SEC. 75-71-307. Application for registration.
A broker-dealer, agent, investment adviser or investment adviser representative may obtain an initial or renewal registration by filing with the Secretary of State or his designee an application, together with a consent to service of process pursuant to Section 75-71-701. The application shall contain whatever information the Secretary of State by rule requires concerning such matters as (1) the applicant's form and place of organization; (2) the applicant's proposed method of doing business; (3) the qualifications and business history of the applicant; in the case of a broker-dealer or investment adviser, the qualifications and business history of any partner, officer or director, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the broker-dealer or investment adviser; (4) any injunction or administrative order or conviction of a misdemeanor involving a security or any aspect of the securities business and any conviction of a felony; and (5) the applicant's financial condition and history.
SOURCES: Laws, 1981, ch. 521, Sec. 202; 1987, ch. 477, Sec. 8; 1990, ch. 352, Sec. 4, eff from and after passage (approved March 12, 1990).
1997 Amendment:
SECTION 7. Section 75-71-307, Mississippi Code of 1972, is amended as follows:
75-71-307. A broker-dealer, agent, investment adviser or investment adviser representative may obtain an initial or renewal registration by filing with the Secretary of State or his designee an application, together with a consent to service of process pursuant to Section 75-71-701. The application shall contain whatever information the Secretary of State by rule requires concerning such matters as (1) the applicant's form and place of organization; (2) the applicant's proposed method of doing business; (3) the qualifications and business history of the applicant; in the case of a broker-dealer or investment adviser, the qualifications and business history of any partner, officer or director, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the broker-dealer or investment adviser; (4) any injunction or administrative order or conviction of a misdemeanor involving a security or any aspect of the securities business and any conviction of a felony; and (5) the applicant's financial condition and history.
Except with respect to advisers whose only clients are those described in Section 75-71-105(g)(8) of this chapter, it is unlawful for any federal covered adviser to conduct advisory business in this state unless, prior to acting as a federal covered adviser in this state, such person files such documents as have been filed with the United States Securities and Exchange Commission with the Secretary of State, as the Secretary of State may by rule or otherwise require, and a fee and consent to service of process, as the Secretary of State, by rule or otherwise, may require. Notwithstanding the foregoing, until October 10, 1999, the Secretary of State may require the registration of a federal covered adviser if the adviser fails to promptly pay the fee required by this chapter or rule promulgated under this chapter.
SOURCE: 1997 Laws, Chapter 480, Sec. 7, HB1124, Effective AP-March 27, 1997.