§ 44-1945 — Application for registration as salesman; filing; contents; exemptions

Arizona § 44-1945

• Jurisdiction: Arizona
• Title 44: Arizona Revised Statutes
• Ch. 12: SALES OF SECURITIES
• Art. 9: Registration of Dealers and Salesmen

Text

A. Any individual may apply for registration as a salesman. An application for registration as a salesman shall be signed by the applicant and by the registered dealer employing or intending to employ the applicant and shall be duly verified by oath. The application accompanied by the registration fee prescribed by section 44-1861, subsection A shall be filed with the commission and shall include the following, together with other information the commission prescribes:

1. Name, residence address and business address of the applicant.

2. Name of the dealer employing or intending to employ the applicant.

3. Age and education of the applicant.

4. The nature of employment and name and address of each employer of the applicant for the ten years immediately preceding the date of application.

5. A statement showing whether the applicant has been registered as a dealer in or salesman of securities under laws of other states or as a broker or dealer under the securities exchange act of 1934 and whether or not such registration has been denied, cancelled, suspended or revoked and, if so, a complete statement of the facts with respect to the denial, cancellation, suspension or revocation.

6. A statement showing whether the applicant has, within the past ten years, been convicted of or charged with a felony or misdemeanor of which fraud is an essential element, or a felony or misdemeanor involving the purchase or sale of securities and, if so, a complete statement of the facts with respect to the conviction.

7. A statement showing whether the applicant has been enjoined or restrained by a court of competent jurisdiction in connection with the purchase or sale of securities and, if so, a complete statement of the facts with respect to the enjoinder.

8. If the applicant's fingerprints are not on file with the division, the CRD system or the investment adviser registration depository operated by the national association of securities dealers, a full set of fingerprints. The commission shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.

B. By rule or order, the commission may provide limited registration requirements for any salesman or class of salesmen or exempt any salesman or class of salesmen from registration under this article if the commission determines that registration is not necessary to protect the public interest due to the special characteristics of the securities or transactions in which the salesman or class of salesmen is involved.

C. Any salesman effecting transactions in this state limited solely to those transactions described in sections 15(h)(2) and (3) of the securities exchange act of 1934 is exempt from registration under this article.