1716                             Joint Resolutions

and to make recommendations as to the advisability of the adop-
tion of a uniform securities act, which would bring the Maryland
law into conformity with the laws of other states and would
more adequately safeguard the welfare of the citizens of this
State by keeping a check on the sales of securities therein.

Whereas, the present Blue Sky Law has not been substantially
changed since its passage in 1937; and

Whereas, during the interval from 1937 until the present time,
there has been a sizable increase in the number of securities dealers
in the State and in the dollar amount of securities sold to citizens
thereof; and

Whereas, the present law, because of its antiquity, is not ade-
quate to provide the proper curbs and safeguards for the sale of
securities in Maryland; and

Whereas, there has been a concerted movement by many states
to adopt a uniform securities act; and

Whereas, the staff and budget of the office of the Attorney Gen-
eral do not permit of sufficient administration of this law; now,
therefore be it

Resolved by the General Assembly of Maryland, That the Gover-
nor be and he is hereby authorized and requested to appoint a
Committee to study and determine the adequacy of the present Blue
Sky Law; whether or not it could be more efficiently administered
in some other department of the State which is more closely allied
to the brokerage business, whether it should be in a special depart-
ment set up for the sole purpose of administering this law, or by
the State Law Department through the addition of personnel to
more adequately handle this function; be it further

Resolved, That said Committee submit its report and recommenda-
tions to the Legislative Council and to the General Assembly by
October 1, 1961; be it further

Resolved, That the Governor is hereby requested to include in
his Budget Bill, or to make available out of funds already appro-
priated or to be appropriated, such sums as, in his discretion, will
be sufficient for the necessary expenses of said Committee.

Approved May 3, 1961.

No. 19

(Senate Joint Resolution 18)
Senate Joint Resolution requesting the Governor to appoint a study

Explanation: Italics indicate new matter added to existing law,

[Brackets] indicate matter stricken from existing law.

CAPITALS indicate amendments to bill.

Strike out indicates matter stricken out of bill.