Bill > SB1192

This bill makes various changes to the regulation of securities under the Tennessee Securities Act of 1980. The key provisions include: - Exempting certain securities and transactions from certain disclosure and registration requirements under the Act. - Modifying the process and requirements for registration of securities, broker-dealers, agents, investment advisers, and investment adviser representatives. - Authorizing the Tennessee Securities Commissioner to impose civil penalties for violations of the Act. - Requiring the filing of certain documents and paying of fees prior to the sale of certain securities in Tennessee. - Adding a new provision allowing broker-dealers and investment advisers to delay disbursements from accounts of "designated adults" if they reasonably believe financial exploitation may be occurring, and providing immunity for such actions taken in good faith. The bill amends various sections of Title 48, Chapter 1, Part 1 of the Tennessee Code Annotated.

Budget and Finance, Business and Industry

http://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1192&ga=110