Section 16-39-432 - Eligibility requirements(a) An applicant, if a natural person, shall have attained the age of eighteen years.(b) A partner, officer, manager, representative, or employee of a registered investment adviser may render investment advisory services only if the person meets all the requirements of and has been duly registered as an investment adviser or investment adviser representative, as provided by section 485A-404, HRS, and this chapter.(c) A corporation, partnership, limited liability company, sole proprietorship, or other unincorporated association whose partners, officers, managers, representatives, or employees render investment advisory services as defined in section 485A-403, HRS, shall comply with registration procedures as provided by section 485A-406, HRS, and this chapter, unless otherwise exempted.(d) An individual applying to be registered as an investment adviser shall take and pass a written examination, prescribed by the commissioner, under section 16-39-438.(e) An applicant shall have at all times, the minimum net worth, as defined in section 16-39-433. An applicant that maintains its principal place of business in a state other than this State shall not be required to comply with the minimum net worth requirement of this section; provided that the applicant is registered in the state where it maintains its principal place of business and is in compliance with that state's net capital or net worth requirements, if any.(f) Except as otherwise expressly provided in this subchapter, an applicant who has custody or discretionary authority over client funds or securities shall obtain a surety bond as set forth in section 16-39-434.(g) A foreign corporation, partnership, or limited liability company intending to establish a branch office in this State shall comply with the requirements of this State's business registration laws, as applicable.[Eff 6/30/08] (Auth: HRS §§ 485A-406, 485A-606) (Imp: HRS §§ 485A-403, 485A-406)