November 26, 1990
TO: UNIT INVESTMENT TRUST MEMBERS NO. 74-90
RE: RHODE ISLAND ADOPTS MANUAL EXEMPTION RULE
__________________________________________________________
The Rhode Island Securities Division recently proposed a
package of rules to give effect to certain provisions of the
Rhode Island Uniform Securities Act of 1990 ("RUISA"). Rule
R.402(3)-1. designates the manuals that will be recognized by the
director of the division for purposes of qualifying for the
manual exemption set forth in Section 402(3)(i) of RIUSA. The
division will recognize manuals published by Fitch Investor
Services, Inc., Moody's Investor Services and Standard & Poor's
Corporation. A copy of Rule R.402(3)-1. is attached.
Other rules in the package outline the registration
provisions and record-keeping requirements for broker-dealers,
investment advisers and securities agents. The rules will become
effective on December 6, 1990.
We will keep you advised of developments.
Patricia Louie
Assistant General Counsel
Attachment