Part 1. Definitions - California Corporations Code Section 25009.5
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California Laws > Corporations Code > Part 1. Definitions - California Corporations Code Section 25009.5
25009.5. (a) "Investment adviser representative" or "associated
person of an investment adviser" means any partner, officer, director
of (or a person occupying a similar status or performing similar
functions) or other individual, except clerical or ministerial
personnel, who is employed by or associated with, or subject to the
supervision and control of, an investment adviser that has obtained a
certificate or that is required to obtain a certificate under this
law, and who does any of the following:
(1) Makes any recommendations or otherwise renders advice
(2) Manages accounts or portfolios of clients.
(3) Determines which recommendation or advice regarding securities
should be given.
(4) Solicits, offers, or negotiates for the sale or sells
investment advisory services.
(5) Supervises employees who perform any of the foregoing.
(b) "Investment adviser representative" means, with respect to an
investment adviser subject to Section 25230.1, a person defined as an
investment adviser representative by Rule 203A-3 of the Securities
and Exchange Commission (17 C.F.R. 275.203A-3) and who has a place of
business in this state.
Last modified: February 16, 2015