Section 16-39-435 - Application(a) Except as permitted by section 16-39-430(f), an application for registration shall be filed on Form ADV through the IARD and shall contain the information requested therein concerning the applicant's identification, qualification, business association, history, experience, and financial condition.(b) The application shall be filed together with the following:(1) The application fee set forth in section 16-39-103;(2) Evidence of compliance with all applicable requirements of section 16-39-432(d) to (g);(3) Financial statements consisting of either: (A) A balance sheet as of a date within thirty calendar days of filing, verified by a duly authorized officer, or the equivalent, of the applicant and notarized, or if the applicant has been engaged in business one year or more preceding, an audited financial statement as of the last fiscal year, together with a balance sheet as of a date within thirty calendar days of filing, verified by a duly authorized officer, or the equivalent, of the applicant and notarized. However, if the applicant does not have custody or discretionary authority over client funds, the adviser need only file financial statements verified by a duly authorized officer, or the equivalent, of the applicant and notarized; or(B) If the investment adviser maintains its principal place of business in a state other than this State, and if the investment adviser is registered in the other state and is in compliance with the other state's financial reporting requirements, if any, a copy of the adviser's most recent financial statement filed with the state where the adviser maintains its principal place of business; and(4) Proof that the applicant, if an individual, has complied with the examination requirement provided in section 16-39-438, or otherwise qualifies for exemption from the examination as specified in section 16-39-438.(c) The commissioner may also require additional information regarding the applicant's previous history, record, and association, including without limitation the following: (1) Disclosure of any injunction or administrative order or conviction of a misdemeanor involving a security or any aspect of the securities business, and any conviction of a felony;(2) The applicant's financial condition and history;(3) Disclosure as to whether the investment adviser, or any person employed by or associated in business with the investment adviser, is subject to any disqualification which would be a basis for denial, suspension, or revocation of registration of the investment adviser under section 485A-412, HRS; and(4) Any other information that the commissioner deems necessary to establish the applicant's qualifications.(d) Additional exhibits or information not specifically required by the application may be submitted by the applicant.(e) The commissioner may require the applicant to file additional information if such information is necessary for the commissioner to determine whether to approve or deny the application. In accordance with the provisions of section 16-39-105, any additional information requested by the commissioner shall be requested by the commissioner in writing within forty-five calendar days of receipt of the application.(f) An application for initial registration shall not be considered filed until the required fee and all required submissions have been received by the commissioner.[Eff 6/30/08] (Auth: HRS §§ 485A-403, 485A-406, 485A-410, 485A-411, 485A-606) (Imp: HRS §§ 485A-403, 485A-406, 485A-410, 485A-411)