An Act To Adopt the Maine Uniform Securities Act
Maine Legislature, Session 122, LD 0509
Committee Amendment CA_A_H103 (House)

COMMITTEE AMENDMENT "A" to H.P. 384, L.D. 
Act To Adopt the Maine Uniform Securities Act" 
Amend 
the 
bil1 
in Part 
A 
in section 
designated "§1§lO2." in subsection 4 in paragraph 
line (page 12, line 2 in L.D. ) by inserting after 
"Q.ank" the following: 
, 
~r~!:1it J.!,niQn' 
, 
509, Bill, "An 
in that part 
C in the first 
the following: 
Further amend the bill in Part A in section 2 in that part 
designated "§16102." in subsection 26 in paragraph A in the first 
line (page 18, line 42 in L.D.) by striking out the fol1owing: 
"The gift Qf or delivery of a security" and inserting in its 
place the following: 
'A security given Qr delivered' 
Further amend the bill in Part A in section 2 in that part 
designated "§1§202." in subsection 25 in paragraph C in the 4th 
line (page 59, line 8 in L.D.) by inserting after the following: 
"and a" the following: 
'nonrefundable' 
Further amend the bill in Part A in section 2 in that part 
designated "§16305." in subsection 1 in the last line (page 82, 
line 6 in L.D.) by striking out the following: 
"registered" and 
inserting in its place the following: 
'licensed' 
Further amend the bill in Part A in section 2 in that part 
designated "§16410." in subsection 1 
by striking out all of 
paragraph A (page 112, lines 27 to 31 in L.D.) and inserting in 
its place the following: 
Page l-LR044l(2) 
COMMITTEE AMENDMENT 
~" 
COMMITTEE AMENDMENT "A" to H.P. 384, L.D. 509 
'A. 
A fee 
not to 
exceed 
$500 
for 
an application for 
licensing as a broker-dealer and renewal of licensing as a 
broker-dealer. 
If 
the 
filing 
results 
in 
a 
denial 
or 
withdrawal, the administrator shall retain the fee;' 
Further amend the 
designated 
"§16410." 
following: 
bill in Part A in section 2 in that part 
by 
inserting 
after 
subsection 
the 
'3. 
Actiye duty renewal fee waiver. 
The administrator may 
waive the renewal fee under subsection 1, paragraph B or D for a 
licensed agent or investment adviser representative who is 
a 
member of the National Guard or the Reserves of the United States 
Armed Forces under an order to active duty for a period of more 
than 30 days.' 
Further amend the bill in Part A in section 2 in that part 
designated "§16410." in subsection 3 in the first line (page 113, 
line 
in 
L. D. ) 
by striking out 
the 
following: 
"h" and 
inserting in its place the following: 
'~' 
Further amend the bill in Part A in section 2 in that part 
designated "§16412." in subsection 4 in paragraph C in the 2nd 
line 
(page 
119, 
line 
in 
L.D.) 
by 
inserting after 
the 
fOllowing: 
"convicted of" the following: 
'murder or' 
Further amend the bill in Part A in section 2 in that part 
designated "§16509." in subsection 10 in paragraph B in the 2nd 
line (page 140, line 21 in L.D.) by striking out the following: 
".2" and inserting in its place the following: 
'§.' 
Further amend the bill in Part A in section 2 in that part 
designated "§1660I." in subsection 6 in the 5th line (page 149, 
line 
in 
L.D.) 
by 
striking 
out 
the 
following: 
"sales 
representatives" 
and 
inserting 
in its 
place 
the 
following: 
'agents' 
Further amend the bill in Part A in section 2 by striking 
out all of that part designated "§16701." (page 176, lines 10 and 
in L.D.) and inserting in its place the following: 
'§16701. 
Effective date 
This chapter takes effect December 31, 2005.' 
SUMMARY 
This amendment does the following: 
COMMITTEE AMENDMENT 
\\-
COMMITTEE AMENDMENT ·A " to H.P. 384, L.D. 509 
1. 
It clarifies that a credit union is exempt from the 
definition of broker-dealer as are other financial institutions; 
2. 
It clarifies that the filing fee that must be paid 
before a viatica1 or life settlement contract may be offered for 
sale in this State is nonrefundable; 
3. 
It provides authority to the Securities Administrator to 
waive the renewal fee for licensed agents or investment adviser 
representatives who are members of the National Guard or Reserves 
of the United States Armed Forces on active duty; 
4. 
It changes the effective date from January 1, 2006 to 
December 31, 2005; and 
5. 
It makes other technical and grammatical changes. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Fiscal Detail and Notes 
Approved: 03/15/05 hac:.. 
LD509 
LR 0441(02) 
An Act To Adopt the Maine Uniform Securities Act 
Fiscal Note for Bill as Amended by Committee Amendment" " 
Committee: Insurance and Financial Services 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Other Special Revenue Funds 
Any additional costs to the Department of Professional and Financial Regulation in implementing this bill can be 
absorbed utilizing existing resources. 
LR0441(2) - Fiscal Note - Page 1 of 1