HB 18-38: Young Traders Act (Passed)
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  HB 18-38: Young Traders Act (Passed)		 « previous next »
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Author Topic: HB 18-38: Young Traders Act (Passed)  (Read 1130 times)
fhtagn
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« Reply #25 on: June 19, 2019, 09:43:26 AM »
I don't really think that this is something we should be trusting minors to get involved in without more parental guidance. While I appreciate what Representatives lfromnj is trying to do, it's just not something I can support. No objections to the final vote, btw.
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Esteemed Jimmy
Jimmy7812
Junior Chimp
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« Reply #26 on: June 20, 2019, 01:33:45 PM »
A final vote has begun on this bill. Please vote AYE, NAY, or ABSTAIN.

Quote
Young Traders Act

To open the stock market to the youth.

Quote
Section 1. Short title

This Act shall be cited as the “Young Traders Act”.

Section 2: Lowering the age to buy stocks

(a) In general. -

The minimum age to open a special youth stock market account shall be lowered to 16.

(b) Restrictions. -

(1) A youth stock market account will not have full function of purchasing and will only be allowed to purchase up to $500 worth of stocks per month, although selling all the stocks at once will be allowed.
(2) Brokers may not give special options that increases risk such as selling on margin or selling short.

(c) Losses. -

Brokers will not be held responsible for any losses due to trades.

(d) Exceptions. -

Nothing stated in this Act shall prevent private brokers from setting their own age restriction stated that is above the age of 16.

Section 3. Implementation

This Act shall take effect immediately after passage.
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Esteemed Jimmy
Jimmy7812
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E: 2.47, S: -1.05

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« Reply #27 on: June 20, 2019, 01:34:12 PM »
Aye
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JGibson
Junior Chimp
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« Reply #28 on: June 20, 2019, 02:34:37 PM »
AYE
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lfromnj
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« Reply #29 on: June 20, 2019, 02:55:14 PM »
Aye. Made the bill and it hasn't changed from the original meaning by much. Should be good for young adults to learn something.
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alancia
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Argentina


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E: 0.77, S: -0.35

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« Reply #30 on: June 20, 2019, 03:52:28 PM »
Aye
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#TheShadowyAbyss
TheShadowyAbyss
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« Reply #31 on: June 20, 2019, 06:06:40 PM »
Aye
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fhtagn
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« Reply #32 on: June 20, 2019, 06:08:33 PM »
Nay
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Esteemed Jimmy
Jimmy7812
Junior Chimp
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« Reply #33 on: June 20, 2019, 07:04:46 PM »
With a majority of representatives voting to pass this bill, the vote will close in 24 hours and any Representative who wishes to change his or her vote must do so during that interval.
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P. Clodius Pulcher did nothing wrong
razze
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« Reply #34 on: June 20, 2019, 07:12:45 PM »
Abstain
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Coastal Elitist
Tea Party Hater
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« Reply #35 on: June 21, 2019, 09:14:52 AM »
Abstain
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Esteemed Jimmy
Jimmy7812
Junior Chimp
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United States
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E: 2.47, S: -1.05

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« Reply #36 on: June 21, 2019, 07:34:23 PM »
Voting has closed. The final vote stands as:

Aye: 5 (Alancia, JGibson, Jimmy7812, lfromnj, TheShadowyAbyss)
Nay: 1 (fhtagn)
Abstain: 2 (azze, Tea Party Haterr)
Missed: 1 (MB)

Therefore, voting has closed and this bill passes 5-1-2-1.
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Esteemed Jimmy
Jimmy7812
Junior Chimp
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Posts: 7,406
United States
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E: 2.47, S: -1.05

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« Reply #37 on: June 21, 2019, 07:35:55 PM »
Quote
Young Traders Act

To open the stock market to the youth.

Quote
Section 1. Short title

This Act shall be cited as the “Young Traders Act”.

Section 2: Lowering the age to buy stocks

(a) In general. -

The minimum age to open a special youth stock market account shall be lowered to 16.

(b) Restrictions. -

(1) A youth stock market account will not have full function of purchasing and will only be allowed to purchase up to $500 worth of stocks per month, although selling all the stocks at once will be allowed.
(2) Brokers may not give special options that increases risk such as selling on margin or selling short.

(c) Losses. -

Brokers will not be held responsible for any losses due to trades.

(d) Exceptions. -

Nothing stated in this Act shall prevent private brokers from setting their own age restriction stated that is above the age of 16.

Section 3. Implementation

This Act shall take effect immediately after passage.

Passed in the House of Representatives 5-1-2-1
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