An Act To Provide the Securities Administrator with the Power To Investigate Potential Violations Involving the Sale of Business Opportunities
Maine Legislature, Session 126, LD 1266
Committee Amendment CA_A_H265 (House)

COMMITTEE AMENDMENT "it" to H.P. 905, L.D. 1266, Bill, "An Act To 
Provide the Securities Administrator with the Power To Investigate Potential Violations 
Involving the Sale of Business Opportunities" 
Amend the bill by inserting after the title and before the enacting clause the 
following: 
'Emergency preamble. Whereas, acts and resolves of the Legislature do not 
become effective until 90 days after adjournment unless enacted as emergencies; and 
Whereas, the Securities Administrator is charged with enforcing the law regulating 
the sale of business opportunities for the protection of those seeking to start their own 
businesses in the State; and 
Whereas, current law clearly provides authority to the Securities Administrator to 
take administrative enforcement action to curb potential and existing violations of the 
business opportunities law; and 
Whereas, the authority of the Securities Administrator to conduct investigations to 
uncover potential and existing violations is not as clear; and 
Whereas, this legislation provides the Securities Administrator with explicit 
authority to conduct investigations of potential and existing violations of the business 
opportunities law; and 
Whereas, this legislation will ensure that those persons seeking to start their own 
businesses in the State are investing in legitimate business opportunities; and 
Whereas, in the judgment of the Legislature, these facts create an emergency within 
the meaning of the Constitution of Maine and require the following legislation as 
immediately necessary for the preservation of the public peace, health and safety; now, 
therefore,' 
Amend the bill in section 1 in §4699-A in subsection 3 in the 2nd and 3rd lines (page 
1, lines 12 and 13 in L.D.) by striking out the following: "an officer designated by the 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT "A" to H.P. 905, L.D. 1266 
Securities Administrator" and inserting the following: 
'the Securities Administrator's 
designee' 
Amend the bill in section 1 in §4699 ... A in subsection 3 in the 2nd line from the end 
(page 1, line 16 in L.D.) by striking out the following: 
"officer" and inserting the 
following: 'designee' 
Amend the bill in section 1 in §4699-A in subsection 4 in the 2nd and 3rd lines (page 
1, lines 19 and 20 in L.D.) by striking out the following: "an officer designated by the 
Securities Administrator" and inserting the following: 
'the Securities Administrator's 
designee' 
0 
Amend the bill in section 1 in §4699-A in subsection 4 in the 4th line (page 1, line 21 
in L.D.) by striking out the following: "designated officer" and inserting the following: 
'designee' 
Amend the bill by inserting at the end before the summary the following: 
'Emergency clause. 
In view of the emergency cited in the preamble, this 
legislation takes effect when approved.' 
SUMMARY 
This amendment clarifies language used in the bill and adds an emergency preamble 
and emergency clause. 
FISCAL NOTE "!·.i~ L 11~t.jJ 
!~e~ attached) 
COMMITTEE AMENDMENT 
Approved: OS/24/13 
~aG 
LD 1266 
LR 548(02) 
An Act To Provide the Securities Administrator with the Power To Investigate Potential Violations 
Involving the Sale of Business Opportunities 
=-\ 
Fiscal Note for Bill as Amended by Committee Amendment 'ft c H -d6 ~ 
Committee: Insurance and Financial Services 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - General Fund 
Minor cost increase - Other Special Revenue Funds 
C(,)rrectional and Judicial Impact Statements 
Increases case-loads with no effect on fines or fees 
Fiscal Detail and Notes 
Additional costs to the Office of Securities in the Department of Professional and Financial Regulation are expected 
to be minor and can be absorbed within existing budgeted resources. 
LR0548(02) - Fiscal Note - Page 1 of 1