§71-664. Consent to service of process - Service.
510 words·~2 min read·
/ok/title-71-securities/71-664A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Every applicant for registration under this Code shall file with the Administrator, in such form as prescribed by rule, an irrevocable consent appointing the Administrator or successor in office to be his or her attorney to receive service of any lawful process in any noncriminal suit, action or proceeding against the applicant or his or her successor, executor, or administrator which arises under this Code or any rule or order issued hereunder after the consent has been filed, with the same validity as if served personally on the person filing the consent.
The consent need not be filed by a person who has filed a consent in connection with a previous registration which is then in effect. Service may be made by leaving a copy of the process in the office of the Administrator, but is not effective unless the plaintiff, who may be the Administrator in the suit, action, or proceeding instituted by him or her, promptly sends notice of the service and a copy of the process by registered or certified mail to the defendant or respondent at the last address on file with the Administrator, and the plaintiff's affidavit of compliance with this subsection is filed in the case on or before the return of the process, or within such time as the court allows.
B. When any person including any nonresident in this state, engages in conduct prohibited or made actionable by this Code or any rule or order hereunder, and has not filed a consent to service of process under subsection A of this section and personal jurisdiction over the person cannot otherwise be obtained in this state, that conduct shall be considered equivalent to appointment of the
Administrator to be the person's attorney to receive service of any lawful process in any noncriminal suit, action, or proceeding against the person or his or her successor, executor, or administrator which arises out of that conduct and which is brought under this Code or any rule or order hereunder with the same validity as if served on the person personally. Service may be made by leaving a copy of the process in the office of the Administrator, but it is not effective unless the plaintiff, who may be the Administrator in a suit, action, or proceeding instituted by the Administrator, promptly sends notice of the service and a copy of the process by registered or certified mail to the defendant or respondent at the last-known address or takes other steps which are reasonably calculated to give actual notice and the plaintiff's affidavit of compliance with this subsection is filed in the case on or before the return day of the process or within such time as the court allows.
C. When process is served under this section, the court or the Administrator in a proceeding before the Administrator, shall order such continuance as is necessary to afford the defendant or respondent reasonable opportunity to defend. Added by Laws 1977, c. 95, § 664. Amended by Laws 2022, c. 78, § 14, eff. Nov. 1, 2022.