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§ 1-406. Registration application--Time of becoming effective

Oklahoma Statutes AnnotatedTitle 71. SecuritiesEffective: November 1, 2022

Oklahoma Statutes Annotated
Title 71. Securities (Refs & Annos)
Chapter 1. Oklahoma Uniform Securities Act of 2004 (Refs & Annos)
Article 4. Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers
Effective: November 1, 2022
71 Okl.St.Ann. § 1-406
§ 1-406. Registration application--Time of becoming effective
Currentness
A. A person shall register as a broker-dealer, agent, investment adviser, or investment adviser representative by filing an application that contains:
1. The information required for the filing of a uniform application, a consent to service of process complying with Section 1-611 of this title, the fee specified in Section 1-612 of this title and any reasonable fees charged by the designee of the Administrator for processing the filing; and
2. Upon request by the Administrator, any other financial or other information that the Administrator determines is appropriate.
B. If the information contained in an application that is filed under subsection A of this section is or becomes inaccurate or incomplete in any material respect, the registrant shall promptly file a correcting amendment.
C. If an order is not in effect and a proceeding is not pending under Section 1-411 of this title, registration becomes effective at noon on the 45th day after a completed application is filed unless the registration is denied. A rule adopted or order issued under this act may set an earlier effective date or may defer the effective date until noon on the 45th day after the filing of any amendment completing the application.
D. A registration is effective until midnight on December 31 of the year for which the application for registration is filed. Unless an order is in effect under Section 1-411 of this title, a registration may be automatically renewed each year by filing such records as are required by rule adopted or order issued under this act, by paying the fee specified in Section 1-612 of this title, and by paying costs charged by the designee of the Administrator for processing the filings.
E. A rule adopted or order issued under this act may impose such other conditions not inconsistent with the National Securities Markets Improvement Act of 1996.1 An order issued under this act may waive, in whole or in part, specific requirements in connection with registration as are in the public interest and for the protection of investors.

Credits

Laws 2003, c. 347, § 23, eff. July 1, 2004; Laws 2022, c. 77, § 24, eff. Nov. 1, 2022.
<The Oklahoma Uniform Securities Act of 2004, incorporated in this title as §§ 1-101 to 1-701, was enacted by Laws 2003, c. 347, effective July 1, 2004. See transitional provisions in § 1-701 of this title.>
<The Oklahoma Securities Act, consisting of §§ 1 et seq., 201 et seq., 301 et seq., 401 et seq., and 501; and §§ 701 to 703, of Title 71, was repealed by Laws 2003, c. 347, § 53, effective July 1, 2004.>
<For disposition of the subject matter of the repealed sections to the Oklahoma Securities Act of 2004, see the Disposition Table, post.>

Footnotes

1
Pub.L. 104-290 [see 15 U.S.C.A. § 78a note].
71 Okl. St. Ann. § 1-406, OK ST T. 71 § 1-406
Current with emergency effective legislation through Chapter 347 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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