A. 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. 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:
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 clients that are residents in this state in addition to those specified under paragraph 1 of this subsection; and
3. Any other person excluded by rule adopted or order issued under this act.
C. A person acting as a federal covered investment adviser, not excluded under subsection B of this section, shall file a notice containing a consent to service of process complying with Section 1-611 of this title, such records as have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940 required by rule or order under this act, and the fee specified in Section 1-612 of this title.
D. The notice under subsection C of this section becomes effective upon its filing and expires at midnight on December 31 each year.
Added by Laws 2003, c. 347, § 22, eff. July 1, 2004. Amended by Laws 2022, c. 77, § 23, eff. Nov. 1, 2022.
Structure Oklahoma Statutes
§71-1-103. References to federal statutes.
§71-1-104. References to federal agencies.
§71-1-105. Electronic records and signatures.
§71-1-202. Exempt transactions.
§71-1-203. Additional exemptions and waivers.
§71-1-204. Denial, suspension of application, revocation, condition, or limitation of exemptions.
§71-1-301. Securities registration requirement.
§71-1-302. Federal covered security – Notice filing.
§71-1-303. Securities registration by coordination.
§71-1-304. Securities registration by qualification.
§71-1-305. Registration filings.
§71-1-306. Denial, suspension, or revocation of effectiveness of registration statement.
§71-1-307. Waiver or modification.
§71-1-308. Investment certificate issuers - Registration requirements.
§71-1-401. Broker-dealer registration requirement and exemptions.
§71-1-402. Agent registration requirement and exemptions.
§71-1-403. Investment adviser registration requirement and exemptions.
§71-1-404. Investment adviser representative registration requirement and exemptions.
§71-1-405. Federal covered investment adviser registration requirement and exemptions.
§71-1-406. Registration application - Time of becoming effective.
§71-1-407. Succession and change in registration of broker-dealer or investment adviser.
§71-1-410. Postregistration requirements.
§71-1-502. Prohibited conduct in providing investment advice.
§71-1-503. Evidentiary burden.
§71-1-504. Filing of sales and advertising literature.
§71-1-505. Misleading filings.
§71-1-506. Misrepresentations concerning registration or exemption.
§71-1-507. Qualified immunity.
§71-1-508. Violations - Criminal penalties - Administrative fines.
§71-1-602. Investigations and subpoenas.
§71-1-604. Administrative enforcement.
§71-1-605. Rules, forms, orders, interpretative opinions, and hearings.
§71-1-606. Administrative files and opinions.
§71-1-607. Public records - Confidentiality.
§71-1-608. Uniformity and cooperation with other agencies.
§71-1-609. Commission review of order - Judicial review.
§71-1-611. Service of process.
§71-1-613. Availability of data for supervision of personnel - Sharing of data - Confidentiality.
§71-1-701. Application of act to existing proceedings and rights.
§71-416. Statutory procedure must be followed.
§71-417. Discrimination prohibited.
§71-418. Copies of information to be filed with certain regulatory bodies.
§71-419. Liabilities, remedies and penalties.
§71-420. Rules and regulations.
§71-454. Solicitation materials - Filing - Prohibited use.
§71-455. Fraudulent, deceptive and manipulative acts prohibited.
§71-456. Actions of offeror - Limitations.
§71-457. Powers of Administrator - Rules and forms - Exemptions from act.
§71-459. Violations - Cease and desist orders - Injunctions.
§71-460. Violations - Penalty - Evidence.
§71-461. Liability of offeror - Rights and remedies of seller.
§71-462. Application of provisions of Oklahoma Securities Act.
§71-621. Registration - Violations.
§71-623. Additional exemptions.
§71-625. Application for registration.
§71-626. Public offering statements - Contents - Violations - Uses.
§71-627. Orders - Application for registration - Filing of documents and information.
§71-628. Denial of effectiveness to, suspension or revocation of effectiveness of registration.
§71-631. License required - Exemption.
§71-633. Records - Copies - Inspection - Rules.
§71-642. Liens and encumbrances.
§71-643. Contracts - Voiding - Rescinding - Revoking.
§71-644. Notice to purchaser - Signatures - Rescission of contract.
§71-651. Administration of Code - Personal use of information - Privileges and immunities.
§71-654. Fraud - Filing of documents and information.
§71-655. Presumptions - Fraud - Violations.
§71-656. Power and duties of Administrator.
§71-657. Injunctions - Intervention in suits involving subdivided land.
§71-658. Violation of Code - Fine.
§71-659. Liability to purchaser - Persons liable - Limitation of actions.
§71-660. Summary prohibition of offers or dispositions.
§71-662. Rules, forms and orders - Making, amending or rescinding - Exemption from liability.
§71-663. Filing of documents - Register - Inspection - Copies - Interpretative opinions.
§71-664. Consent to service of process - Service.
§71-665. Dispositions and offers - Application of law - Acceptance.
§71-666. Liens and encumbrances.
§71-804. Denial or revocation of exemption - Orders and violation thereof.
§71-805. Burden of proving exemption.
§71-806. Certain sales unlawful.
§71-807. Registration procedure.
§71-809. Contracts or agreements required - Contents.
§71-810. Suspension or revocation of registration - Grounds - Procedure.
§71-811. Minimum net worth requirement.
§71-812. Administration of act - Use of disclosure of information.
§71-813. Investigations and proceedings - Powers and duties of Administrator.
§71-814. Violation of act - Orders - Penalties.
§71-816. Rules, forms and orders - Making, amending and rescinding.
§71-819. Fraud or deceit unlawful.
§71-820. False or misleading statements unlawful.
§71-821. Conclusiveness of filed document.
§71-822. Misleading advertising unlawful.
§71-823. Violations - Penalty - Criminal prosecutions.
§71-824. Violations - Civil actions.
§71-825. Aiding and abetting violation.
§71-828. Oklahoma Securities Act - Application.
§71-829. Fees and charges - Deposits.
§71-903. Rules governing registration in beneficiary form.
§71-905. Origination of registration in beneficiary form.
§71-906. Form of registration.
§71-907. Effect of registration.
§71-908. Ownership on death - Rights of creditors.
§71-909. Protections for registering entity.
§71-910. Nonprobate transfer - Liability of transferees.