17-12a405.Federal covered investment adviser notice
filing requirement.
(a) Notice filing requirement. Except with
respect to a federal covered investment adviser described in
subsection (b), it is unlawful for a federal covered investment
adviser to transact business in this state as a federal covered
investment adviser unless the federal covered investment adviser
complies with subsection (c).
(b) Notice filing requirement not required. The following
federal covered investment advisers are not required to comply with
subsection (c):
(1) A federal covered investment adviser without a place of
business in this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisers
registered under this act, and broker-dealers registered under this
act;
(B) institutional investors;
(C) bona fide preexisting clients whose principal places of
residence are not in this state; or
(D) other clients specified by rule adopted or order issued
under this act;
(2) a federal covered investment adviser without a place of
business in this state if it has had, during the preceding 12
months, not more than five clients that are resident in this state
in addition to those specified under paragraph (1); and
(3) any other person excluded by rule adopted or order issued
under this act.
(c) Notice filing procedure. A person acting as a federal
covered investment adviser, not excluded under subsection (b), shall
file a notice, a consent to service of process complying with
K.S.A. 17-12a611, and amendments thereto, and such records as have
been
filed with the securities and exchange commission under the
investment advisers act of 1940 required by rule adopted or order issued under
this act and pay the fees specified in K.S.A. 17-12a410(a)(5), and
amendments thereto.
(d) Effectiveness of filing. The notice under subsection (c)
becomes effective upon its filing, and shall expire on December 31
each year, unless renewed.
History: L. 2004, ch. 154, § 22;
L. 2006, ch. 47, § 4; July 1.
17-12a405.Federal covered investment adviser notice
filing requirement.
(a) Notice filing requirement. Except with
respect to a federal covered investment adviser described in
subsection (b), it is unlawful for a federal covered investment
adviser to transact business in this state as a federal covered
investment adviser unless the federal covered investment adviser
complies with subsection (c).
(b) Notice filing requirement not required. The following
federal covered investment advisers are not required to comply with
subsection (c):
(1) A federal covered investment adviser without a place of
business in this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisers
registered under this act, and broker-dealers registered under this
act;
(B) institutional investors;
(C) bona fide preexisting clients whose principal places of
residence are not in this state; or
(D) other clients specified by rule adopted or order issued
under this act;
(2) a federal covered investment adviser without a place of
business in this state if it has had, during the preceding 12
months, not more than five clients that are resident in this state
in addition to those specified under paragraph (1); and
(3) any other person excluded by rule adopted or order issued
under this act.
(c) Notice filing procedure. A person acting as a federal
covered investment adviser, not excluded under subsection (b), shall
file a notice, a consent to service of process complying with
K.S.A. 17-12a611, and amendments thereto, and such records as have
been
filed with the securities and exchange commission under the
investment advisers act of 1940 required by rule adopted or order issued under
this act and pay the fees specified in K.S.A. 17-12a410(a)(5), and
amendments thereto.
(d) Effectiveness of filing. The notice under subsection (c)
becomes effective upon its filing, and shall expire on December 31
each year, unless renewed.
History: L. 2004, ch. 154, § 22;
L. 2006, ch. 47, § 4; July 1.
17-12a405.Federal covered investment adviser notice
filing requirement.
(a) Notice filing requirement. Except with
respect to a federal covered investment adviser described in
subsection (b), it is unlawful for a federal covered investment
adviser to transact business in this state as a federal covered
investment adviser unless the federal covered investment adviser
complies with subsection (c).
(b) Notice filing requirement not required. The following
federal covered investment advisers are not required to comply with
subsection (c):
(1) A federal covered investment adviser without a place of
business in this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisers
registered under this act, and broker-dealers registered under this
act;
(B) institutional investors;
(C) bona fide preexisting clients whose principal places of
residence are not in this state; or
(D) other clients specified by rule adopted or order issued
under this act;
(2) a federal covered investment adviser without a place of
business in this state if it has had, during the preceding 12
months, not more than five clients that are resident in this state
in addition to those specified under paragraph (1); and
(3) any other person excluded by rule adopted or order issued
under this act.
(c) Notice filing procedure. A person acting as a federal
covered investment adviser, not excluded under subsection (b), shall
file a notice, a consent to service of process complying with
K.S.A. 17-12a611, and amendments thereto, and such records as have
been
filed with the securities and exchange commission under the
investment advisers act of 1940 required by rule adopted or order issued under
this act and pay the fees specified in K.S.A. 17-12a410(a)(5), and
amendments thereto.
(d) Effectiveness of filing. The notice under subsection (c)
becomes effective upon its filing, and shall expire on December 31
each year, unless renewed.
History: L. 2004, ch. 154, § 22;
L. 2006, ch. 47, § 4; July 1.