(a) No investment adviser licensed under this chapter shall conduct any business as such investment adviser in this state unless the investment adviser and all natural persons associated with such investment adviser meet such specified and appropriate standards with respect to training, experience and other qualifications as the commissioner finds necessary or desirable. The commissioner may establish such standards by rule, which may
(1) Appropriately classify investment advisers and persons associated with investment advisers;
(2) Specify that all or any portion of such standards shall be applicable to any such class; and
(3) Require persons in any such class to pass examinations prescribed in accordance with such rules.
(b) In addition to the fees imposed by Section 25608, the commissioner may prescribe by rule reasonable fees and charges to defray the costs of carrying out this section, including, but not limited to, fees for any examination administered by him or under his direction.
(Added by Stats. 1968, Ch. 88.)