South Carolina General Assembly
116th Session, 2005-2006

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Bill 1363

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Indicates Matter Stricken

Indicates New Matter

RECALLED

May 25, 2006

S. 1363

Introduced by Senator Martin

S. Printed 5/25/06--H.

Read the first time May 2, 2006.

            

A BILL

TO AMEND SECTION 35-1-405 OF THE 1976 CODE, RELATING TO THE S.C. UNIFORM SECURITIES ACT OF 2005, FEDERAL COVERED INVESTMENT ADVISER NOTICE FILING REQUIREMENTS, SO AS TO PROVIDE THE CORRECT CITATION; AND TO AMEND SECTION 35-1-702, RELATING TO FEES, SO AS TO PROVIDE THAT THE CORRECT FEE FOR A BROKER-DEALER RENEWAL IS ONE HUNDRED TEN DOLLARS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 35-1-405(c) of the 1976 Code, as amended by Act 110 of 2005, is amended to read:

"(c)    A person acting as a federal covered investment adviser, not excluded under subsection (b), shall file a notice, a consent to service of process complying with Section 35-1-611, and such records as have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940 required by rule adopted or order issued under this chapter and pay the fees specified in Section 35-1-410(e) Section 35-1-410(a)."

SECTION    2.    Section 35-1-702(a)(9) of the 1976 Code, as amended by Act 110 of 2005, is amended to read:

"(9)    Broker-Dealer Agent (renewal or change of registration filing fee): One hundred ten dollars"

SECTION    3.    This act takes effect upon approval by the Governor.

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