Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 48 - DEPARTMENT OF BANKING AND FINANCE
Chapter 5 - ISSUER-DEALERS
Section 48-5-009 - AGENTS

Universal Citation: 48 NE Admin Rules and Regs ch 5 ยง 009

Current through March 20, 2024

Any person who is involved directly or indirectly in the sale of securities of the issuer-dealer must be licensed as an agent of the issuer-dealer by the Department.

009.01 An agent must have sufficient training and knowledge of the securities business, and must meet the requirements of the Act and this Rule.

009.02 Partners, officers, directors and managing members of an issuer-dealer may effect sales of securities of the issuer-dealer without registration as agents, provided two partners, officers, directors, or managing members shall have taken and passed either the Nebraska Securities Law Exam, administered by the Department, or a securities examination administered by the Financial Industry Regulatory Authority ("FINRA"), acceptable to the Director.

009.03 An application for initial registration as an agent of an issuer-dealer shall be filed with the Director and consists of the following:

009.03A A copy of a signed Application for Registration as Agent of Issuer-Dealer, together with all applicable schedules and exhibits specified therein, complete, accurate and current;

009.03B A filing fee of forty dollars ($ 40.00) ; and

009.03C Any other information the Director may require.

009.04 Agents are required to pass the Nebraska Securities Law Exam, unless the Director determines, in his or her discretion, that the nature of the offering indicates an examination administered by FINRA is appropriate.

009.04A The Nebraska Securities Law Exam will be administered by appointment and upon payment of an examination fee of five dollars ($ 5.00).

009.04B The Nebraska Securities Law Exam will be based upon the Act, rules adopted thereunder, and information contained in the prospectus and registration statement for the securities of the issuer-dealer.

009.05 Agent registration must be renewed annually on the anniversary date of the employing issuer-dealer's registration.

009.06 An issuer-dealer shall notify the Director within ten days after the termination of any agent or principal.

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