Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-04 - Division of Securities
Chapter 0780-04-03 - Industry Regulation
Section 0780-04-03-.03 - OIL AND GAS ISSUER-DEALERS
Universal Citation: TN Comp Rules and Regs 0780-04-03-.03
Current through September 24, 2024
(1) Oil and Gas Issuer Dealer Registration.
(a) All
applications for initial registration as an oil and gas issuer-dealer shall
contain the following unless waived by order of the commissioner:
1. Form IN-0911, Application for Registration
as an Oil and Gas Issuer-Dealer, containing all information and exhibits
required by that Form;
2. A Consent
to Service of Process and, if applicable, a Uniform Form of Corporate
Resolution. Forms U-2 and U-2A are acceptable;
3. A nonrefundable filing fee of one hundred
dollars ($100) by check made payable to the Tennessee Department of Commerce
and Insurance; and
4. Such other
information as the Division may request from a particular applicant to
determine eligibility for registration.
(b) All applications for registration must be
filed with the Division at its current published address.
(c) All applications become effective by
operation of law thirty (30) days after the date stamped on the Form IN-0911 by
the Division or, in the event the application is incomplete, thirty (30) days
after the date the application becomes complete, unless a proceeding has been
initiated by the Division to suspend or deny the application pursuant to T.C.A
§
48-1-110(f)(4) or
the thirty (30) day period is waived in writing by the applicant.
(d) Abandonment.
1. The Division may determine that an
application to register an oil and gas issuer-dealer has been abandoned if:
(i) The application has been on file with the
Division for more than one hundred eighty (180) days without becoming
registered and no written communication has been received by the Division in
connection with the application during such time period; or
(ii) A period of one hundred eighty (180)
days has elapsed since the date of the Division's receipt of the most recent
written communication to the Division from or on behalf of the
applicant.
2. Upon
determination that an application has been abandoned, the Division shall, by
Order of Abandonment, cancel the pending application without prejudice and,
within thirty (30) days of such cancellation, mail a copy of the Order of
Abandonment to the last known business address of the applicant.
(2) Renewal of Registration.
(a) All registrations expire at
midnight on December 31 of each year and must be renewed no later than ten (10)
days prior to that date.
(b) All
renewals shall contain the following:
1. The
renewal form provided by the Division with all information and exhibits
required by the form; and
2. A
nonrefundable renewal fee of fifty dollars ($50) by check to the Tennessee
Department of Commerce and Insurance.
(3) Amendments.
(a) The applicant shall notify the Division
in writing of any changes in the information provided in the application within
ten (10) days of occurrence.
Authority: T.C.A. §§ 48-1-102, 48-1-107, 48-1-110, 48-1-111, 48-1-112, 48-1-113, 48-1-115, 48-1-116, 48-1-118, Public Acts of 2001, Chapter 61, §222 of the Investment Advisers Act of 1940, as amended by §304(a) of the National Securities Markets Improvement Act of 1996, and §§201A, 205, and 215 of the Investment Advisers Act of 1940.
Disclaimer: These regulations may not be the most recent version. Tennessee 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.
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