§ 23-42-303 - Minimum net capital requirement. - Arkansas Statutes

23-42-303. Minimum net capital requirement.

(a) The Securities Commissioner shall require a minimum net capital for registered broker-dealers in such amount as he may by rule prescribe and for registered investment advisers in the amount of twelve thousand five hundred dollars ($12,500).

(b) However, subsection (a) of this section shall not apply to any registered investment adviser which maintains its principal place of business in a state other than Arkansas that:

(1) Is registered or licensed as such in the state in which it maintains its principal place of business; and

(2) Is in compliance with the applicable net capital requirements of the state in which it maintains its principal place of business.