17:16A-5 - Officers or agents of foreign investment companies; certificate of authority
17:16A-5.Ā Officers or agents of foreign investment companies; certificate of authority
No officer or agent of any foreign investment corporation shall make, issue,Ā sell, offer for sale, negotiate or guarantee any investment contract orĀ transact any business or act, or aid in any way, in the transaction of any business authorized by a certificate of authority issued to such foreign corporation until he shall have procured from the commissioner a certificate ofĀ authority to do so.Ā The certificate shall state in substance that the corporation is authorized to transact business in this State and that the person named therein is an agent of the company for the transaction of such business.Ā Upon receipt of a certificate from such corporation of its appointment of a suitable person to act as its agent in this State, the commissioner shall, if the facts warrant it, grant such certificate which shallĀ continue in force until May 1 after its issue, and by renewal thereof beforeĀ May 1 of each year until revoked by the commissioner for noncompliance with theĀ laws, or until the appointment of such agent is revoked by written notice fromĀ the corporation to that effect.Ā A certificate may be issued by theĀ commissioner to and in the name of any copartnership or corporation as agentĀ for an investment company upon written request and payment of the $10.00 feeĀ prescribed in section 15 of this chapter;Ā provided, all members of theĀ copartnership or all of the officers of the corporation, as the case may be,Ā actively engaged in the investment company business of the copartnership orĀ corporation in this State hold an unexpired certificate issued in accordanceĀ with the provisions of this act.Ā All certificates outstanding and in force onĀ the effective date of this chapter shall continue in full force and effect until May 1, 1939, unless sooner revoked in the manner above provided.
L.1938, c. 322, p. 820, s. 5.Ā Amended by L.1970, c. 127, s. 2, eff. July 1, 1970.
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No officer or agent of any foreign investment corporation shall make, issue,Ā sell, offer for sale, negotiate or guarantee any investment contract orĀ transact any business or act, or aid in any way, in the transaction of any business authorized by a certificate of authority issued to such foreign corporation until he shall have procured from the commissioner a certificate ofĀ authority to do so.Ā The certificate shall state in substance that the corporation is authorized to transact business in this State and that the person named therein is an agent of the company for the transaction of such business.Ā Upon receipt of a certificate from such corporation of its appointment of a suitable person to act as its agent in this State, the commissioner shall, if the facts warrant it, grant such certificate which shallĀ continue in force until May 1 after its issue, and by renewal thereof beforeĀ May 1 of each year until revoked by the commissioner for noncompliance with theĀ laws, or until the appointment of such agent is revoked by written notice fromĀ the corporation to that effect.Ā A certificate may be issued by theĀ commissioner to and in the name of any copartnership or corporation as agentĀ for an investment company upon written request and payment of the $10.00 feeĀ prescribed in section 15 of this chapter;Ā provided, all members of theĀ copartnership or all of the officers of the corporation, as the case may be,Ā actively engaged in the investment company business of the copartnership orĀ corporation in this State hold an unexpired certificate issued in accordanceĀ with the provisions of this act.Ā All certificates outstanding and in force onĀ the effective date of this chapter shall continue in full force and effect until May 1, 1939, unless sooner revoked in the manner above provided.
L.1938, c. 322, p. 820, s. 5.Ā Amended by L.1970, c. 127, s. 2, eff. July 1, 1970.
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