Section 032-515-3 - Application for investment adviser licensure1.Initial Application. The application for initial licensure as an investment adviser pursuant to Section 16406(1) of the Act shall be made by completing the Form ADV in accordance with the form instructions, and by filing the form with the IARD. Until the IARD provides for the filing of Form ADV, Part II, it shall be filed directly with the Administrator. Once the IARD can accept such filings, Form ADV, Part II shall be filed with the IARD. The application for initial licensure shall also include the following: A. A financial statement demonstrating compliance with the requirements of Section 12, if necessary;B. The fee required by Rule Chapter 541;C. For sole proprietors, proof of compliance by the applicant with the examination requirements of Section 10 of this chapter unless such proof is available to the Administrator through the CRD; and D. Any other information required by the Administrator.2.Annual Renewal. Pursuant to Section 16406(4) of the Act, a license is effective until midnight on December 31st of the year for which the application for licensing was filed. An investment adviser may renew a license through the IARD and shall pay the fee required by Rule Chapter 541. 3.Amendments.A. Pursuant to Section 16406(2) of the Act, if the information or record contained in an application filed under this section is or becomes inaccurate or incomplete in a material respect, the licensee shall "promptly" file a correcting amendment in accordance with the instructions in the Form ADV.B. An amendment will be considered to be filed "promptly" if it is filed within thirty (30) days of the event that requires the filing.4.Completion of Filing. An application for initial licensure or renewal is not considered filed for purposes of Section 16406 of the Act until the required fee and all additional information requested by the Administrator has been received by the Administrator.5.Branch Offices. Each investment adviser shall file with the CRD a Form BR, in accordance with the form instructions, for every branch office in Maine and shall pay the initial fee required by Rule Chapter 541. The filing is effective until midnight on December 31st of the year in which the filing was made. Each investment adviser shall renew its branch office filings with the CRD and shall pay the renewal fee required by Rule Chapter 541.02-032 C.M.R. ch. 515, § 3