02-029 C.M.R. ch. 129, § 3 - General authorization for third party brokerage arrangements
1.
Authorization for financial
institutions. A financial institution may enter into third party
brokerage arrangements to facilitate the sale of securities, subject to
provisions of this rule.
2.
Authorization for financial institutions authorized to do business in
this State. A financial institution authorized to do business in this
State may enter into third party brokerage arrangements and qualify for the
exclusion from the definition of "broker-dealer " pursuant to
32 M.R.S.A.
§16102(4)(C), if the
financial institution authorized to do business in this State complies with
Sections
5 and
6 of this rule.
Notes
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