Ala. Admin. Code r. 830-X-1-.07

Current through Register Vol. 43, No. 1, October 31, 2024

Section 830-X-1-.07 - Petitions To Initiate Rule-Making Proceedings

(1) All petitions for rule-making proceedings pursuant to Code of Ala. 1975, § 41-22-8, must contain the name and mailing address of the petitioner; text of the rule to be adopted, amended, or repealed; specific grounds and reasons therefor; and the specific action requested.

(2) The Commission, in its consideration of the petition, shall determine if the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of the Alabama Securities Act. If the Commission determines the petition is insufficient, the petition shall be denied with a written statement setting forth the reasons for such denial. If the Commission determines that the petition does set forth sufficient reasons in support of the action requested, the Commission shall issue the appropriate notice and initiate rule-making proceedings in accordance with APA, Section 41-22-5.

Author:

Ala. Admin. Code r. 830-X-1-.07

Filed September 30, 1982. Readopted: Filed November 9, 1983.

Statutory Authority:Code of Ala. 1975, §§ 8-6-23, 41-22-8.