1999-02-24                     House Journal                      Page 0296
HB 83                                                                        
penalties; relating to time limitations in bringing court actions for         
violations of the Alaska Securities Act; relating to the affirmative           
defense of timeliness in court actions relating to securities;                 
prohibiting certain lawsuits involving buyers of securities; relating          
to time limitations for bringing court actions involving the receipt           
of a written offer related to securities; relating to offers to repay          
buyers of securities; relating to notification of certain securities           
occupations regarding administrative hearings; relating to fees                
established by the administrator; relating to a sale, a purchase, or           
an offer to sell or purchase under the Alaska Securities Act;                  
relating to the locations of offers to buy or sell; relating to consent        
to service; amending the Alaska Securities Act definitions of                  
'agent,' 'broker-dealer,' 'person,' 'Securities Act of 1933,' and              
'security;' defining for purposes of the Alaska Securities Act                 
'advisory client,' 'advisory fee,' 'advisory services,' 'Bank Holding          
Company Act of 1956,' 'clients who are natural persons,' 'federal              
covered adviser,' 'federal covered security,' 'Federal Deposit                 
Insurance Act,' 'Home Owners' Loan Act,' 'investment adviser                   
representative,' 'Investment Advisers Act of 1940,' 'investment                
advisory business,' 'investment advisory contract,' 'Investment                
Company Act of 1940,' 'NASDAQ,' 'National Securities Markets                   
Improvement Act of 1996,' 'notice filing,' 'place of business,'                
'principal place of business,' 'Securities Exchange Act of 1934,'              
'securities business,' 'state investment adviser,' 'substantial portion        
of the business,' and 'supervised person'; relating to the title of the        
Alaska Securities Act; relating to the definitions in the Alaska               
Securities Act of 'assignment' and 'investment adviser'; relating to           
implementation of the changes to the Alaska Securities Act; and                
providing for an effective date."                                              
                                                                               
The report was signed by Representative Rokeberg, Chair, with the              
following individual recommendations:                                          
                                                                               
Do pass (2):  Rokeberg, Murkowski                                              
                                                                               
No recommendation (5):  Halcro, Sanders, Brice, Cissna, Harris                 
                                                                               
The following fiscal note applies to CSHB 83(L&C):