Introduced
by
To adopt the Uniform Securities Act created by the National Conference of Commissioners on Uniform State Laws (www.nccusl.org), which updates the regulations and licensure requirements for those who sell securities and those who advise buyers. The new act is designed to reflect changes in technology that allow for electronic transactions and transmissions, a changing global economy, court decisions, and new federal laws. For much more information, see the non-partisan legislative <a href="http://michiganlegislature.org/documents/2003-2004/billanalysis/house/htm/2003-HLA-5746-1.htm">analysis</a> of the bill.
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one incorporating technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To clarify certain exemptions to the term "broker-dealer" in the bill, and the regulations that apply to a broker-dealer.
The amendment passed by voice vote
Passed in the House 69 to 37 (details)
To adopt the Uniform Securities Act created by the National Conference of Commissioners on Uniform State Laws (www.nccusl.org), which updates the regulations and licensure requirements for those who sell securities and those who advise buyers. The new act is designed to reflect changes in technology that allow for electronic transactions and transmissions, a changing global economy, court decisions, and new federal laws. For much more information, see the non-partisan legislative analysis of the bill.
Referred to the Committee on Banking and Financial Institutions
