Effective 28 Aug 1985

409.850. Broker-dealers, sales representatives — applications for licenses — fees. — 1. An applicant for licensing as a commodity broker-dealer or commodity sales representative shall file with the commissioner an application for licensing together with a consent to service of process pursuant to section 409.838. The application for licensing shall contain the information which the commissioner determines, by rule, is necessary or appropriate to facilitate the administration of sections 409.850 to 409.863.

2. Each applicant for licensing under sections 409.850 to 409.863 shall pay a fee as follows:

(1) For a license as a commodity broker-dealer, one hundred dollars, and for each branch office, fifty dollars; and

(2) For a license as a commodity sales representative, twenty-five dollars.

3. Except in any year in which a licensing fee is paid, an applicant shall pay an annual fee as follows:

(1) Each commodity broker-dealer, seventy-five dollars, and for each branch office in this state, thirty dollars; and

(2) Each commodity sales representative, fifteen dollars.

4. For purposes of this section, a "branch office" shall mean each office of a commodity broker-dealer in this state, other than the principal office in this state of the commodity broker-dealer, from which three or more commodity sales representatives transact business.

5. If an application is denied or withdrawn or the license is terminated by revocation, cancellation, or withdrawal, the commissioner shall retain the fee paid.

­­--------

(L. 1985 H.B. 409 & 532 § 21)