low Interest

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.
Summary: SB 203 raises registration fees for securities agents and investment adviser representatives and creates a new filing fee option for open-end management companies issuing exempt securities.
What This Bill Does
The bill increases the initial and renewal registration fees for agents and for investment adviser representatives. It also adds a new bracket to the filing fee structure for open-end management investment companies that, by paying the fee, can issue certain securities exempt from registration by the Alabama Securities Commission. The changes apply to who must register and how much they pay, with fees supporting the Alabama Securities Commission's administration, and the act becomes effective on the first day of the third month after passage and governor approval.

Who It Affects
Securities agents and investment adviser representatives who transact business in Alabama will face higher initial and renewal registration fees.
Open-end management investment companies (mutual funds) that seek to issue securities exempt from registration will have a new filing fee bracket to obtain that exemption.

Key Provisions
Amends Sections 8-6-3 and 8-6-10 to increase the initial and renewal registration fees for agents and for investment adviser representatives.
Adds a bracket to the filing fee tier structure for open-end management investment companies that, by paying the filing fee, allows the company to issue certain securities exempt from registration by the Alabama Securities Commission.
Effective date: the first day of the third month following passage and governor’s 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