Okla. Stat. tit. 71, § 71-1-405
This is the official text of Okla. Stat. tit. 71, § 71-1-405, part of Oklahoma’s Stat. tit. 71, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 71,." Browse the sections below, each linked to its official government source.
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Federal covered investment adviser registration
Official statutory text
requirement and exemptions.
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:
a. federal covered investment advisers, investment
advisers registered under this act, and broker-dealers
registered under this act,
Oklahoma Statutes - Title 71. Securities Page 49
b. institutional investors,
c. bona fide preexisting clients whose principal places
of residence are not in this state, or
d. other clients specified by rule adopted or order
issued under this act;
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.
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:
a. federal covered investment advisers, investment
advisers registered under this act, and broker-dealers
registered under this act,
Oklahoma Statutes - Title 71. Securities Page 49
b. institutional investors,
c. bona fide preexisting clients whose principal places
of residence are not in this state, or
d. other clients specified by rule adopted or order
issued under this act;
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.
Status: in_force · Read it on the official government site
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