H-642                _______________________________________________

                                                     HOUSE BILL NO. 96

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Winsley, Lux, Barrett, Madsen, Smitherman, Prince, Schmidt, May, Lundquist, J. Williams and Silver

Read first time 1/18/85 and referred to Committee on Financial Institutions & Insurance.

AN ACT Relating to securities; and amending RCW 21.20.550.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 55, chapter 282, Laws of 1959 as amended by section 3, chapter 171, Laws of 1973 1st ex. sess. and RCW 21.20.550 are each amended to read as follows:

          There is hereby created a state advisory committee which shall consist of seven members to be appointed by the governor on the basis of their experience and qualifications.  The membership shall be selected, insofar as possible, on the basis of giving both geographic representation and representation to all phases of the securities business including representatives of direct participation program issuers, corporate securities issuers, financial planning and advisory firms, securities broker-dealer firms, and the legal and accounting professions.