Missouri Laws 409.4-405 – Federal covered investment adviser notice filing requirement
(a) 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).
(b) The following federal covered investment advisers are not required to comply with subsection (c):
Terms Used In Missouri Laws 409.4-405
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(1) A federal covered investment adviser without a place of business in this state if its only clients in this state are:
(A) Federal covered investment advisers, investment advisers registered under this act, and broker-dealers registered under this act;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of residence are not in this state; or
(D) Other clients specified by rule adopted or order issued under this act;
(2) A federal covered investment adviser without a place of business in 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 to those specified under paragraph (1); and
(3) Any other person excluded by rule adopted or order issued under this act.
(c) 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 section 409.6-611, and such records as have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940 required by rule adopted or order issued under this act and pay the fees specified in section 409.4-410(e).
(d) The notice under subsection (c) becomes effective upon its filing, and shall expire on December thirty-first each year, unless renewed.