| | | Sec. 20. 32 MRSA §10504, sub-§1, as amended by PL 1999, c. 279, §9, is | | further amended to read: |
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| | | 1. Filing of sales and advertising literature. The | administrator, by rule or order, may require the filing of any | | prospectus, pamphlet, circular, form letter, advertisement or | other sales literature or | | plan addressed or intended for distribution to prospective | | investors, including clients or prospective clients of an | | investment adviser, unless the security is a federal covered | | security or the security or transaction qualifies for an | | exemption under section 10502, subsection 2, paragraphs A to R | | for which the filing of a notice with the administrator is not | | required. |
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| | | Sec. 21. 32 MRSA §10505, sub-§4, as enacted by PL 1997, c. 168, §28, | | is repealed. |
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| | | Sec. 22. 32 MRSA §10505, sub-§4-A is enacted to read: |
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| | | 4-A.__Fees nonrefundable.__If a notice filing required | | pursuant to this section is withdrawn, abandoned or the subject | | of a stop order, the administrator shall retain the fee paid.__A | | notice filing may be considered abandoned if the administrator | | has not received a response to inquiries or deficiency notices | | for a period of at least 120 days.__The administrator shall send | | an abandonment notice to the last known address of the filer.__ | | The filer must respond to the abandonment notice within 30 days | | to avoid an abandonment determination.__The abandonment of a | | filing does not preclude the filing of a subsequent exemption or | | notice filing. |
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| | | Sec. 23. 32 MRSA §10701, sub-§5, as amended by PL 1989, c. 542, §55, | | is further amended to read: |
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| | | 5. Disclosure for enforcement purposes. The administrator | | may disclose any information obtained in connection with an | | investigation pursuant to section 10601 that would otherwise be | nonpublic information to the securities | | administrators specified in section 10702, subsection 1, but only | | if disclosure is required for the purpose of a civil, | | administrative or criminal enforcement investigation and the | | requesting agency certifies that under applicable law reasonable | | protections exist to preserve the integrity, confidentiality and | | security of the information, comparable to the protections | | existing under the laws of this State. |
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| | | Sec. 24. 32 MRSA §10701, sub-§5-A is enacted to read: |
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