House Bill 418 Summary

• Amends Idaho Code Section 30-14-402 to update references to federal securities laws, including revisions to cite section 18(b)(4)(F) of the Securities Act of 1933 for federal covered securities exemptions.

• Amends Idaho Code Section 30-14-411 to revise references to section 15(hi) of the Securities Exchange Act of 1934 and section 222 of the Investment Advisers Act of 1940 regarding financial requirements, reporting, recordkeeping, custody, and discretionary authority rules.

• Amends Idaho Code Section 30-14-605 to update references to federal law in provisions governing administrator authority over rules, forms, orders, and financial statements for securities regulation.

• Makes technical corrections to ensure consistency with updated federal statutory citations throughout the Uniform Securities Act provisions.