September 11, 2012, Introduced by Senator JANSEN 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).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
410. (1) Before October 1,
2012, 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,
2012,
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, 2012, 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, 2012, 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, 2012, 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, 2012, 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, 2012, 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, 2012, 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, 2012, 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, 2012,
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.