292.332 Notice filing by covered adviser -- Contents -- Exemptions -- Renewal.
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/ky/chapter-292/292-332A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)It is unlawful for a covered adviser to transact business in this state as a covered
adviser unless the covered adviser has made a notice filing under subsection
(2)of
this section or is exempt from the requirement to make a notice filing under
subsection
(3)of this section.
(2)A person transacting business as a covered adviser in this state, who is not exempt
under subsection
(3)of this section, shall make a notice filing consisting of a copy
of those documents filed by the covered adviser with the United States Securities
and Exchange Commission and pay the fee prescribed by this chapter. A notice
filing under this chapter is effective until 12 midnight of December 31 of the year
for which the notice is filed.
(3)The following covered advisers are not required to comply with subsection
(2)of
this section:
(a)A covered adviser who has no place of business in this state if his or her only
clients in this state are investment advisers, covered advisers, broker-dealers,
banks, savings institutions, trust companies, insurance companies, pension or
profit-sharing trusts, or other financial institutions or institutional buyers,
whether acting for themselves or as trustees;
(b)A covered adviser who has no place of business in this state if, during any
period of twelve
(12)consecutive months, he or she does not have more than
five
(5)clients other than those specified in paragraph
(a)of this subsection;
and
(c)Any other covered adviser exempted from making a notice filing by
administrative regulation or order under this chapter.
(4)A notice filing by a covered adviser may be renewed by filing a notice consisting of
any documents filed with the United States Securities and Exchange Commission
and paying the fee prescribed in this chapter.