An Act To Make Technical Changes To The Maine Uniform Securities Act And To Clarify The Securities Administrator'S Authority To Grant Licensing Exemptions For Broker-Dealers

Summary

The act requires issuers of nonpublic securities to file a Form D with the state securities administrator within 15 days of the first sale and pay a filing fee, with higher fees for late filings. It also expands the list of broker‑dealers that can be exempt from Maine licensing, allowing the administrator to grant exemptions to any broker‑dealer, not just those without a Maine office. These changes aim to align state rules with federal practice and give the regulator more flexibility.

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