44-3153

44-3153. Application for licensure as
investment adviser; notice filings by federal covered
advisers

A. Any person may apply for licensure as an investment adviser. The applicant shall
sign an application for licensure.

B. An application for licensure as an investment adviser shall be filed with the
commission through the IARD. If the IARD does not provide for receipt of a filing, the
filing may be made with the commission by mail or any other method that is reasonably
acceptable to the commission.

C. An application for licensure shall contain the following, together with other
information the commission prescribes:

1. A completed uniform application for investment adviser registration under the
investment advisers act of 1940 together with other forms designated by the director.

2. Proof of compliance with written examination requirements.

3. Financial reports as required by the commission.

4. A notarized affidavit of any officer, director, partner, member, trustee or
manager of the applicant that states:

(a) That a review of the records of the investment adviser has been conducted.

(b) Whether any investment adviser activity has been conducted with residents of
this state before licensure as an investment adviser.

5. If the applicant intends to have a branch office in this state, the address and
name of a contact individual at that branch office.

6. If the applicant is an individual and the applicant's fingerprints are not on
file with the division, the CRD system or the IARD, a full set of fingerprints. The
commission shall submit the fingerprints to the department of public safety for the
purpose of obtaining a state and federal criminal records check pursuant to section
41-1750 and Public Law 92-544. The department of public safety may exchange this
fingerprint data with the federal bureau of investigation.

D. An application for licensure as an investment adviser shall be accompanied by
payment of the licensure fee prescribed in section 44-3181.

E. A federal covered adviser may transact business in this state as an investment
adviser if the federal covered adviser makes a notice filing with the commission through
the IARD. If the IARD does not provide for receipt of a filing, the filing may be made
with the commission by mail or any other method that is reasonably acceptable to the
commission.

F. The notice filing shall consist of all of the following:

1. Copies of those documents that are filed with the SEC and that the commission
requires to be filed.

2. A consent to service of process.

3. A notice filing fee as prescribed in section 44-3181.

G. A notice filing is effective on compliance with the requirements of subsection E
of this section and remains effective until December 31 unless it is renewed before that
time by filing with the commission any renewal documents prescribed by the commission
along with the notice filing fee prescribed in section 44-3181.

H. A federal covered adviser may terminate a notice filing by notifying the
commission of that termination through the IARD. If the IARD does not provide for receipt
of a filing, the filing may be made with the commission by mail or any other method that
is reasonably acceptable to the commission.