Section 032-515-13 - Bonding requirements for licensed investment advisers1.Licensed Investment Advisers not Meeting Net Worth Standard. Every investment adviser licensed under the Act having custody of or discretionary authority over client funds or securities that does not meet the minimum net worth standard in Section 12, Sub-sections (1) and (2) shall be bonded in the amount of the net worth deficiency rounded up to the nearest $5,000.2.Requirements of Bond. Any bond required by this section shall be: A. Issued by a company qualified to do business in this state;B. In the form determined by the Administrator; and C. Subject to the claims of all clients of the investment adviser regardless of the client's state of residence.3.Bonding Requirements of Investment Advisers with Principal Place of Business Out of State. An investment adviser that has its principal place of business in a state other than Maine shall be exempt from the requirements of this section, provided that the investment adviser is licensed as an investment adviser in such state and is in compliance with such state's requirements relating to bonding.02-032 C.M.R. ch. 515, § 13