Securities act changes enacted (new law)

A modified name is about the most significant change made by a new law signed May 1 by Gov. Tim Pawlenty.

Sponsored by Rep. Tom Tillberry (DFL-Fridley) and Sen. Dan Sparks (DFL-Austin), the law changes the statutory citation of the Uniform Securities Act to the “Minnesota Securities Act.” It also corrects numerous typos and incorrect cross-references in the law.

Tillberry said the Department of Commerce asked for the changes to the act, which he said provides a framework for regulating the securities industry in Minnesota. The changes are effective May 2, 2008.

HF3306/SF3174*/CH256