Section 36b-31-9c - Minimum capital requirements for investment advisers(a) Each investment adviser applicant and registrant shall have and maintain tangible assets in excess of liabilities less satisfactory subordination agreements to the extent of at least $1,000.(b) Each investment adviser applicant and registrant whose tangible assets in excess of liabilities at any time are less than the minimum required by subsection (a) of this section shall (1) on the same day that its tangible assets over liabilities become less than the required minimum, file with the commissioner written notice of the deficiency and (2) within 24 hours thereafter, file with the commissioner an up-to-date statement of financial condition and such supplemental schedules and reports which are reasonably necessary to accurately reflect the total financial position of the investment adviser applicant or registrant. Such statement shall include, but not be limited to, a statement of revenues and expenses and a statement of sources and uses of funds. Such up-to-date statement shall be signed and sworn to by the person making it and shall state that the facts it contains are true to that person's own knowledge.(c) If the computations specified in subsection (a) of this section show, at any point during the month, that the investment adviser applicant's or registrant's tangible liabilities are less than the minimum required, the investment adviser applicant or registrant shall file with the commissioner within 10 business days after the end of each month thereafter all of the information required by subsection (b) (2) of this section until three successive months, or such longer period as the commissioner deems appropriate and necessary, have elapsed.Conn. Agencies Regs. § 36b-31-9c
Effective August 22, 1994; Transferred July 3, 1995