SLS 14RS-390 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2014
SENATE BILL NO. 265
BY SENATOR MARTINY
SECURITIES. Provides relative to registration of securities. (gov sig)
AN ACT1
To amend and reenact R.S. 51:705(G), relative to securities; to provide for notice2
requirement for the issuance of a security; to make technical changes; to provide for3
terms and conditions; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 51:705(G) is hereby amended and reenacted to read as follows: 6
ยง705. Registration of securities; when and how required; delivery of prospectus7
* * *8
G. Notice filing for federal covered securities. (1) Prior to the initial offer of9
a federal covered security under Section 18(b)(2) of the federal Securities Act of10
1933, as amended, and for purposes of renewal, the issuer shall make a notice filing11
with the commissioner, consisting of the following:12
(a) A copy of the current registration statement filed by the issuer with the13
United States Securities Exchange Commission.14
(b) A consent to service of process.15
(c) An initial filing fee and an annual renewal fee equal to the fees prescribed16
in R.S. 51:706(A).17 SB NO. 265
SLS 14RS-390 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(2) The commissioner, by rule, may require the issuer of any security that is1
a federal covered security under Section 18(b)(4)(D)(E) of the Securities Act of2
1933, as amended, to make a notice filing no later than fifteen days after the first sale3
in this state of such federal covered security on United States Securities and4
Exchange Commission Form D, together with a consent to service of process and a5
filing fee.6
Section 2. This Act shall become effective upon signature by the governor or, if not7
signed by the governor, upon expiration of the time for bills to become law without signature8
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If9
vetoed by the governor and subsequently approved by the legislature, this Act shall become10
effective on the day following such approval.11
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Michelle Ducharme.
DIGEST
Martiny (SB 265)
Present law provides that the commissioner, by rule, may require the issuer of any security
that is a federal covered security under Section 18(b)(4)(D) of the Securities Act of 1933,
as amended, to make a notice filing no later than 15 days after the first sale in this state of
such federal covered security on United States Securities and Exchange Commission Form
D, together with a consent to service of process and a filing fee.
Proposed law, based on a redesignation of federal law, makes a technical change to the
federal citation in present law from Section 18(b)(4)(D) of the Securities Act of 1933 to
Section 18(b)(4)(E) of the Securities Act of 1933.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 51:705(G))