H-0168.1  _______________________________________________

                          HOUSE BILL 1354

          _______________________________________________

State of Washington      56th Legislature     1999 Regular Session

By Representatives Carlson, Benson, Hatfield, D. Schmidt and Bush

Read first time 01/22/1999.  Referred to Committee on Financial Institutions & Insurance.

Regulating fees charged by broker-dealers.

    AN ACT Relating to regulating the fees charged by broker-dealers; and adding a new section to chapter 21.20 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 21.20 RCW to read as follows:

    It is unlawful for a broker-dealer or its associated salesperson to charge a customer a periodic fee if the broker-dealer or its associated salesperson has not effected transactions in securities for the customer during the period for which the broker-dealer or its associated salesperson is charging the fee.

                            --- END ---