KRS 292.332: Notice filing by covered adviser -- Contents -- Exemptions -- Renewal.

(1) It is unlawful for a covered adviser to transact business in this state as a covered

adviser unless the covered adviser has made a notice filing under subsection (2) of

this section or is exempt from the requirement to make a notice filing under

subsection (3) of this section.

(2) A person transacting business as a covered adviser in this state, who is not exempt

under subsection (3) of this section, shall make a notice filing consisting of a copy

of those documents filed by the covered adviser with the Uni ted States Securities

and Exchange Commission and pay the fee prescribed by this chapter. A notice

filing under this chapter is effective until 12 midnight of December 31 of the year

for which the notice is filed.

(3) The following covered advisers are not required to comply with subsection (2) of

this section:

(a) A covered adviser who has no place of business in this state if his or her only

clients in this state are investment advisers, covered advisers, broker -dealers,

banks, savings institutions, trust companies, insurance companies, pension or

profit-sharing trusts, or other financial institutions or institutional buyers,

whether acting for themselves or as trustees;

(b) A covered adviser who has no place of business in this state if, during any

period of twelve (12) consecutive months, he or she does not have more than

five (5) clients other than those specified in paragraph (a) of this subsection;

and

(c) Any other covered adviser exempted from making a notice filing by

administrative regulation or order under this chapter.

(4) A notice filing by a covered adviser may be renewed by filing a notice consisting of

any documents filed with the United States Securities and Exchange Commission

and paying the fee prescribed in this chapter.