§ 78A-40. Alternative methods of registration. - North Carolina Statutes

§78A‑40.  Alternative methods of registration.

(a)        The Administratormay by rule or order provide an alternative method of registration by which anydealer or salesman acting in that capacity or as a principal may satisfy therequirements of this Article by furnishing the information otherwise requiredto be filed pursuant to this Article. The Administrator may provide for, amongother things, alternative filing periods for dealers or salesmen, eliminationof the issuance of a paper license and alternative methods for the payment andcollection of initial or renewal filing fees, which shall be known as"alternative filing fees". The alternative filing fees shall be thesame as provided in G.S. 78A‑37(b).

(b)        The Administratormay not adopt an alternative method of registration unless its purpose is tofacilitate a central registration depository whereby dealers or salesmen cancentrally or simultaneously register and pay fees for all states in which theyplan to transact business that require registration. The Administrator may enter into an agreement with or otherwise facilitate an alternative method ofregistration with any national securities association registered with theSecurities and Exchange Commission pursuant to Section 15A of the SecuritiesExchange Act of 1934, any national securities exchange registered under theSecurities Exchange Act of 1934, or any national association of statesecurities Administrators or similar association to effectuate the provisionsof this section.

(c)        Nothing in this sectionshall be construed to prevent the exercise of the authority of theAdministrator as provided in G.S. 78A‑39. (1981, c. 624, s. 5; 1983, c.817, s. 16; 1987, c. 849, s. 3.)