Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-04-11

two weeks from the last puhl,sos
Any person may. within such rSa
of two weeks. file objection "a
proposed registration. u
II the commissioner In s.u..
that the dealer IL Of good renu,s nee
that the proposed plan Of busins.ssM
the dealer is not unfair. nrs-0
or ineauitable. and that the Ssssg
er intends to honestly and fsiss-
conduct its business. with dIacisvI
ure of pertinent facts suilcisrt
enable intending purchasers Ia ~
q judgment of the nature ana ' ~.
ue Of the securities. and WIN.
intent to deceive or defraud 'Ioa!
that the securities that II sa
poses to issue or sell are not suck Ky.
in his opinion will work a fraud nv
the purchasers thereof. he XXI. m
register the dealer unless ob,ee,saa
to such registration shall be AZ
with the commissioner within N.
publication Of the dealers apn,ss
ton.
If the commissioner is not 90 SAT-.
fed. or il within the period OF ~.
weeks succeeding the public.t,ao
aforesaid. objection shall be maSs -
the proposed registration. the ec,u
missioner shall give notice Of eith.,
JdCt W lIlt anu upOUz feQuest
from the dealer shall fix a time ~
place for hearing. and at such hss,l
ing opportunity shall be given 10 ~.
dealer, and to any other person. ~
terestcd or objecting, to offer furtbs,
evidence relating to the dealers A..
plication. II satisfied. as aforsssT
as result Of such hearing. the con,
missioner shall thereupon resirts,
the dealer. Registration NAV 4.
granted upon such reasonable conS.
lions as may be imposed by the con.
missioner.
Upon registration of any deale, /,
registration certificate shall be Il.
sued stating the name. principal plas.
of business and address Of the deajsr
the names, residences and busirs.
addresses of all persons interested !.
the business as principals, ofles,,
directors or managing agents, and III
fact that the dealer has been reris
tered for the current calendar ys,,
as dealer in securities. The CERT.
ficate shall in other respects be /, |
such form as the commissioner ma,
determine. but shall state in tS1
type that the commissioner does nm
recommend. and assumes no respo..
sibility for. securities offered BY ia
dealer. Changes in the certinca.s
necessitated by changes in the De-,
sonnet of a partnership or in III
principals, officers. directors or MAJ.
agirg agents of any dealer, may !.
II.ide at any time upon written a.
pIication to the commissioner, A..
companied by statement of the fatt,
necessitating the change. Upon IN
issue of the amended certificates Ia.
original certificate and the certi64
copies thereof outstanding shall b |
promptly surrendered to the CON.
ms sioner.
Sec. 125. Upon written applicants,
by registered dealer, the commt
sioner may register. as agents w|
statesmen of such dealer. such De-.
sons as the dealer may request. Tn
application shall be in such form q
the commissioner may prescribe, sr.
shall state the residences and ID
dresses OF the persons whose regr
tration is requested. The connr
sioncr shall issue TO each person u
registered registration certihcats
stating his name. residence and st
dress. the name. principal place Il
business and the address of Ii.
dealer. and the fact that he is re.
istered for the current calendar ysu
as agent or salesman. as the ess
may be. of the dealer. The certifca.
shall in other respects be in suti
form as the commissioner shall d.
tcrmine but shall state in bold tyE
recommend, or assume any reswt
sibility for. securities offered BY tn
dealer, or the dealers agents or sales
men. Upon application by the deslsl
the registration of any agent or SALE
man shall be cancelled.
Sec. 126. Under sections one bur
dred twcnty-three to one hundrs
dealer" shall mean any individual
partnership. association or corpof
alton engaging in the business d
selling or Offering for sale securitia
except to. or through the medium q
or as agent or salesman of. regis
tered dealer. But sales made by o.
in behalf of. vendor in the o..
investment. or change of investmsn-
shall not constitute such vendor "
the agent or such vendor. IL Mt
otherwise cnga aged either permanent.
ly or temporarily in selling securiu9
a dealer in securities. Nor shall tie
offer of or sale OF its own securfti;
by an association or a corporatos
to it's own members or STOCKHOLDERS
constitute such association or Ger
poration dealer in securities.
The term securities" shall inclats
all stocks, bonds, debentures. or cei.
tificates of participation. and oil
other forms of securities, except that
it shall not be held to include CON.
mercial paper or other evidence o.
debt running not more than nine
months. or securities legal for pl'.
chase by savings banks under The
statutes of any New England stats
or notes secured by mortgag Of reai
estate in this state. or the shares OF
loan and building associations or
sanized under the laws of this state
or securities whose issue has been
l. L Ia trsfls
ties commission.
Sec 127. All registrations shall
expire at the close of the calendai
year. but new registrations for ts
SucCe edinG year may be issued as Q.
course. upon written application Oh
the dealer. and payment of the fee
hereinafter provided. without the
filing of further statements or FUR
nishing any further information un
less specifically requested by the
commit ssioner: provided. that appl-
cations for renewal of resistratlon
shall be made on or before the mrs.
day of March in each year. and II mol
so made, applications thereafter re-
ccived shall be treated as. and be slo'
ject to the same fees provided iof'
original registrations.
Sec. IFS. The commissioner SHAH
at least twice during each year. pue.
lish in the state paper list OF tns
then registered dealers. and of the,,
registered agents or statesmen, anu
shall also at any time. on reaues'
by mail or otherwise, inform any m
ouircr as to whether or not any in.
dividual. partnership. corporation 9.
association is registered either ~
dealer. agent or salesman.
Sec. 129. Any dealer may. and any
person named in a registration GER
tificate as above provided may. in pe'
half of any dealer. sell, offer Tor SAY,
or invite offers for or INQUIRIES anou.
securities in this state. but shan a.
all times when so engaged carry
with him the registration ccrtificaN,
or copy thereof. certified by tns
commissioner. which shall at an,
time be shown to any prospectus
customer upon request. No dealel,
agent or salesman shall advertiss
publicly the fact of his registrauoOnn
or use such fact or the reSistrauorr
certificate, in connection with an,
sale or effort to sell securities. eXcep'
by statement of the fact or by ss.,
hibitinS tire certificate or a certiiiea
copy thereof.
Sec. $50. The commissioner may ~
any time require a dealer 10 m nS