Okla. Stat. tit. 71, § 71-1-405: Federal covered investment adviser registration

requirement and exemptions.

A. Except with respect to a federal covered investment adviser

described in subsection B of this section, it is unlawful for a

federal covered investment adviser to transact business in this

state as a federal covered investment adviser unless the federal

covered investment adviser complies with subsection C of this

section.

B. The following federal covered investment advisers are not

required to comply with subsection C of this section:

1. A federal covered investment adviser without a place of

business in this state if its only clients in this state are:

a. federal covered investment advisers, investment

advisers registered under this act, and broker-dealers

registered under this act,

b. institutional investors,

c. bona fide preexisting clients whose principal places

of residence are not in this state, or

d. other clients specified by rule adopted or order

issued under this act;

2. A federal covered investment adviser without a place of

business in this state if the person has had, during the preceding

twelve (12) months, not more than five clients that are residents in

this state in addition to those specified under paragraph 1 of this

subsection; and

3. Any other person excluded by rule adopted or order issued

under this act.

C. A person acting as a federal covered investment adviser, not

excluded under subsection B of this section, shall file a notice

containing a consent to service of process complying with Section 1-

611 of this title, such records as have been filed with the

Securities and Exchange Commission under the Investment Advisers Act

of 1940 required by rule or order under this act, and the fee

specified in Section 1-612 of this title.

D. The notice under subsection C of this section becomes

effective upon its filing and expires at midnight on December 31

each year.