LD 1489
pg. 1
LD 1489 Title Page An Act To Update and Amend the Revised Maine Securities Act Page 2 of 6
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LR 1912
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 32 MRSA §10302, sub-§2, ¶B, as enacted by PL 1985, c. 400,
§2, is amended to read:

 
B. A sales representative who is otherwise employed by an
issuer and acting for an issuer in effecting transactions
in a security exempt by one or more paragraphs of section
10502, subsection 1, except paragraphs E, F, G, H, I and
J;

 
Sec. 2. 32 MRSA §10302, sub-§2, ¶C, as amended by PL 1999, c. 279,
§1, is further amended to read:

 
C. A sales representative who is otherwise employed by an
issuer and acting for an issuer effecting offers or sales
of securities in transactions exempt by one or more
paragraphs of section 10502, subsection 2, except
paragraph S;

 
Sec. 3. 32 MRSA §10302, sub-§2, ¶D, as amended by PL 1991, c. 82, §1,
is further amended to read:

 
D. A sales representative who is otherwise employed by an
issuer and acting for an issuer effecting transactions
with existing employees, partners, officers or directors
of the issuer, a parent or wholly owned subsidiary of the
issuer, provided that no commissions or other remuneration
are paid or given directly or indirectly to that person
for soliciting any employee, partner, officer or director
in this State; and

 
Sec. 4. 32 MRSA §10306, sub-§1, ¶A, as amended by PL 1993, c. 410,
Pt. K, §3, is further amended to read:

 
A. Broker-dealer, $200 and for each branch office in this
State, $50;

 
Sec. 5. 32 MRSA §10306, sub-§1, ¶C, as amended by PL 2001, c. 183,
Pt. A, §4 and affected by §14, is further amended to read:

 
C. Investment adviser, $200; and

 
Sec. 6. 32 MRSA §10306, sub-§1, ¶D, as enacted by PL 2001, c. 183,
Pt. A, §5 and affected by §14, is amended to read:

 
D. Investment adviser representative, $40.; and

 
Sec. 7. 32 MRSA §10306, sub-§1, ¶E is enacted to read:

 
E.__Each branch office in this State, as defined in
subsection 3, $50.


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