Maine Revised Statutes Title 32 Sec. 16807 – Immunity for delaying disbursements
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Terms Used In Maine Revised Statutes Title 32 Sec. 16807
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Maine Revised Statutes Title 32 Sec. 16102
- Investment adviser: includes a financial planner or other person that, as an integral component of other financially related services, provides investment advice to others for compensation as part of a business or that holds itself out as providing investment advice to others for compensation. See Maine Revised Statutes Title 32 Sec. 16102
A broker-dealer or investment adviser that in good faith and exercising reasonable care complies with section 16806 is immune from any administrative or civil liability that might otherwise arise from a delay in a disbursement in accordance with section 16806. [PL 2019, c. 17, §1 (NEW).]
SECTION HISTORY
PL 2019, c. 17, §1 (NEW).