HB290 Alabama 2018 Session

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

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.