Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 638 (Substitute of Senate Bill No. 163 by Senator Martiny)
BY SENATOR MARTINY
AN ACT1
To enact R.S. 51:704(A)(10), relative to securities; to authorize the taking of certain actions2
relative to dishonest or unethical practices; to provide relative to the adoption of3
administrative rules; to provide certain terms and conditions; and to provide for4
related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 51:704(A)(10) is hereby enacted to read as follows: 7
ยง704. Suspension or revocation of registration of dealers, salesmen, investment8
advisers, and investment adviser representatives; requiring current9
financial statements10
A. The registration of any dealer, salesman, investment adviser, or investment11
adviser representative may be suspended or revoked by the commissioner as12
provided in Subsection B of this Section if he finds that such registrant and, in the13
case of a dealer or investment adviser, any general partner, limited partner, director,14
managing member, affiliate, or executive officer of such dealer or investment15
adviser:16
* * *17
(10) Has engaged in dishonest or unethical practices in activity regulated18
under the provisions of this Part. The commissioner shall adopt rules and19
regulations in accordance with the Administrative Procedure Act to illustrate20
examples of such practices providing grounds for suspension or revocation of21
registration. Such examples shall be for illustrative purposes only and shall not22
be deemed exclusive.23 SB NO. 638 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Section 2. This Act shall become effective upon signature by the governor or, if not1
signed by the governor, upon expiration of the time for bills to become law without signature2
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If3
vetoed by the governor and subsequently approved by the legislature, this Act shall become4
effective on the day following such approval.5
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: