Ariz. Admin. Code § 14-4-121

Current through Register Vol. 30, No. 45, November 8, 2024

Section R14-4-121 - Limitation on Activities of Securities Salesmen; Definitions

A. As used in this Section, the following terms have the meaning indicated:

1. "Affiliate" means a person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with the person specified.

2. "Registered salesman" means an individual registered to sell securities pursuant to A.R.S. Title 44, Chapter 12, Article 9.

B. A registered salesman shall not sell securities for more than one dealer in Arizona during the same time period unless one of the following applies:

1. The dealers for which the registered salesman sells securities are affiliates.

2. The dealers have filed with the Commission a copy of a written agreement that the registered salesman may sell securities for each of the dealers, which is signed by all of the dealers.

Ariz. Admin. Code § R14-4-121

Former Order S-21. Amended by final rulemaking at 9 A.A.R. 90, effective February 15, 2003 (Supp. 02-4).