EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb0917*
HOUSE BILL 917
C1 5lr3301
By: Delegate Amprey
Introduced and read first time: January 31, 2025
Assigned to: Economic Matters
A BILL ENTITLED
AN ACT concerning 1
Corporations and Associations – Maryland Securities Act – Filing Fees 2
FOR the purpose of increasing the fee that a person required to submit a filing in 3
accordance with a certain exemption is required to pay; increasing the fee that a 4
person required to submit a notice of offer or sale of certain federal covered securities 5
is required to pay; requiring a person required to submit a certain notice of offer or 6
sale of certain federal covered securities to pay a certain fee for each amended filing; 7
and generally relating to filing fees required under the Maryland Securities Act. 8
BY repealing and reenacting, with amendments, 9
Article – Corporations and Associations 10
Section 11–506 11
Annotated Code of Maryland 12
(2014 Replacement Volume and 2024 Supplement) 13
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 14
That the Laws of Maryland read as follows: 15
Article – Corporations and Associations 16
11–506. 17
(a) Except as provided in § 11–510.1 of this subtitle, a person filing an application 18
to register securities shall pay a fee of 0.1 percent of the maximum aggregate offering price 19
at which the securities are to be offered in this State, but the fee may not be less than $500 20
or more than $1,500. 21
(b) (1) Except as provided in paragraph (2) of this subsection, a person 22
required to submit a filing in accordance with an exemption granted under this title shall 23
pay a fee of $400 for each filing. 24
2 HOUSE BILL 917
(2) A person required to submit a filing in accordance with the exemption 1
granted under § 11–601(16) of this title shall pay a fee of [$100] $250 for each filing. 2
(3) A person required to submit a notice of the offer or sale of federal 3
covered securities under § 11–503.1(c) of this subtitle shall pay: 4
(i) A fee of [$100] $250 for [each] THE INITIAL filing; [and] 5
(ii) A FEE OF $300 FOR EACH AMENDED FILING; AND 6
(III) An additional fee of $150 for each filing made after the filing due 7
date. 8
(c) The Commissioner shall retain the fee, if: 9
(1) An application to register securities is withdrawn before the effective 10
date; 11
(2) A notice of the offer or sale of a federal covered security is withdrawn; 12
or 13
(3) A preeffective stop order is entered under §§ 11–511 through 11–513 of 14
this subtitle. 15
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 16
October 1, 2025. 17