J. MILLARD TAWES, Governor 31

the plaintiff, who may be the Commissioner in a suit, action, or pro-
ceeding instituted by him, forthwith sends notice of the service and a
copy of the process by registered mail to the defendant or respondent
at his last known address or takes other steps which are reasonably
calculated to give actual notice, and (2) the plaintiff's affidavit of
compliance with this subsection is filed in the case on or before the
return day of the process, if any, or within such further time as the
court allows.

(i) When process is served under this section, the court, or the
Commissioner in a proceeding before him, shall order such con-
tinuance as may be necessary to afford the defendant or respondent
reasonable opportunity to defend.

§ 39. Maryland Blue Sky Advisory Committee.

The Governor shall appoint a Maryland Blue Sky Advisory Com-
mittee which shall consist of six members, all of whom shall be resi-
dents of the State of Maryland, at least two of whom shall be actively
engaged in the securities business or as investment advisers, and at
least two of whom shall be members of the Bar. The members shall
be selected on the basis of their experience and qualifications to advise
the Commissioner on all phases of the securities business. The
members shall be appointed for staggered terms of three years each,
with two members being appointed each year, to serve without com-
pensation and eligible for reappointment for additional terms. The
terms of the first members appointed hereunder shall be designated
by the Governor at the time of their appointment. The members of
the Committee shall select their own chairman. Meetings of the Com-
mittee shall be held when called by the Commissioner. He shall con-
sult with the Committee and it shall give him the benefit of its advice
on any and all matters pertaining to the administration of this act,
particularly the adoption, amendment or repeal of rules, regulations
and forms provided for herein.

§ 40. Transitory Provisions.

(a) Any broker-dealer or agent who, on June 1, 1962, has
filed with the Attorney General a registration statement pursu-
ant to the Maryland Blue Sky Law in effect prior to this act, and
against whom no cease and desist order has been issued by the At-
torney General pursuant to said Blue Sky Law, or who is exempt from
the registration requirements of said Blue Sky Law, and who within
thirty days after the Commissioner shall first publish notice, as in
subsection (b) of this section provided, that forms are available for
registration as a broker-dealer or agent under this act, shall file
with the Commissioner his application for registration under this
act either as a broker-dealer or as agent, accompanied in either case
by the requisite registration fee, shall be entitled to transact his
business in this state until his application for registration under this
act shall have been granted or denied or his registration under this
act shall have terminated. Any person previously registered under
the Blue Sky Law in effect in this state prior to the adoption of this
act or who is exempt from the registration requirements of said Blue
Sky Law shall not be required to publish notice of his initial regis-
tration under this act as otherwise required by section 16 (a) hereof.