S-1911               _______________________________________________

                                                   SENATE BILL NO. 5955

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State of Washington                               51st Legislature                              1989 Regular Session

By Senator Anderson

Read first time 2/17/89 and referred to Committee on  Financial Institutions & Insurance.

AN ACT Relating to dual registration of securities salespersons; 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:

          A person:  (1) Registered simultaneously as a security salesperson with more than one broker-dealer, issuer, or owner of securities; or (2) registered simultaneously as an investment adviser salesperson with more than one investment adviser; or (3) registered simultaneously as a securities salesperson and an investment adviser salesperson, shall not be required to obtain an agreement from each employer requiring that each employer assume joint and several liability for violation of Washington securities law by the salesperson.