Federal covered investment adviser notice filing requirement.
409.4-405. (a) Except with respect to a federal covered investmentadviser described in subsection (b), it is unlawful for a federal coveredinvestment adviser to transact business in this state as a federal coveredinvestment adviser unless the federal covered investment adviser complieswith subsection (c).
(b) The following federal covered investment advisers are notrequired to comply with subsection (c):
(1) A federal covered investment adviser without a place of businessin this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisersregistered under this act, and broker-dealers registered under this act;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of residenceare not in this state; or
(D) Other clients specified by rule adopted or order issued underthis act;
(2) A federal covered investment adviser without a place of businessin this state if the person has had, during the preceding twelve months,not more than five clients that are resident in this state in addition tothose specified under paragraph (1); and
(3) Any other person excluded by rule adopted or order issued underthis act.
(c) A person acting as a federal covered investment adviser, notexcluded under subsection (b), shall file a notice, a consent to service ofprocess complying with section 409.6-611, and such records as have beenfiled with the Securities and Exchange Commission under the InvestmentAdvisers Act of 1940 required by rule adopted or order issued under thisact and pay the fees specified in section 409.4-410(e).
(d) The notice under subsection (c) becomes effective upon itsfiling, and shall expire on December thirty-first each year, unlessrenewed.
Federal covered investment adviser notice filing requirement.
409.4-405. (a) Except with respect to a federal covered investmentadviser described in subsection (b), it is unlawful for a federal coveredinvestment adviser to transact business in this state as a federal coveredinvestment adviser unless the federal covered investment adviser complieswith subsection (c).
(b) The following federal covered investment advisers are notrequired to comply with subsection (c):
(1) A federal covered investment adviser without a place of businessin this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisersregistered under this act, and broker-dealers registered under this act;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of residenceare not in this state; or
(D) Other clients specified by rule adopted or order issued underthis act;
(2) A federal covered investment adviser without a place of businessin this state if the person has had, during the preceding twelve months,not more than five clients that are resident in this state in addition tothose specified under paragraph (1); and
(3) Any other person excluded by rule adopted or order issued underthis act.
(c) A person acting as a federal covered investment adviser, notexcluded under subsection (b), shall file a notice, a consent to service ofprocess complying with section 409.6-611, and such records as have beenfiled with the Securities and Exchange Commission under the InvestmentAdvisers Act of 1940 required by rule adopted or order issued under thisact and pay the fees specified in section 409.4-410(e).
(d) The notice under subsection (c) becomes effective upon itsfiling, and shall expire on December thirty-first each year, unlessrenewed.
Federal covered investment adviser notice filing requirement.
409.4-405. (a) Except with respect to a federal covered investmentadviser described in subsection (b), it is unlawful for a federal coveredinvestment adviser to transact business in this state as a federal coveredinvestment adviser unless the federal covered investment adviser complieswith subsection (c).
(b) The following federal covered investment advisers are notrequired to comply with subsection (c):
(1) A federal covered investment adviser without a place of businessin this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisersregistered under this act, and broker-dealers registered under this act;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of residenceare not in this state; or
(D) Other clients specified by rule adopted or order issued underthis act;
(2) A federal covered investment adviser without a place of businessin this state if the person has had, during the preceding twelve months,not more than five clients that are resident in this state in addition tothose specified under paragraph (1); and
(3) Any other person excluded by rule adopted or order issued underthis act.
(c) A person acting as a federal covered investment adviser, notexcluded under subsection (b), shall file a notice, a consent to service ofprocess complying with section 409.6-611, and such records as have beenfiled with the Securities and Exchange Commission under the InvestmentAdvisers Act of 1940 required by rule adopted or order issued under thisact and pay the fees specified in section 409.4-410(e).
(d) The notice under subsection (c) becomes effective upon itsfiling, and shall expire on December thirty-first each year, unlessrenewed.
