47-31B-406 Registration by broker-dealer, agent, investment adviser, and investment adviser represent...
Registration by broker-dealer, agent, investment adviser, and investment adviser
(a) Application for initial registration. A person shall register as a broker-dealer,
agent, investment adviser, or investment adviser representative by filing an application and a consent
to service of process complying with § 47-31B-611, and paying the fee specified in § 47-31B-410
and any reasonable fees charged by the designee of the director for processing the filing. The
application must contain:
The information or record required for the filing of a uniform application; and
Upon request by the director, any other financial or other information or record that the
director determines is appropriate.
(b) Amendment. If the information or record contained in an application filed under subsection
(a) is or becomes inaccurate or incomplete in a material respect, the registrant shall promptly file a
(c) Effectiveness of registration. If an order is not in effect and a proceeding is not pending under
§ 47-31B-412, registration becomes effective at noon on the forty-fifth day after a completed
application is filed, unless the registration is denied. A rule adopted or order issued under this
chapter may set an earlier effective date or may defer the effective date until noon on the forty-fifth
day after the filing of any amendment completing the application.
(d) Registration renewal. A registration is effective until midnight on December thirty-first of
the year for which the application for registration is filed. Unless an order is in effect under § 47-31B-412, a registration may be automatically renewed each year by filing such records as are
required by rule adopted or order issued under this chapter, by paying the fee specified in § 47-31B-410, and by paying costs charged by the designee of the director for processing the filings.
(e) Additional conditions or waivers. A rule adopted or order issued under this chapter may
impose such other conditions, not inconsistent with the National Securities Markets Improvement
Act of 1996. An order issued under this chapter may waive, in whole or in part, specific requirements
in connection with registration as are in the public interest and for the protection of investors.
Source: SL 2004, ch 278, § 22.