March 17, 1992
TO: STATE LIAISON COMMITTEE NO. 10-92
UNIT INVESTMENT TRUST COMMITTEE NO. 16-92
RE: LEGISLATION TO INCREASE REGISTRATION FEE IN MARYLAND
INTRODUCED
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Legislation has been introduced in the Maryland House of
Delegates to increase the fee for registration of a definite
amount of securities. The proposed legislation increases the
minimum fee to $500 and the maximum fee to $1,500. Currently,
the minimum fee is $100 and the maximum fee is $500.
Please be aware that the fee increase is for registration
of a definite amount of securities only. As you know, pursuant
to Section 11-510.1 of the Maryland Securities Act, an investment
company may register an indefinite amount of securities by paying
a filing fee of $100 and within six months of its fiscal year
end, pay a fee of $650 or submit a sales report and pay a fee of
1/10th of one percent of the amount actually sold in Maryland
(minimum fee $100, maximum fee $400).
A copy of House Bill 1406 is attached. We will keep you
advised of developments.
Patricia Louie
Assistant General Counsel
Attachment