March 25, 2015, Introduced by Reps. Kosowski and Santana and referred to the Committee on Appropriations.
A bill to amend 2008 PA 551, entitled
"Uniform securities act (2002),"
by amending section 410 (MCL 451.2410), as amended by 2012 PA 307.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
410. (1) Before October 1, 2015, a A person shall pay a
fee of $300.00 when initially filing an application for
registration as a broker-dealer and a fee of $300.00 when filing a
renewal
of registration as a broker-dealer. After September 30,
2015,
a person shall pay a fee of $250.00 when initially filing an
application
for registration as a broker-dealer and a fee of
$250.00
when filing a renewal of registration as a broker-dealer.
If the filing results in a denial or withdrawal, the administrator
shall retain all of the filing fee.
(2)
Before October 1, 2015, an An
individual shall pay a fee
of $65.00 when filing an application for registration as an agent,
a fee of $65.00 when filing a renewal of registration as an agent,
and a fee of $65.00 when filing for a change of registration as an
agent.
After September 30, 2015, an individual shall pay a fee of
$30.00
when filing an application for registration as an agent, a
fee
of $30.00 when filing a renewal of registration as an agent,
and
a fee of $30.00 when filing for a change of registration as an
agent.
If the filing results in a denial
or withdrawal, the
administrator shall retain all of the filing fee.
(3)
Before October 1, 2015, a A
person shall pay a fee of
$200.00 when filing an application for registration as an
investment adviser and a fee of $200.00 when filing a renewal of
registration
as an investment adviser. After September 30, 2015, a
person
shall pay a fee of $150.00 when filing an application for
registration
as an investment adviser and a fee of $150.00 when
filing
a renewal of registration as an investment adviser. If the
filing results in a denial or withdrawal, the administrator shall
retain all of the filing fee.
(4)
Before October 1, 2015, an An
individual shall pay a fee
of $65.00 when filing an application for registration as an
investment adviser representative, a fee of $65.00 when filing a
renewal of registration as an investment adviser representative,
and a fee of $65.00 when filing a change of registration as an
investment
adviser representative. After September 30, 2015, an
individual
shall pay a fee of $30.00 when filing an application for
registration
as an investment adviser representative, a fee of
$30.00
when filing a renewal of registration as an investment
adviser
representative, and a fee of $30.00 when filing a change of
registration
as an investment adviser representative. If the filing
results in a denial or withdrawal, the administrator shall retain
all of the filing fee.
(5)
Before October 1, 2015, a A
federal covered investment
adviser required to file a notice under section 405 shall pay an
initial
and annual notice fee of $200.00. After September 30, 2015,
a
federal covered investment adviser required to file a notice
under
section 405 shall pay an initial and annual notice fee of
$150.00.
(6) A person that is required to pay a filing or notice fee
under this section may transmit the fee through or to a designee as
a rule or order requires under this act.
(7) An investment adviser representative who is registered as
an agent under section 402 and who represents a person that is both
registered as a broker-dealer under section 401 and registered as
an investment adviser under section 403 or required as a federal
covered investment adviser to make a notice filing under section
405 is not required to pay an initial or annual registration fee
for registration as an investment adviser representative.
Enacting section 1. This amendatory act takes effect October
1, 2015.