44-3158. Expiration, renewal or transfer of
licensure; automatic suspension
A. All licenses expire on December 31 of each year unless renewed before expiration
by payment through the IARD of the fees prescribed by section 44-3181. If the IARD does
not provide for receipt of a filing, the filing may be made with the commission by mail
or any other reasonable method that is acceptable to the commission.
B. An investment adviser representative may transfer that investment adviser
representative's license to an investment adviser that is either licensed by the
commission or that has made a notice filing with the commission by filing a completed
application for licensure and remitting a transfer fee to 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 reasonable method that is acceptable to the
commission. The license of an investment adviser representative will automatically be
suspended from the time of termination of employment with an investment adviser until the
investment adviser representative is employed by another licensed or federal covered
adviser, the director is notified of the employment by the investment adviser in writing
and the investment adviser is notified of approval of the licensure by the director by
mail, through the IARD or by any other reasonable method established by the commission or
the investment adviser representative has complied with all requirements in accordance
with a temporary investment adviser representative transfer program. The commission may
adopt rules providing for temporary transfer of licensure of investment adviser
representatives.
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