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§ 1-407. Succession and change in registration of broker-dealer or investment adviser

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. § 1-407
§ 1-407. Succession and change in registration of broker-dealer or investment adviser
Currentness
A. A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of an investment adviser or notice filing of another federal covered investment adviser, by filing as a successor an application for registration pursuant to Section 1-401 or 1-403 of this title, or a notice pursuant to Section 1-405 of this title, for the unexpired portion of the current registration or notice filing.
B. A broker-dealer or investment adviser that changes its form of organization or state of incorporation or organization may continue its registration by filing an amendment to its registration if the change does not involve a material change in its financial condition or management. The amendment becomes effective when filed or upon a date designated by the registrant in its filing. The new organization is a successor to the original registrant for the purposes of this act.1 If there is a material change in financial condition or management, the broker-dealer or investment adviser shall file a new application for registration. Any predecessor registered under this act shall stop conducting its securities business other than winding down transactions and shall file for withdrawal of broker-dealer or investment adviser registration within forty-five (45) days after filing its amendment to effect succession.
C. A broker-dealer or investment adviser that changes its name may continue its registration by filing an amendment to its registration. The amendment becomes effective when filed or upon a date designated by the registrant.
D. A change of control of a broker-dealer or investment adviser may be made in accordance with a rule adopted or order issued under this act.

Credits

Laws 2003, c. 347, § 24, eff. July 1, 2004; Laws 2022, c. 77, § 25, 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
Title 71, § 1-101 et seq.
71 Okl. St. Ann. § 1-407, OK ST T. 71 § 1-407
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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