44-3181. Fees; penalties; abandonment
A. The annual nonrefundable license fee for each licensed investment adviser and
investment adviser representative and the annual nonrefundable notice filing fee for each
federal covered adviser shall be paid to the commission on or before the last working day
of December. The annual nonrefundable license fee for each investment adviser and the
annual nonrefundable notice filing fee prescribed in section 44-3153, subsection F are
two hundred fifty dollars and the annual nonrefundable license fee for each investment
adviser representative is forty dollars.
B. An investment adviser that fails to timely renew an annual investment adviser or
investment adviser representative license or notice filing shall pay a penalty of
twenty-five dollars per business day until the appropriate documents and fee are filed,
up to a maximum of forty business days. Failure to timely renew is not a violation of
section 44-3151 if the license or notice filing fee and penalty are paid within forty
business days. Failure to renew within forty business days may result in additional
sanctions as provided in this chapter.
C. The transfer fee for an investment adviser representative transferring that
investment adviser representative's license from one investment adviser to another
investment adviser is forty dollars.
D. All applications, withdrawals, terminations, transfers, renewals or other
filings with the IARD shall be on the forms required by the IARD and shall be accompanied
by any reasonable costs charged by the IARD for processing the filings. Any person who is
required to pay a fee pursuant to this section may transmit the fee to the commission
through the IARD.
E. The commission shall retain any notice filing or licensure fees that are
collected in connection with abandoned applications or notice filings. A notice filing or
an application for licensure is deemed abandoned if both:
1. The notice filing or application has been on file with the commission for at
least six months or the applicant or notice filer has failed to respond to a request for
information for at least two months after the date of the request.
2. The applicant or notice filer has failed to respond to the commission's notice
of warning of abandonment within sixty calendar days after the date of the warning.
F. The fee for submitting fingerprints is the fee that is required by the federal
government and the department of public safety.
|