17-12a407. Succession and change in registration of broker-dealer or investment adviser. (a) Succession. A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of an investment adviser or notice filing of another federal covered investment adviser, by filing as a successor an application for registration pursuant to K.S.A. 17-12a401 or 17-12a403, and amendments thereto, or a notice pursuant to K.S.A. 17-12a405, and amendments thereto, for the unexpired portion of the current registration or notice filing.
(b) Organizational change. A broker-dealer or investment adviser that changes its form of organization or state of incorporation or organization may continue its registration by filing an amendment to its registration if the change does not involve a material change in its financial condition or management. The amendment becomes effective when filed or on a date designated by the registrant in its filing. The new organization is a successor to the original registrant for the purposes of this act. If there is a material change in financial condition or management, the broker-dealer or investment adviser shall file a new application for registration. A predecessor registered under this act shall stop conducting its securities business other than winding down transactions and shall file for withdrawal of broker-dealer or investment adviser registration within 45 days after filing its amendment to effect succession.
(c) Name change. A broker-dealer or investment adviser that changes its name may continue its registration by filing an amendment to its registration. The amendment becomes effective when filed or on a date designated by the registrant.
(d) Change of control. A change of control of a broker-dealer or investment adviser may be made in accordance with a rule adopted or order issued under this act.
History: L. 2004, ch. 154, ยง 24; July 1, 2005.
Structure Kansas Statutes
Article 12a - Uniform Securities Act
17-12a,103 References to federal statutes.
17-12a,104 References to federal agencies.
17-12a,105 Electronic records and signatures.
17-12a,202 Exempt transactions.
17-12a,203 Additional exemptions and waivers.
17-12a,204 Denial, suspension, revocation, condition or limitation of exemptions.
17-12a,205 Exemption filing fees.
17-12a,301 Securities registration requirement.
17-12a,303 Securities registration by coordination.
17-12a,304 Securities registration by qualification.
17-12a,305 Securities registration filings.
17-12a,306 Denial, suspension and revocation of securities registration.
17-12a,307 Waiver and modification.
17-12a,401 Broker-dealer registration requirement and exemptions.
17-12a,402 Agent registration requirement and exemptions.
17-12a,403 Investment adviser registration requirement and exemptions.
17-12a,404 Investment adviser representative registration requirement and exemptions.
17-12a,405 Federal covered investment adviser notice filing requirement.
17-12a,407 Succession and change in registration of broker-dealer or investment adviser.
17-12a,411 Postregistration requirements.
17-12a,502 Prohibited conduct in providing investment advice.
17-12a,503 Evidentiary burden.
17-12a,504 Filing of sales and advertising literature.
17-12a,505 Misleading filings; coercion; obstruction.
17-12a,506 Misrepresentations concerning registration or exemption.
17-12a,507 Qualified immunity.
17-12a,508 Criminal penalties; statute of limitations.
17-12a,601 Administration; investor education and protection fund.
17-12a,602 Investigations and subpoenas.
17-12a,604 Administrative enforcement.
17-12a,605 Rules, forms, orders, interpretive opinions and hearings.
17-12a,606 Administrative files and opinions.
17-12a,607 Public records; confidentiality.
17-12a,608 Uniformity and cooperation with other agencies.
17-12a,611 Service of process.
17-12a,612 Severability clause.
17-12a,703 Repeals; application of act to existing proceeding and existing rights and duties.