8.__Abandonment of exemption or notice filing.__An exemption filing or notice filing required pursuant to this section may be considered abandoned if the administrator has not received a response to inquiries or deficiency notices for a period of at least 120 days.__The administrator shall send an abandonment notice to the last known address of the filer.__ The filer must respond to the abandonment notice within 30 days to avoid an abandonment determination.__The abandonment of a filing does not preclude the filing of a subsequent exemption filing or notice filing.

9.__Fees nonrefundable.__If an exemption filing or notice filing is withdrawn, abandoned, denied or revoked, the administrator shall retain the fee paid.

Sec. 20. 32 MRSA §10504, sub-§1, as amended by PL 1999, c. 279, §9, is further amended to read:

1. Filing of sales and advertising literature. The administrator, by rule or order, may require the filing of any a prospectus, pamphlet, circular, form letter, advertisement or other sales literature or, advertising communication or business plan addressed or intended for distribution to prospective investors, including clients or prospective clients of an investment adviser, unless the security is a federal covered security or the security or transaction qualifies for an exemption under section 10502, subsection 2, paragraphs A to R for which the filing of a notice with the administrator is not required.

Sec. 21. 32 MRSA §10505, sub-§4, as enacted by PL 1997, c. 168, §28, is repealed.

Sec. 22. 32 MRSA §10505, sub-§4-A is enacted to read:

4-A.__Fees nonrefundable.__If a notice filing required pursuant to this section is withdrawn, abandoned or the subject of a stop order, the administrator shall retain the fee paid.__A notice filing may be considered abandoned if the administrator has not received a response to inquiries or deficiency notices for a period of at least 120 days.__The administrator shall send an abandonment notice to the last known address of the filer.__The filer must respond to the abandonment notice within 30 days to avoid an abandonment determination.__The abandonment of a filing does not preclude the filing of a subsequent exemption or notice filing.