SB203 Summary

• Increases initial and renewal registration fees for agents from $60 to $70 and for investment adviser representatives from $60 to $70.

• Adds a new fee bracket for open-end management investment companies with total net assets equal to or greater than $250,000,000, establishing a $2,000 nonrefundable filing fee for such companies.

• Allows open-end management investment companies paying the applicable filing fee to issue certain securities that are exempt from registration by the Alabama Securities Commission.

• All fees collected are deposited in the Alabama Securities Commission Fund in the State Treasury for administration of securities laws.

• Becomes effective on the first day of the third month following passage and approval by the Governor.