April 23, 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 #10-44 – Proposed Rule Regarding the Indiana Uniform Securities Act

Dear Representative Pelath:

On behalf of the Indiana Secretary of State, Securities Division, I am submitting this notice to the Administrative Rules Oversight Committee in compliance with IC 4-22-2-19, which requires an agency to begin the rulemaking process not later than sixty (60) days after the effective date of the statute that authorizes the rule.

The Indiana Uniform Securities Act became effective on July 1, 2008, but due to the complexity in drafting the rules, the rulemaking process was not begun within sixty (60) days of the effective date of the statute. However, the rulemaking process has now been initiated. The notice of intent for this rule was published in the Indiana Register on January 27, 2010 (DIN: 20100127-IR-710100044NIA).

Your understanding of these circumstances is greatly appreciated. If you need additional information, please do not hesitate to contact me at 234-2741.

Sincerely,

Jeffrey Bush, Chief Deputy Securities Commissioner

Indiana Secretary of State, Securities Division