2001-S 267A
Enacted 07/13/2001

A  N     A   C   T


Introduced By:  Senator Kevin A. Breene Date Introduced:  February 7, 2001

It is enacted by the General Assembly as follows:

SECTION 1. Section 7-11-211 of the General Laws in Chapter 7-11 entitled "Rhode Island Uniform Securities Act" is hereby amended to read as follows:

7-11-211. Inspection power. -- (a) Without previous notice, the director may examine or investigate in a manner reasonable under the circumstances the records, within or without this state, of a licensed broker dealer, sales representative, investment adviser, or investment adviser representative licensed by the state or entitled to an exemption from licensing as well as any person who may be acting as a broker, dealer, sales representative, investment adviser or investment adviser representative without a license or exemption to engage in such activity(ies) in order to determine compliance with this chapter. Broker dealers, sales representatives, investment advisers, and investment adviser representatives must make their records available to the director in legible form.

(b) The director may copy records or require a licensed person to copy records and provide the copies to the director to the extent and in a manner reasonable under these circumstances.

(c) The director may impose a reasonable fee for the expense of conducting an examination or an investigation under this section.

(d) Upon receipt of a report or complaint, the director may conduct an inspection to

determine whether any violation or unlicensed activity has occurred.

SECTION 2. This act shall take effect upon passage.

As always, your comments concerning this page are welcomed and appreciated.

Thank you for stopping by!