CHAPTER 220

FORMERLY

HOUSE BILL NO. 386

AN ACT TO AMEND CHAPTER 73, TITLE 6 OF THE DELAWARE CODE RELATING TO THE REGISTRATION PROCEDURE FOR BROKER- DEALERS, INVESTMENT ADVISORS AND AGENTS, AND MAKING APPROPRIATION THEREFOR.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (three- fifths of all members elected to each House thereof concurring therein):

Section 1. Amend Chapter 73, Title 6, of the Delaware Code by striking 57314 (b) in its entirety and substituting in lieu thereof the following:

"(b) Except as provided in subsection (g) below, every applicant for initial or renewal registration as a broker- dealer or investment advisor shall pay a filing fee of $150. Every applicant for initial, transfer or renewal registration as an agent shall pay a filing fee of $20.

Section 2. Amend Chapter 73, Title 6 of the Delaware Code by striking the words "and (b)" as they appear on the first line of §7314 (f).

Section 3. Amend Chapter 73, Title 6 of the Delaware Code by striking §7314 (g) in its entirety and substituting in lieu thereof the following.

"(g) Broker- dealers or investment advisors filing as required under subsection (f) of this section shall be registered upon such filing being received by the commissioner and upon the payment of a fee of $10."

Section 4. For the purpose of implementing this Act the Office of Attorney General is hereby appropriated for the fiscal year ending June 30, 1986, the following:

(2.0) Salaries $28,200

Other Employment Costs 7,000

TOTAL $35,200

Section 5. This Act is a supplementary appropriation, and the money appropriated herein shall be paid by the State Treasurer out of funds in the General Fund of the State of Delaware not otherwise appropriated.

Section 6. Any moneys remaining unexpended or unencumbered by June 30, 1986 shall revert to the General Fund of the State of Delaware.

Approved October 10 1985,