[§485A-407]  Succession and change in

registration of broker-dealer or investment adviser.  (a)  A broker-dealer

or investment adviser may succeed to the current registration of another

broker-dealer or investment adviser or a notice filing of a federal covered

investment adviser, and a federal covered investment adviser may succeed to the

current registration of an investment adviser or notice filing of another

federal covered investment adviser, by filing as a successor an application for

registration pursuant to section 485A-401 or 485A-403 or a notice pursuant to

section 485A-405 for the unexpired portion of the current registration or

notice filing.

     (b)  A broker-dealer or investment adviser that

changes its form of organization or state of incorporation or organization may

continue its registration by filing an amendment to its registration if the

change does not involve a material change in its financial condition or

management.  The amendment becomes effective when filed or on a date designated

by the registrant in its filing.  The new organization shall be a successor to

the original registrant for the purposes of this chapter.  If there is a

material change in financial condition or management, the broker-dealer or

investment adviser shall file a new application for registration.  A

predecessor registered under this chapter shall stop conducting its securities

business other than winding down transactions and shall file for withdrawal of

broker-dealer or investment adviser registration within forty-five days after

filing its amendment to effect succession.

     (c)  A broker-dealer or investment adviser that

changes its name may continue its registration by filing an amendment to its

registration statement and providing any other information that the commissioner

determines is appropriate by rule adopted or order issued under this chapter. 

The amendment becomes effective when filed or on a date designated by the

registrant.

     (d)  A change of control of a broker-dealer or

investment adviser may be made in accordance with a rule adopted or order

issued under this chapter. [L 2006, c 229, pt of §1]