Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 08 - Securities
Article 1 - Registration, Notice, and Regulation of Broker-Dealers, Agents, State Investment Advisers, and Federal Covered Advisers, and Investment Adviser Representatives
3 AAC 08.025 - Bonding requirements for certain state investment advisers

Universal Citation: 3 AK Admin Code 08.025

Current through February 24, 2025

(a) A state investment adviser registered or required to be registered under AS 45.55 that has custody of client funds or securities shall be bonded in the amount of $35,000.

(b) A state investment adviser registered or required to be registered under AS 45.55 that has discretionary authority over, but does not have custody of, client funds or securities shall be bonded in the amount of $10,000.

(c) A state investment adviser that has its principal place of business in a state other than this state is exempt from the requirements of this section, if the state investment adviser is registered as an investment adviser in the state where it has its principal place of business and is in compliance with that state's bonding requirements.

(d) The administrator will only accept a bond as meeting the requirements of this section if the bond is

(1) issued by a company qualified to do business in this state;

(2) issued on State of Alaska Form 08-100, or other form acceptable to the administrator; and

(3) subject to the claims of all clients of the state investment adviser regardless of the client's state of residence.

(e) The administrator will, in the administrator's discretion, waive all or part of the requirements of this section if

(1) the state investment advisor submits a written application showing good cause for the waiver; and

(2) the administrator determines that the waiver is consistent with AS 45.55 and its purposes and is in the public interest.

(f) Repealed 4/19/2000.

Authority:AS 45.55.040

AS 45.55.050

AS 45.55.060

AS 45.55.950

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.