Legislature(1999 - 2000)
1999-04-07 House Journal
Full Journal pdf1999-04-07 House Journal Page 0674 HB 83 The following, which was advanced to third reading from the March31, 1999, calendar (page 637), was read the third time: CS FOR HOUSE BILL NO. 83(JUD)(title am) "An Act relating to certain securities occupations and investment pools; relating, with regard to the Alaska Securities Act, to federal covered securities, the registration of securities, the general exemptions for securities and transactions, Internet offers of securities and transactions, file confidentiality, court petitions for civil penalty judgments, penalties for wilful violations, time limits for bringing court actions for violations, administrator-established fees and administrator-required reimbursements, consent to service, title, sales, purchases, offers to sell, and offers to purchase; exempting certain violations of the Alaska Securities Act from certain penalties; amending or repealing certain current definitions in the Alaska Securities Act; providing new Alaska Securities Act definitions for certain securities occupations, for certain federal statutes, and for the terms 'advisory client,' 'advisory fee,' 'advisory services,' 'clients who are natural persons,' 'federal covered security,' 'investment advisory business,' 'investment advisory contract,' 'NASDAQ,' 'notice filing,' 'place of business,' 'principal place of business,' 'securities business,' 'substantial portion of the business,' and 'supervised person'; and providing for an effective date." A title amendment, which amends Amendment No. 1 (page 635), was offered by Representatives Rokeberg and Berkowitz: 1999-04-07 House Journal Page 0675 HB 83 Line 5, following "confidentiality,": Delete "court petitions for civil penalty judgments, penalties for wilful violations," Insert "petitions to superior court by the administrator to reduce civil penalties to judgment," Line 11, following "from": Delete "certain" Insert "criminal" Representative Rokeberg moved and asked unanimous consent that the title amendment be adopted. There being no objection, it was so ordered and the new title appears below: CS FOR HOUSE BILL NO. 83(JUD)(title am) "An Act relating to certain securities occupations and investment pools; relating, with regard to the Alaska Securities Act, to federal covered securities, the registration of securities, the general exemptions for securities and transactions, Internet offers of securities and transactions, file confidentiality, petitions to superior court by the administrator to reduce civil penalties to judgment, time limits for bringing court actions for violations, administrator- established fees and administrator-required reimbursements, consent to service, title, sales, purchases, offers to sell, and offers to purchase; exempting certain violations of the Alaska Securities Act from criminal penalties; amending or repealing certain current definitions in the Alaska Securities Act; providing new Alaska Securities Act definitions for certain securities occupations, for certain federal statutes, and for the terms 'advisory client,' 'advisory fee,' 'advisory services,' 'clients who are natural persons,' 'federal covered security,' 'investment advisory business,' 'investment advisory contract,' 'NASDAQ,' 'notice filing,' 'place of business,' 'principal place of business,' 'securities business,' 'substantial portion of the business,' and 'supervised person'; and providing for an effective date." The question being: "Shall CSHB 83(JUD)(title am) pass the House?" The roll was taken with the following result: 1999-04-07 House Journal Page 0676 HB 83 CSHB 83(JUD)(title am) Third Reading Final Passage YEAS: 38 NAYS: 0 EXCUSED: 1 ABSENT: 1 Yeas: Austerman, Barnes, Berkowitz, Brice, Bunde, Cissna, Coghill, Cowdery, Croft, Davies, Davis, Dyson, Foster, Green, Grussendorf, Halcro, Harris, Hudson, James, Joule, Kapsner, Kemplen, Kerttula, Kohring, Kookesh, Kott, Morgan, Mulder, Murkowski, Ogan, Phillips, Porter, Rokeberg, Sanders, Smalley, Therriault, Whitaker, Williams Excused: Masek Absent: Moses And so, CSHB 83(JUD)(title am) passed the House. Representative Green moved and asked unanimous consent that the roll call on the passage of the bill be considered the roll call on the effective date clause. There being no objection, it was so ordered. CSHB 83(JUD)(title am) was referred to the Chief Clerk for engrossment.