Idaho State Statutes - Idaho Attorney Directory

(a) Notice filing requirement. Except with respect to a federal covered
investment adviser described in subsection (b) of this section, 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) of this section.
(b) Notice filing requirement not required. The following federal covered
investment advisers are not required to comply with subsection (c) of this
section:
(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 chapter, and broker-dealers registered under
this chapter;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of
residence are not in this state; or
(D) Other clients specified by a rule adopted or an order issued
under this chapter;
(2) A federal covered investment adviser without a place of business in
this state if the person has had, during the preceding twelve (12) months,
not more than five (5) clients that are resident in this state in addition
to those specified under subsection (b)(1) of this section; and
(3) Any other person excluded by a rule adopted or an order issued under
this chapter.
(c) Notice filing procedure. A person acting as a federal covered
investment adviser, not excluded under subsection (b) of this section, shall
file a notice, a consent to service of process complying with section
30-14-611, Idaho Code, and such records as have been filed with the securities
and exchange commission under the investment advisers act of 1940 required by
a rule adopted or an order issued under this chapter and pay the fees
specified in section 30-14-410(e), Idaho Code.
(d) Effectiveness of filing. The notice under subsection (c) of this
section becomes effective upon its filing and expires on December thirty-first
of each year unless renewed.

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