LD 509
pg. 15
Page 14 of 183 An Act To Adopt the Maine Uniform Securities Act Page 16 of 183
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LR 441
Item 1

 
13.__Insured. "Insured" means insured as to payment of all or
substantially all principal and interest or dividends.

 
14.__International banking institution. "International banking
institution" means an international financial institution of
which the United States is a member and whose securities are
exempt from registration under the federal Securities Act of
1933.

 
15.__Investment adviser. "Investment adviser" means a person
that, for compensation, engages in the business of advising
others, either directly or through publications or writings, as
to the value of securities or the advisability of investing in,
purchasing or selling securities or that, for compensation and as
a part of a regular business, issues or promulgates analyses or
reports concerning securities. "Investment adviser" includes a
financial planner or other person that, as an integral component
of other financially related services, provides investment advice
to others for compensation as part of a business or that holds
itself out as providing investment advice to others for
compensation. "Investment adviser" does not include:

 
A.__An investment adviser representative;

 
B.__A lawyer, accountant, engineer or teacher whose
performance of investment advice is solely incidental to the
practice of the person's profession;

 
C.__A broker-dealer or its agents whose performance of
investment advice is solely incidental to the conduct of
business as a broker-dealer and that does not receive
special compensation for the investment advice;

 
D.__A publisher of a bona fide newspaper, news magazine or
business or financial publication of general and regular
circulation;

 
E.__A federal covered investment adviser;

 
F.__A bank or savings institution;

 
G.__Any other person that is excluded by the federal
Investment Advisers Act of 1940 from the definition of
investment adviser; or

 
H.__Any other person excluded by rule adopted or order
issued under this chapter.__Rules adopted pursuant to this
paragraph are routine technical rules as defined in Title 5,
chapter 375, subchapter 2-A.


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