Investment Adviser

Agent Or Broker Whose Only Compensation Is A Commission On Real Estate Sold. An Individual Or Company Primarily Engaged In Acting As A Business Broker Whose Only Compensation Is A Commission On The Sale Of A Business. An Individual (Employee, Officer, Director, General Partner) Who In The Course Of Performing His Duties Provides Investment Advice To Affiliates (Person Or Entity) Or To Employee Benefit Plans. Any Person Exempt From Registration Under The Investment Advisers Act Of 1940 Or Because Of Any Rule Or Regulation Promulgated By The United States Securities And Exchange Commission (Section 203(B)(3)) As In Effect On June 1, 1988. Any Employee Of A Bank, Savings Institution, Trust Company, Newspaper (Etc. See #5), Business Development Company; Personal Representative (See #7), Real Estate Agent Or Broker Acting On Behalf Of Such Person Within The Scope Of His Employment. Such Other Persons Not Within These Exemptions As The Administrator May By Rule Or Order Designate. Any Person Who'S Only Clients In This State Are Investment Companies, Other Investment Advisers, Dealers, Banks, Trust Companies, Savings Institutions, 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 With Investment Control, Or Other Institutional Investors Designated By The Administrator. A Person Who Has No Place Of Business In This State And During Any 12 Consecutive Month Period Doesn't Direct Business Communications Into This State In Any Manner To More Than 10 Clients, Other Than Those Specified above, Whether Or Not He Or Any Of The Persons To Whom The Communications Are Directed Is Then Present In This State. Any Person Who Was Registered As An Investment Adviser Or Representative In This State Prior To January 1, 1989 Is Not Required To Take And Pass The Uniform Investment Adviser State Law Examination But Must Still Register.