District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 31-5602.01: Licensing of broker-dealer and agent.

(a)
No person shall transact business in the District of Columbia (“District”) as a broker-dealer or agent unless the person is licensed or exempt from licensure under this chapter.

(b)
No broker-dealer or issuer shall employ an agent to represent the broker-dealer or issuer unless the agent is licensed or exempt from licensure under this chapter. The license of an agent shall not be effective during any period when the agent is not associated with a specified broker-dealer licensed under this chapter or with a specified issuer.

(c)
No agent shall at any time represent more than one broker-dealer or issuer without the written consent of each broker-dealer or issuer. If an agent begins or terminates an association with a broker-dealer or issuer, or begins or terminates those activities which make the person an agent, the agent and the broker-dealer or issuer shall promptly notify the Commissioner.

(d)
Unless sooner terminated under this chapter or renewed, the license of a broker-dealer or agent shall expire on December 31.

(e)
No broker-dealer licensed under this chapter shall transact business in the District unless it registers at least one agent with the Department.

Where this section sits in the code

Title 31. Insurance and Securities.
Chapter 56. Securities.
Subchapter II. Broker-Dealers, Agents, Investment Advisers and Investment Adviser Representatives.

(a)

No person shall transact business in the District of Columbia (“District”) as a broker-dealer or agent unless the person is licensed or exempt from licensure under this chapter.

(b)

No broker-dealer or issuer shall employ an agent to represent the broker-dealer or issuer unless the agent is licensed or exempt from licensure under this chapter. The license of an agent shall not be effective during any period when the agent is not associated with a specified broker-dealer licensed under this chapter or with a specified issuer.

(c)

No agent shall at any time represent more than one broker-dealer or issuer without the written consent of each broker-dealer or issuer. If an agent begins or terminates an association with a broker-dealer or issuer, or begins or terminates those activities which make the person an agent, the agent and the broker-dealer or issuer shall promptly notify the Commissioner.

(d)

Unless sooner terminated under this chapter or renewed, the license of a broker-dealer or agent shall expire on December 31.

(e)

No broker-dealer licensed under this chapter shall transact business in the District unless it registers at least one agent with the Department.

Collected 2026-08-29T05:44:07Z. Source file · JSON

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