Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?
MD. CORPS & ASS’NS CODE ANN. § 11-405(b)(2017)
MD. CORPS & ASS’NS CODE ANN. § 11-401(b)(1)(2017)
What is the maximum number of clients adviser can have in the state without triggering a notice filing?
MD. CORPS & ASS’NS CODE ANN. § 11-401(b)(3)(ii)(2017)
What sorts of clients are not counted for purposes of determining whether to notice file?
Investment companies as defined in the Investment Company Act of 1940, other investment advisers, federal covered advisers, broker-dealers, banks, trust companies, savings and loan associations, insurance companies, employee benefit plans with assets of not less than $ 1,000,000, and governmental agencies or instrumentalities, whether acting for themselves or as trustees or fiduciaries with investment control, or other institutional investors as are designated by rule or order of the commissioner.
MD. CORPS & ASS’NS CODE ANN. § 11-401(b)(3)(i)(2017)
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