(a) The Securities Commissioner shall require a minimum net capital for registered broker-dealers in such amount as he or she may by rule prescribe and for registered investment advisers in the amount of twelve thousand five hundred dollars ($12,500).(b) However, subsection (a) of this section shall not apply to any registered investment adviser which maintains its principal place of business in a state other than Arkansas that: (1) Is registered or licensed as such in the state in which it maintains its principal place of business; and(2) Is in compliance with the applicable net capital requirements of the state in which it maintains its principal place of business.Acts 1959, No. 254, § 4; 1961, No. 248, § 2; 1973, No. 47, § 3; 1975, No. 844, § 3; A.S.A. 1947, § 67-1238; Acts 1995, No. 845, § 13; 1997, No. 173, § 13. (a) The Securities Commissioner shall require a minimum net capital for registered broker-dealers in such amount as he or she may by rule prescribe and for registered investment advisers in the amount of twelve thousand five hundred dollars ($12,500).(b) However, subsection (a) of this section shall not apply to any registered investment adviser which maintains its principal place of business in a state other than Arkansas that: (1) Is registered or licensed as such in the state in which it maintains its principal place of business; and(2) Is in compliance with the applicable net capital requirements of the state in which it maintains its principal place of business.Acts 1959, No. 254, § 4; 1961, No. 248, § 2; 1973, No. 47, § 3; 1975, No. 844, § 3; A.S.A. 1947, § 67-1238; Acts 1995, No. 845, § 13; 1997, No. 173, § 13.
Arkansas Legal Code