RSA 421-B:4-405 · Federal Covered Investment Adviser Notice Filing Requirement

421-B:4-405 Federal Covered Investment Adviser Notice Filing Requirement. –

Copy link

(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).

Copy link

(b)

Notice filing requirement not required. The following federal covered investment advisers are not required to comply with subsection (c):

Copy link

(1)

a federal covered investment adviser without a place of business in this state if its only clients in this state are:

Copy link

(A)

federal covered investment advisers, investment advisers registered under this chapter, and broker-dealers registered under this chapter;

Copy link

(B)

institutional investors;

Copy link

(C)

bona fide preexisting clients whose principal places of residence are not in this state; or

Copy link

(D)

other clients specified by order issued under this chapter;

Copy link

(2)

any other person excluded by order issued under this chapter.

Copy link

(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 RSA 421-B:6-611, and such records as have been filed with the SEC under the Investment Advisers Act of 1940 required by order issued under this chapter and pay the fees specified in RSA 421-B:4-410(c). Initial fees shall be paid before business is transacted in this state, and annual fees shall be paid on or before December 31 of the current year for the ensuing year. Federal covered advisers shall submit copies to the secretary of state of all documents filed with the SEC pursuant to the federal securities laws within 10 business days of their submission to the SEC. Documents and fees that are accepted by IARD may be submitted through IARD. Other documents filed or deemed filed with the SEC shall be submitted directly to the secretary of state.

Copy link

(d)

Effectiveness of filing. The notice under subsection (c) becomes effective upon its filing. Source. 2015, 273:1, eff. Jan. 1, 2016.

Copy link