The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 9 : Commerce and Trade
Chapter 150 : Securities Act
Subchapter 004 : Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers
(Cite as: 9 V.S.A. § 5410)-
§ 5410. Filing fees
(a) A person shall pay a fee of $300.00 when initially filing an application for registration as a broker-dealer and a fee of $300.00 when filing a renewal of registration as a broker-dealer. A separate application in writing for branch office registration or renewal, accompanied by a filing fee of $120.00 per branch office, shall be filed in the Office of the Commissioner in such form as the Commissioner may prescribe by any broker-dealer who transacts business in this State from any place of business located within this State. The fee is nonrefundable.
(b) The fee for an individual is $120.00 when filing an application for registration as an agent, $120.00 when filing a renewal of registration as an agent, and $120.00 when filing for a change of registration as an agent. The fee is nonrefundable.
(c) A person shall pay a fee of $300.00 when filing an application for registration as an investment adviser and a fee of $300.00 when filing a renewal of registration as an investment adviser. A separate application in writing for branch office registration or renewal, accompanied by a filing fee of $120.00 per branch office, shall be filed in the Office of the Commissioner in such form as the Commissioner may prescribe by any investment adviser who transacts business in this State from any place of business located within the State. The fee is nonrefundable.
(d) The fee for an individual is $80.00 when filing an application for registration as an investment adviser representative, $80.00 when filing a renewal of registration as an investment adviser representative, and $80.00 when filing a change of registration as an investment adviser representative. The fee is nonrefundable.
(e) A federal covered investment adviser required to file a notice under section 5405 of this title shall pay an initial fee of $300.00 and an annual notice fee of $300.00. A notice filing may be terminated by filing notice of such termination with the Commissioner. The fee is nonrefundable.
(f) A person required to pay a filing or notice fee under this section may transmit the fee through or to a designee as a rule or order provides under this chapter.
(g) The Commissioner may, as an alternative means of registering branch offices as set forth in subsections (a) and (c) of this section, register branch offices by means of or through the facilities of a national organization that facilitates branch office registration on a nationwide basis, and comply with the terms of any agreement or contract entered into with such national organization. The initial and annual renewal filing fees per branch office specified in subsections (a) and (c) of this section shall apply to any such centralized filing and shall be paid at the time of filing. In the event of conflict between this provision and other pertinent provisions of this chapter, the Commissioner may elect that this provision prevail.
(h) Notwithstanding the provisions of this section, the Commissioner may, upon written request, waive or issue a refund of fees due or paid pursuant to this chapter to military personnel who comply with all the following:
(1) the applicant has been called or recalled to active duty status or to a status similar to active duty;
(2) the applicant’s active duty status is expected to remain unchanged for six months or more during the calendar year for which the refund is requested; and
(3) the active duty status will prevent the applicant from acting as an agent, investment adviser representative, or investment adviser during the relevant time period. (Added 2005, No. 11, § 1, eff. July 1, 2006; amended 2005, No. 72, § 3d, eff. July 1, 2006; 2007, No. 153 (Adj. Sess.), § 31; 2013, No. 29, § 19, eff. May 13, 2013; 2015, No. 149 (Adj. Sess.), § 33a; 2019, No. 70, § 4; 2019, No. 103 (Adj. Sess.), § 28; 2021, No. 25, § 18, eff. May 12, 2021.)
