CHAPTER 201

S.P. 495 - L.D. 1489

An Act To Update and Amend the Revised Maine Securities Act

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 32 MRSA §10302, sub-§2, ¶B, as enacted by PL 1985, c. 400, §2, is amended to read:

B. A sales representative bona fide officer, director, partner or member of the issuer, or an individual occupying a similar status or performing similar functions, or a bona fide employee of the issuer who is acting for an issuer in effecting transactions in a security exempt by one or more paragraphs of section 10502, subsection 1, except paragraphs E, F, G, H, I and J;

Sec. 2. 32 MRSA §10302, sub-§2, ¶C, as amended by PL 1999, c. 279, §1, is further amended to read:

C. A sales representative bona fide officer, director, partner or member of the issuer, or an individual occupying a similar status or performing similar functions, or a bona fide employee of the issuer who is acting for an issuer effecting offers or sales of securities in transactions exempt by one or more paragraphs of section 10502, subsection 2, except paragraph S;

Sec. 3. 32 MRSA §10302, sub-§2, ¶D, as amended by PL 1991, c. 82, §1, is further amended to read: