(a) An individual may not transact business in this state as an agent unless the individual is registered under this chapter as an agent or is exempt from registration as an agent under (b) of this section.
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Terms Used In Alaska Statutes 45.56.330

  • agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See Alaska Statutes 45.56.900
  • broker-dealer: means a person engaged in the business of effecting transactions in securities for the accounts of others or for the person's own account. See Alaska Statutes 45.56.900
  • federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under 15 U. See Alaska Statutes 45.56.900
  • investment adviser: includes a financial planner or other person that, as an integral component of other financially related services, provides investment advice to others for compensation as part of a business or that holds itself out as providing investment advice to others for compensation. See Alaska Statutes 45.56.900
  • issuer: means a person that issues or proposes to issue a security, subject to the following:
    (A) the issuer of a voting trust certificate, collateral trust certificate, certificate of deposit for a security, or share in an investment company without a board of directors or individuals performing similar functions is the person performing the acts and assuming the duties of depositor or manager under the trust or other agreement or instrument under which the security is issued. See Alaska Statutes 45.56.900
  • sale: includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See Alaska Statutes 45.56.900
  • state: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alaska Statutes 45.56.900
(b) The following individuals are exempt from the registration requirement of (a) of this section:

(1) an individual who represents a broker-dealer in effecting transactions in this state limited to those described in 15 U.S.C. § 78o (i);
(2) an individual who represents a broker-dealer that is exempt under Alaska Stat. § 45.56.300(b) or 45.56.310;
(3) an individual who represents an issuer with respect to an offer or sale of the issuer’s own securities or those of the issuer’s parent or any of the issuer’s subsidiaries and who is not compensated in connection with the individual’s participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;
(4) an individual who represents an issuer and who effects transactions in the issuer’s securities exempted by Alaska Stat. § 45.56.120, other than Alaska Stat. § 45.56.120(11) and (14);
(5) an individual who represents an issuer that effects transactions solely in federal covered securities of the issuer, but an individual who effects transactions in a federal covered security under 15 U.S.C. § 77r (b)(3) or (b)(4)(D) (Securities Act of 1933) is not exempt if the individual is compensated in connection with the agent’s participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;
(6) an individual who represents a broker-dealer registered in this state under Alaska Stat. § 45.56.300(a) or exempt from registration under Alaska Stat. § 45.56.300(b) in the offer and sale of securities for an account of a nonaffiliated federal covered investment adviser with investments under management in excess of $100,000,000 acting for the account of others under discretionary authority in a signed record;
(7) an individual who represents an issuer in connection with the purchase of the issuer’s own securities;
(8) an individual who represents an issuer and who restricts participation to performing clerical or ministerial acts; or
(9) any other individual exempted by a regulation adopted or order issued under this chapter.
(c) The registration of an agent is effective only while the agent is employed by or associated with a broker-dealer registered under this chapter or an issuer that is offering, selling, or purchasing the issuer’s securities in this state.
(d) A broker-dealer or an issuer engaged in offering, selling, or purchasing securities in this state may not employ or associate with an agent who transacts business in this state on behalf of broker-dealers or issuers unless the agent is registered under (a) of this section or exempt from registration under (b) of this section.
(e) An individual may not act as an agent for more than one broker-dealer or one issuer at a time, unless the broker-dealer or the issuer for which the agent acts is affiliated by direct or indirect common control or is authorized by a regulation or order issued under this chapter.
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