Sec. 410.
(1) Before October 1, 2023, a person shall pay a fee of $300.00 when initially filing an application for registration as a broker-dealer and a fee of $300.00 when filing a renewal of registration as a broker-dealer. After September 30, 2023, a person shall pay a fee of $250.00 when initially filing an application for registration as a broker-dealer and a fee of $250.00 when filing a renewal of registration as a broker-dealer. If the filing results in a denial or withdrawal, the administrator shall retain all of the filing fee.
(2) Before October 1, 2023, an individual shall pay a fee of $65.00 when filing an application for registration as an agent, a fee of $65.00 when filing a renewal of registration as an agent, and a fee of $65.00 when filing for a change of registration as an agent. After September 30, 2023, an individual shall pay a fee of $30.00 when filing an application for registration as an agent, a fee of $30.00 when filing a renewal of registration as an agent, and a fee of $30.00 when filing for a change of registration as an agent. If the filing results in a denial or withdrawal, the administrator shall retain all of the filing fee.
(3) Before October 1, 2023, a person shall pay a fee of $200.00 when filing an application for registration as an investment adviser and a fee of $200.00 when filing a renewal of registration as an investment adviser. After September 30, 2023, a person shall pay a fee of $150.00 when filing an application for registration as an investment adviser and a fee of $150.00 when filing a renewal of registration as an investment adviser. If the filing results in a denial or withdrawal, the administrator shall retain all of the filing fee.
(4) Before October 1, 2023, an individual shall pay a fee of $65.00 when filing an application for registration as an investment adviser representative, a fee of $65.00 when filing a renewal of registration as an investment adviser representative, and a fee of $65.00 when filing a change of registration as an investment adviser representative. After September 30, 2023, an individual shall pay a fee of $30.00 when filing an application for registration as an investment adviser representative, a fee of $30.00 when filing a renewal of registration as an investment adviser representative, and a fee of $30.00 when filing a change of registration as an investment adviser representative. If the filing results in a denial or withdrawal, the administrator shall retain all of the filing fee.
(5) Before October 1, 2023, a federal covered investment adviser required to file a notice under section 405 shall pay an initial and annual notice fee of $200.00. After September 30, 2023, a federal covered investment adviser required to file a notice under section 405 shall pay an initial and annual notice fee of $150.00.
(6) A person that is required to pay a filing or notice fee under this section may transmit the fee through or to a designee as a rule or order requires under this act.
(7) An investment adviser representative who is registered as an agent under section 402 and who represents a person that is both registered as a broker-dealer under section 401 and registered as an investment adviser under section 403 or required as a federal covered investment adviser to make a notice filing under section 405 is not required to pay an initial or annual registration fee for registration as an investment adviser representative.
History: 2008, Act 551, Eff. Oct. 1, 2009 ;-- Am. 2012, Act 307, Imd. Eff. Oct. 1, 2012 ;-- Am. 2015, Act 67, Eff. Oct. 1, 2015 ;-- Am. 2019, Act 73, Imd. Eff. Sept. 30, 2019
Compiler's Notes: For transfer of securities division of office of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.