April 15, 2010

Representative Scott Pelath, Chair

Administrative Rules Oversight Committee

c/o Legislative Services Agency

200 West Washington Street, Suite 301

Indianapolis, Indiana 46204-2789

Attn: Sarah Burkman

Re: LSA Document #09-619 – Proposed Rule Regarding the Indiana Uniform Securities Act

Dear Representative Pelath:

On behalf of the Indiana Secretary of State, Securities Division (Division), I am submitting this notice to the Administrative Rules Oversight Committee in compliance with IC 4-22-2-25, because the Division has determined that the promulgation of the captioned rule may not be completed within one year after publication of the Notice of Intent to Adopt a Rule. The Division published its notice of intent in the Indiana Register on August 12, 2009 (DIN: 20090812-IR-710090619NIA).

Due to the complexity of the specific language of the rule and the number of questions we have received prior to the publication of the rule, the process has been delayed, which may result in the lapse of one year. The Division anticipates that the rule will be completed by September 1, 2010, and that it will be approved by the Governor's office no later than December 31, 2010.

This notice setting forth the expected date of approval of LSA Document #09-619 as December 31, 2010, is being submitted in a timely manner. April 19, 2010, is the two hundred fiftieth day after publication of the Notice of Intent to Adopt a Rule.

Sincerely,

Jeffrey Bush, Chief Deputy Securities Commissioner

Indiana Secretary of State, Securities Division