SENATE BILL REPORT

SB 6112

BYSenators Moore and Rasmussen

Providing for regular monthly meetings of the state advisory committee on securities and investments.

Senate Committee on Financial Institutions & Insurance

Senate Hearing Date(s):February 2, 1988

Senate Staff:Benson Porter (786-7470)

AS OF FEBRUARY 1, 1988

BACKGROUND:

The State Advisory Committee on Securities and Investments is a seven member committee established in 1959.  The committee advises the Director of Licensing, recommending changes to rules and regulations of the Department in areas deemed advisable.  Also, the committee prepares and publishes a report containing its recommendations to the Director.  The committee meets at least on a semiannual basis and may meet on a quarterly basis at the discretion of the committee's chairman.

Due to the increased complexity of the security industry's products and services, it has been suggested the committee meet more frequently.

SUMMARY:

The State Advisory Committee on Securities and Investments is required to meet monthly.

Appropriation:    none

Revenue:    none

Fiscal Note:      available