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Arizona Dealer Registration Requirements ADRR - Arizona
| Arizona Dealer Registration Requirements Form. This is a Arizona form and can be used in General Blue Sky Secretary Of State . |
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Arizona Dealer Registration Requirements I. NASD Member Dealers: 1. Submit Form BD or amended Form BD to the NASD WebCRD system requesting registration in Arizona. [See A.R.S. 44-1941] 2. Submit $300.00 registration fee to the NASD WebCRD. [See A.R.S. 44-1861(A)(1) and 44-1941(B)] 3. Submit directly to the Division an audit report of an independent certified public accountant together with a balance sheet, related statements of income (loss), st ockholders equity or retained earnings and cash flows prepared in accordance with generally a ccepted accounting principles as of the most recent practicable date. This requirement is not applicable for those Dealers who have not yet provided audited financial statements pursuant to SEC requirements. [See A.R.S. 44-1941(A)(10)] Applications for registration as a dealer will be processed in accordanc e with the terms of A.A.C. R14- 4-147. The Division will review the information provided through the WebCRD sys tem and the financial statements. Additional information based on this review may be requested . [See A.R.S. 44-1942] The approval of the application by the NASD and state of the dealers princi pal place of business is also required. II. Non-NASD Dealers: 1. Complete Form BD, manually signed and notarized. (Rev. 7/99) [Se e A.R.S. 44-1941(A)] 2. Registration fee of $300.00 payable to the Arizona Corporation Com mission. [See A.R.S. 44- 1861(A)(1) and 44-1941(B)] 3. Submit an audit report of an independent certified public accounta nt together with a balance sheet, related statements of income (loss), stockholders equity or re tained earnings and cash flows prepared in accordance with generally accepted accounting principl es as of the most recent practicable date. This requirement is not applicable for those Dealers who have not yet provided audited financial statements pursuant to SEC requirements. [See A.R.S. 44- 1941(A)(10)] Applications for registration as a dealer will be processed in accordanc e with the terms of A.A.C. R14-4-147. The Division will review the information provided on Form BD and in the financial statements. Additional information based on this review may be requested. [See A.R.S . 44-1942] The approval of the application by an exchange (if applicable) and state of the dealer s principal place of business is also required. N:\Registration\Dealer\BD Instructions\Arizona Dealer Registration R equirements - August 2001.doc American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2III. Issuer Dealers: 1. Form BD, manually signed and notarized. (Rev. 7/99) [See A.R.S. 44-1941] 2. Registration fee of $100.00 payable to the Arizona Corporation Com mission. [See A.R.S. 44-1861(B)] 3. Articles of incorporation and by-laws, partnership agreement or lim ited liability company operating agreement. [If not filed in connection with the registration o f securities pursuant to A.R.S. 44-1893(B).] 4. An audit report of an independent certified public accountant toget her with a balance sheet, related statements of income (loss), stockholders equity or retained earnings and cash flows prepared in accordance with generally accepted accounting principles as of the most recent practicable date. In some instances it may be necessary to furnish unaud ited financial statements as of a current date when the audited financial statements ar e more than 90 days old. The audited financial statements are required by A.R.S. Section 44- 1941(10) and Section 44-1894(9) and (10); therefore, no waiver will be granted fr om this requirement. 5. A consent signed by the firms independent certified public account ants permitting the use of their audit report which accompanies the financial statements filed with the application. Refer to Rule R14-4-120(D). No specific language is required for the c onsent. 6. Brief description of how the securities will be sold and an underta king that the Division will be informed if there is a change in the method of sale. [See A.R.S. 44-1942] Also, represent whether any individuals other than officers will sell the secu rities in Arizona. If so, the non-NASD salesman requirements must be met. [See A.R.S. Section 44-1 801(20) and ACC Rule R14-4-133.] 7. Identity of the individual (designated principal) that has taken the appropriate principals examination (Name & CRD or Social Security number). [See A.R.S. 4 4-1942] Examination requirements may be waived upon showing of equivalent financ ial or brokerage experience. Also, please provide a Form U-4 for such individual. 8. Representation to the Division that in the event of a change in the individual designated as principal for the dealer, the Issuer will submit to the Division written notice of such change at the time of such change. It will be necessary to provide a Form U-4 for such individual as well as proof that such individual has passed the relevant exams. [See A .R.S. 44-1942] 9. A prospectus of an offering the dealer intends to sell or has sold. [If not filed in connection with the registration of securities pursuant to A.R.S. 44-1894.] 10. An undertaking that the Issuer will comply with A.R.S. Section 44-19 48(A) (Reporting Requirements of Dealers and Salespersons). Applications for registration as an issuer dealer will be processed in a ccordance with the terms of A.A.C. R14-4-147. The Division will review the information provided. Additional informatio n based on this review may be requested. [See A.R.S. 44-1942] N:\Registration\Dealer\BD Instructions\Arizona Dealer Registration R equirements - August 2001.doc American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 3 Maintenance of Registration NASD Member Dealers: To maintain registration, NASD member dealers must comply with A.R.S. Section 44-1948(A) as follows: (1) file with the WebCRD all amendments and changes to Form B D as such changes occur or within 90 days of the change; and (2) file with the Securities Divisio n annual audited financial statements simultaneously with the filing of such information with the SEC. [See 44 -1848(A)(1) and (2)]. In addition, all NASD member dealers shall pay a $300.00 annual fee on o r before the last working day of December of each year. Checks are to be payable to NASD and sent to the WebCRD. [See A.R.S. 44-1861(A)(1)] Non-NASD Dealers: To maintain registration, non-NASD dealers must comply with A.R.S. Section 44-1948(A) as follows: (1) file with the Securities Division all amendments and changes to Fo rm BD as
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