Indiana Code
Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers
23-19-4-4. Investment Adviser Representative Registration; Exemptions; Restrictions on Conducting Business; Referrals

Sec. 4. (a) It is unlawful for an individual to transact business in this state as an investment adviser representative unless the individual is registered under this article as an investment adviser representative or is exempt from registration as an investment adviser representative under subsection (b).
(b) The following individuals are exempt from the registration requirement of subsection (a):
(1) An individual who is employed by or associated with an investment adviser that is exempt from registration under section 3(b) of this chapter or a federal covered investment adviser that is excluded from the notice filing requirements of section 5 of this chapter.
(2) Any other individual exempted by rule adopted or order issued under this article.
(c) The registration of an investment adviser representative is not effective while the investment adviser representative is not employed by or associated with an investment adviser registered under this article or a federal covered investment adviser that has made or is required to make a notice filing under section 5 of this chapter.
(d) An individual may transact business as an investment adviser representative for more than one (1) investment adviser or federal covered investment adviser unless a rule adopted or order issued under this article prohibits or limits an individual from acting as an investment adviser representative for more than one (1) investment adviser or federal covered investment adviser.
(e) It is unlawful for an individual acting as an investment adviser representative, directly or indirectly, to conduct business in this state on behalf of an investment adviser or a federal covered investment adviser if the registration of the individual as an investment adviser representative is suspended or revoked or the individual is barred from employment or association with an investment adviser or a federal covered investment adviser by an order under this article, the Securities and Exchange Commission, or a self-regulatory organization. Upon request from a federal covered investment adviser and for good cause, the commissioner, by order issued, may waive, in whole or in part, the application of the requirements of this subsection to the federal covered investment adviser.
(f) An investment adviser registered under this article, a federal covered investment adviser that has filed a notice under section 5 of this chapter, or a broker-dealer registered under this article is not required to employ or associate with an individual as an investment adviser representative if the only compensation paid to the individual for a referral of investment advisory clients is paid to an investment adviser registered under this article, a federal covered investment adviser who has filed a notice under section 5 of this chapter, or a broker-dealer registered under this article with which the individual is employed or associated as an investment adviser representative.
As added by P.L.27-2007, SEC.23.

Structure Indiana Code

Indiana Code

Title 23. Business and Other Associations

Article 19. Indiana Uniform Securities Act

Chapter 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers

23-19-4-1. Broker-Dealer Registration; Exemptions; Restrictions on Employment or Association; Foreign Transactions

23-19-4-2. Agent Registration; Exemptions; Restrictions on Employment or Association; Restrictions if No Affiliation

23-19-4-3. Investment Adviser Registration; Exemptions; Restrictions on Employment or Association

23-19-4-4. Investment Adviser Representative Registration; Exemptions; Restrictions on Conducting Business; Referrals

23-19-4-5. Federal Covered Investment Adviser Requirements; Exemptions; Filing

23-19-4-6. Application for Initial Registration; Requirements; Amendments; National Criminal History Background Check for Investment Adviser Representative; Effective Date; Renewal; Conditions and Waivers

23-19-4-7. Succession; Organization Change; Name Change; Change of Control

23-19-4-8. Termination Notice; Transfer of Employment or Association; Temporary Registration; Prevention or Suspension of Transfer; Cancellation or Termination of Registration; Reinstatement

23-19-4-9. Withdrawal of Registration

23-19-4-10. Fees; Transmittal of Fee; Exception

23-19-4-11. Minimum Financial Requirements; Financial Reports; Amendment; Records; Audits or Inspections; Insurance or Posting Bond; Supervision; Continuing Education; Compliance Reports

23-19-4-11.5. Prohibit Selection of Broker-Dealer for Completion of Compliance Report in Consecutive Years; Prohibit Selection of Certain Offices

23-19-4-12. Denial, Condition, Revocation, Suspension, or Limitation of Registration; Censure, Bar, or Civil Penalty for Violation; Grounds; Examination; Procedure

23-19-4-13. Third Party Solicitor; Required Written Disclosures; Restrictions; Exemptions