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WV SB677
Bill
AI Summary
- Registration fees for securities professionals set at $300 for broker-dealers and issuer agents, $70 for agents, $200 for investment advisers, and $75 for investment adviser representatives
- Issuers conducting Tier 2 Regulation A offerings must submit notice filings at least 21 calendar days before initial sale in West Virginia, with a $375 filing fee and $200 renewal fee for each additional 12-month period
- Annual sales report filing fee for registered issuers increased to a minimum of $300, with fees calculated at one-eighth of one percent of maximum offering price (capped at $1,800)
- State Auditor's securities division operating fund receives 25% of all fees collected under the Uniform Securities Act, with excess funds above 25% of gross revenues transferred to General Revenue Fund
- Compliance assessments established at $30 for initial licensing or employer changes and $12 for renewal licenses, with Legislature authorized to adjust fees every four years based on administrative cost increases
Legislative Description
Increasing fees charged by Commissioner of Securities for each offering
Finance and Administration
Last Action
Approved by Governor 4/28/2025 - House Journal
4/12/2025
Committee Referrals
Finance4/2/2025
Finance3/4/2025
Full Bill Text
No bill text available