Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?
Yes.
MONT. CODE ANN § 30-10-201(6)(b) (2017)
MONT. CODE ANN § 30-10-201(3)(b) (2017)
MONT. CODE ANN. § 30-10-201(3)(c) (2017)
What is the maximum number of clients adviser can have in the state without triggering a notice filing?
5
MONT. CODE ANN. § 30-10-201(3)(c) (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, or insurance companies,
- other investment advisers,
- federal covered advisers,
- broker-dealers,
- banks,
- trust companies,
- savings and loan associations,
- employee benefit plans with assets not less than $1,000,000,
- governmental agencies or instrumentalities, whether acting for themselves or as trustees with investment control, or
- other institutional investors as designated by rule or order of the commissioner.
MONT. CODE ANN. § 30-10-201(3)(b) (2017).
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