Show AMENDMENT TO SECURITIES ACT URGED IN Bill Fixes Salary of Commissioner Commissioner Commis Commis- at Not More Than and Makes Some Changes in Provisions s I Amendments to fo o the state securities 1 j t tics ties commission act are incorporated f r ed in a measure introduced In the I house hose Thursday The salary of the commissioner of ot securities which office Is created is fixed at not more than per year rear The Tho measure provides that any security issued or guaranteed either as to principal interest or dividend by a corporation owning or operating a railroad or any other public service utility shall not apply to the act Investment companies are defined as organizations other than the exempt exempt ex exempt ex- ex empt class mentioned as organizations organizations organizations selling their own or other securities securities securities se se- se- se in Utah or negotiating for forthe forthe forthe the sale of stocks bonds units or investment contracts and subscriptions which are solicited by agents The bill provides that the commission commission com com- mission shall exact from the parties woo who make male application as ag Investment Investment investment Invest invest- ment companies for tor permits to sell securities a bond in the sum of ot 1000 payable parable able to the state The bill bIlI prohibits the advertising of any corporation other than those exempt or exploiting the corporation corporation corporation corpora corpora- tion or company until the permit to transact business has been approved approved approved ap ap- ap- ap proved by bv the commission The bill bilI also provides that every firm institution corporation or association association as association as- as applying to the securities commission for a permit to do business business business busi busi- ness in the state which is subject to examination shall be required to advance funds sufficient to guarantee guarantee guarantee guar guar- antee the expenses connected therewith therewith therewith there there- with before an order of examination will wiH be issued Such moneys shall be deposited In a special fund to the the- credit of the commission a and payable on an order signed by at l least ast two mem members ers of the commission commis commis- sion slon the person making the fhe I commis examination examination examination exam exam- to file a detailed statement of his expenses in duplicate one Copy to be filed with the state board of ot examiners the other with the company examined any excess to tobe tobe tobe be returned to to the company exam exam- ined |