Idaho State Statutes - Idaho Attorney Directory

REGISTRATION BY BROKER-DEALER, AGENT, INVESTMENT ADVISER, AND
INVESTMENT ADVISER REPRESENTATIVE. (a) Application for initial registration. A
person shall register as a broker-dealer, agent, investment adviser, or
investment adviser representative by filing an application and a consent to
service of process complying with section 30-14-611, Idaho Code, and paying
the fee specified in section 30-14-410, Idaho Code, and any reasonable fees
charged by the designee of the administrator for processing the filing. The
application must contain:
(1) The information or record required for the filing of a uniform
application; and
(2) Upon request by the administrator, any other financial or other
information or record that the administrator determines is appropriate.
(b) Amendment. If the information or record contained in an application
filed under subsection (a) of this section is or becomes inaccurate or
incomplete in a material respect, the registrant shall promptly file a
correcting amendment.
(c) Effectiveness of registration. If an order is not in effect and a
proceeding is not pending under section 30-14-412, Idaho Code, registration
becomes effective at noon on the forty-fifth day after a completed application
is filed, unless the registration is denied. A rule adopted or an order issued
under this chapter may set an earlier effective date or may defer the
effective date until noon on the forty-fifth day after the filing of any
amendment completing the application.
(d) Registration renewal. A registration is effective until midnight on
December thirty-first of the year for which the application for registration
is filed. Unless an order is in effect under section 30-14-412, Idaho Code, a
registration may be automatically renewed each year by filing such records as
are required by a rule adopted or an order issued under this chapter, by
paying the fee specified in section 30-14-410, Idaho Code, and by paying costs
charged by the designee of the administrator for processing the filings.
(e) Additional conditions or waivers. A rule adopted or an order issued
under this chapter may impose such other conditions, not inconsistent with the
national securities markets improvement act of 1996 (110 Stat. 3416). An order
issued under this chapter may waive, in whole or in part, specific
requirements in connection with registration as are in the public interest and
for the protection of investors.

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