Arizona Laws 44-3158. Expiration, renewal or transfer of licensure; automatic suspension
A. All licenses expire on December 31 of each year unless renewed before expiration by payment through the IARD of the fees prescribed by section 44-3181. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other reasonable method that is acceptable to the commission.
Terms Used In Arizona Laws 44-3158
- Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
- Federal covered adviser: means an investment adviser registered under the investment advisers act of 1940. See Arizona Laws 44-3101
- IARD: means the investment adviser registration depository operated by the national association of securities dealers. See Arizona Laws 44-3101
- Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Arizona Laws 44-3101
- Investment adviser representative: means any partner, officer or director of an investment adviser, any individual who occupies a status or performs functions similar to a partner, officer or director of an investment adviser or any other individual who is employed by or associated with an investment adviser, except clerical or ministerial personnel, and who does any of the following:
(a) Makes any recommendations or otherwise renders advice regarding securities. See Arizona Laws 44-3101
- Writing: includes printing. See Arizona Laws 1-215
B. An investment adviser representative may transfer that investment adviser representative‘s license to an investment adviser that is either licensed by the commission or that has made a notice filing with the commission by filing a completed application for licensure and remitting a transfer fee to the commission through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other reasonable method that is acceptable to the commission. The license of an investment adviser representative will automatically be suspended from the time of termination of employment with an investment adviser until the investment adviser representative is employed by another licensed or federal covered adviser, the director is notified of the employment by the investment adviser in writing and the investment adviser is notified of approval of the licensure by the director by mail, through the IARD or by any other reasonable method established by the commission or the investment adviser representative has complied with all requirements in accordance with a temporary investment adviser representative transfer program. The commission may adopt rules providing for temporary transfer of licensure of investment adviser representatives.