§ 7-11-210 - Licensing of successor firms.
SECTION 7-11-210
§ 7-11-210 Licensing of successor firms.– (a) A licensed broker dealer or investment adviser may file an application forlicensing of a successor, whether or not the successor is in existence, if thefee the director prescribes for the application is submitted with theapplication.
(b) When a broker dealer or investment adviser succeeds toand continues the business of a licensed broker dealer or investment adviser,the license of the predecessor remains effective as the license of thesuccessor for sixty (60) days after the succession, if an application forlicensing is filed by the successor within thirty (30) days after thesuccession.
(c) Licensing of each then licensed sales representative ofthe broker dealer or of each then licensed investment adviser representative ofthe investment adviser filing an application under subsection (a) or (b)continues automatically without a separate filing or fee upon the licensing ofthe successor.