# Idaho Code § 30-14-402: 30-14-402 AGENT REGISTRATION REQUIREMENT AND EXEMPTIONS

> Idaho · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-402

## Section

- **Citation:** Idaho Code § 30-14-402
- **Heading:** 30-14-402 AGENT REGISTRATION REQUIREMENT AND EXEMPTIONS
- **Jurisdiction:** Idaho
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Idaho Code / Title 30 / Chapter 14 / Section 30-14-402

## Text

PART 4.

BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, INVESTMENT ADVISER REPRESENTATIVES, AND FEDERAL COVERED INVESTMENT ADVISERS

30-14-402. Agent registration requirement and exemptions. (a) Registration requirement. It is unlawful for an individual to transact business in this state as an agent unless the individual is registered under this chapter as an agent or is exempt from registration as an agent under subsection (b) of this section.

(b) Exemptions from registration. The following individuals are exempt from the registration requirement of subsection (a) of this section:

(1) An individual who represents a broker-dealer in effecting transactions in this state limited to those described in section 15(i)(3) of the securities exchange act of 1934 (15 U.S.C. 78o(i)(3));

(2) An individual who represents a broker-dealer that is exempt under section 30-14-401(b) or (d), Idaho Code;

(3) An individual who represents an issuer with respect to an offer or sale of the issuer's own securities or those of the issuer's parent or any of the issuer's subsidiaries, and who is not compensated in connection with the individual's participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;

(4) An individual who represents an issuer and who effects transactions in the issuer's securities exempted by section 30-14-202, Idaho Code, other than section 30-14-202(14), Idaho Code;

(5) An individual who represents an issuer that effects transactions solely in federal covered securities of the issuer, provided however that an individual who effects transactions in a federal covered security under section 18(b)(3), 18(b)(4)(D), or 18(b)(4)(F) of the securities act of 1933 (15 U.S.C. 77r(b)(3), 77r(b)(4)(D), or 77r(b)(4)(F)) is not exempt if the individual is compensated in connection with the agent's participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;

(6) An individual who represents a broker-dealer registered in this state under section 30-14-401(a), Idaho Code, or exempt from registration under section 30-14-401(b), Idaho Code, in the offer and sale of securities for an account of a nonaffiliated federal covered investment adviser with investments under management in excess of one hundred million dollars ($100,000,000) acting for the account of others pursuant to discretionary authority in a signed record;

(7) An individual who represents an issuer in connection with the purchase of the issuer's own securities;

(8) An individual who represents an issuer and who restricts participation to performing clerical or ministerial acts; or

(9) Any other individual exempted by a rule adopted or an order issued under this chapter.

(c) Registration effective only while employed or associated. The registration of an agent is effective only while the agent is employed by or associated with a broker-dealer registered under this chapter or an issuer that is offering, selling or purchasing its securities in this state.

(d) Limit on employment or association. It is unlawful for a broker-dealer, or an issuer engaged in offering, selling or purchasing securities in this state, to employ or associate with an agent who transacts business in this state on behalf of broker-dealers or issuers unless the agent is registered under subsection (a) of this section or is exempt from registration under subsection (b) of this section.

(e) Limit on affiliations. Unless prohibited by a rule adopted or an order issued under this chapter, an individual may act as an agent for more than one (1) broker-dealer or one (1) issuer at a time.

History:

[30-14-402, added 2004, ch. 45, sec. 2, p. 196; am. 2012, ch. 65, sec. 4, p. 181; am. 2020, ch. 103, sec. 1, p. 274.]

## Nearby sections

- [Idaho Code § 30-14-101 30-14-101 SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-101.md)
- [Idaho Code § 30-14-102 30-14-102 DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-102.md)
- [Idaho Code § 30-14-103 30-14-103 REFERENCES TO FEDERAL STATUTES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-103.md)
- [Idaho Code § 30-14-104 30-14-104 REFERENCES TO FEDERAL AGENCIES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-104.md)
- [Idaho Code § 30-14-105 30-14-105 ELECTRONIC RECORDS AND SIGNATURES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-105.md)
- [Idaho Code § 30-14-201 30-14-201 EXEMPT SECURITIES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-201.md)
- [Idaho Code § 30-14-202 30-14-202 EXEMPT TRANSACTIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-202.md)
- [Idaho Code § 30-14-202A 30-14-202A FAIRNESS HEARING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-202A.md)
- [Idaho Code § 30-14-203 30-14-203 ADDITIONAL EXEMPTIONS AND WAIVERS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-203.md)
- [Idaho Code § 30-14-204 30-14-204 DENIAL, SUSPENSION, REVOCATION, CONDITION OR LIMITATION OF EXEMPTIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-204.md)
- [Idaho Code § 30-14-301 30-14-301 SECURITIES REGISTRATION REQUIREMENT.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-301.md)
- [Idaho Code § 30-14-302 30-14-302 NOTICE FILING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-302.md)
- [Idaho Code § 30-14-303 30-14-303 SECURITIES REGISTRATION BY COORDINATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-303.md)
- [Idaho Code § 30-14-304 30-14-304 SECURITIES REGISTRATION BY QUALIFICATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-304.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T30_C14_S30-14-402. Check the current official text before relying on it. Not legal advice.