Legislation in 1931 authorized the State Securites Commission to promulgate rules and regulations as necessary to carry out duties of the Securities Act. The rules are designed to produce uniformity of practice before the Commission and to eliminate the practice by applicants of trying to obtain commitments from the Commission in connection with proposed applications before filing the actual applications to be decided. Examination of the rules should eliminate much correspondence concerning procedure and policies of the commission and also enable the Commission to perform its administrative functions more effectively. The series shows the Commission's attempt to provide protection to investors while minimally regulating honest business. Duties of the Commission were conferred upon the Attorney General in 1935. The office was later designated State Securities Commissioner. Similar rules and regulations were created by the State Securities Commission.
