CHAPTER 101
HB 1281-FN – FINAL VERSION
10Feb2010… 0318h
28Apr2010… 1566eba
2010 SESSION
08/09
HOUSE BILL 1281-FN
COMMITTEE: Commerce and Consumer Affairs
This bill makes changes to the securities laws.
This bill is a request of the secretary of state.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10Feb2010… 0318h
28Apr2010… 1566eba
10-2482
08/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT relative to certain securities laws.
Be it Enacted by the Senate and House of Representatives in General Court convened:
101:1 Licensing Procedures. Amend RSA 421-B:7, VII(d)(1)(E) to read as follows:
(E) Chartered Investment Counselor (CIC) awarded by the Investment [Counsel] Advisor Association [of America, Inc.]; or
101:2 Post Licensing Provisions; Records, Reports and Replies. Amend RSA 421-B:8, XII(g) to read as follows:
(g) (1) All books and records required to be made under the provisions of subparagraphs (a)-(e)(1) and (h) and (i), inclusive of this paragraph (except for books and records required to be made under the provisions of [subparagraph (b)(11) and (b)(15)] subparagraphs (c)(11) and (c)(15) of this paragraph), shall be maintained and preserved in an easily accessible place for a period of not less than 5 years from the end of the fiscal year during which the last entry was made on such record, the first 2 years in an appropriate office of the investment adviser.
(2) Partnership articles and any amendments thereto, articles of incorporation, charters, minute books, and stock certificate books of the investment adviser and of any predecessor shall be maintained in the principal office of the investment adviser and preserved until at least 3 years after termination of the enterprise.
(3) Books and records required to be made under the provisions of [subparagraphs (b)(11) and (b)(15)] subparagraphs (c)(11) and (c)(15) shall be maintained and preserved in an easily accessible place for a period of not less than 5 years, the first 2 years in an appropriate office of the investment adviser, from the end of the fiscal year during which the investment adviser last published or otherwise disseminated, directly or indirectly, any notice, circular, advertisement, newspaper article, investment letter, bulletin, or other communication.
101:3 Denial, Revocation, Suspension, Cancellation, and Withdrawal of Application. Amend RSA 421-B:10, I(b)(7) to read as follows:
(7) Has engaged in dishonest or unethical practices in the [securities business] conduct of business in the state of New Hampshire or elsewhere;
101:4 License Fees. Amend RSA 421-B:31, I(a)(4) to read as follows:
(4) Amended dealer's license and investment advisor’s license fee $100
101:5 Effective Date. This act shall take effect July 1, 2010.
Approved: May 26, 2010
Effective Date: July 1, 2010