S-1387.2                   _______________________________________________

                                            SUBSTITUTE SENATE BILL 5181

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State of Washington                              53rd Legislature                             1993 Regular Session

By Senate Committee on Labor & Commerce (originally sponsored by Senator Moore)

Read first time 02/22/93.

Requiring securities advisers to provide a copy of new account forms.

          AN ACT Relating to securities advisers disclosures; and adding a new section to chapter 21.20 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 21.20 RCW to read as follows:

          It is unlawful for a broker-dealer or investment advisor to not provide an exact copy of a customer new account form or investment advisory contract to the customer within thirty days of the account's opening or subsequent revision to the form or contract.  This section applies to those forms, contracts, or revisions that affect the customer's rights or that contain information about the customer's written investment objectives so that the customer has the opportunity to have notice of the rights or verify the information.

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