# Ind. Code § 23-19-4-5: Federal covered investment adviser requirements; exemptions; filing > Indiana · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-5 ## Section - **Citation:** Ind. Code § 23-19-4-5 - **Heading:** Federal covered investment adviser requirements; exemptions; filing - **Jurisdiction:** Indiana - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Indiana Code / Title 23 / Article 19 / Chapter 4 / Section 23-19-4-5 ## Text Sec. 5. (a) Except with respect to a federal covered investment adviser described in subsection (b), it is unlawful for a federal covered investment adviser to transact business in this state as a federal covered investment adviser unless the federal covered investment adviser complies with subsection (c). (b) The following federal covered investment advisers are not required to comply with subsection (c): (1) A federal covered investment adviser without a place of business in this state if its only clients in this state are: (A) federal covered investment advisers, investment advisers registered under this article, and broker-dealers registered under this article; (B) institutional investors; (C) bona fide preexisting clients whose principal places of residence are not in this state; or (D) other clients specified by rule adopted or order issued under this article. (2) A federal covered investment adviser without a place of business in this state if the person has had, during the preceding twelve (12) months, not more than five (5) clients that are resident in this state in addition to those specified under subdivision (1). (3) Any other person excluded by rule adopted or order issued under this article. (c) A person acting as a federal covered investment adviser, not excluded under subsection (b), shall file a notice, a consent to service of process complying with IC 23-19-6-11, and such records as have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940 required by rule adopted or order issued under this article and pay the fees specified in section 10(e) of this chapter. (d) The notice under subsection (c) becomes effective upon its filing. As added by P.L.27-2007, SEC.23. ## Nearby sections - [Ind. Code § 23-19-4-1 Broker-dealer registration; exemptions; restrictions on employment or association; foreign transactions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-1.md) - [Ind. Code § 23-19-4-1.5 Exemption from registration for merger and acquisition brokers; exceptions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-1.5.md) - [Ind. Code § 23-19-4-2 Agent registration; exemptions; restrictions on employment or association; restrictions if no affiliation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-2.md) - [Ind. Code § 23-19-4-3 Investment adviser registration; exemptions; restrictions on employment or association](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-3.md) - [Ind. Code § 23-19-4-4 Investment adviser representative registration; exemptions; restrictions on conducting business; referrals](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-4.md) - [Ind. Code § 23-19-4-5 Federal covered investment adviser requirements; exemptions; filing](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-5.md) - [Ind. Code § 23-19-4-6 Application for initial registration; requirements; amendments; national criminal history background check for investment adviser representative; effective date; renewal; conditions and waivers](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-6.md) - [Ind. Code § 23-19-4-7 Succession; organization change; name change; change of control](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-7.md) - [Ind. Code § 23-19-4-8 Termination notice; transfer of employment or association; temporary registration; prevention or suspension of transfer; cancellation or termination of registration; reinstatement](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-8.md) - [Ind. Code § 23-19-4-9 Withdrawal of registration](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-9.md) - [Ind. Code § 23-19-4-10 Fees; transmittal of fee; exception](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-10.md) - [Ind. Code § 23-19-4-11 Minimum financial requirements; financial reports; amendment; records; audits or inspections; insurance or posting bond; supervision; compliance reports](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-11.md) - [Ind. Code § 23-19-4-11.5 Prohibit selection of broker-dealer for completion of compliance report in consecutive years; prohibit selection of certain offices](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-11.5.md) - [Ind. Code § 23-19-4-12 Denial, condition, revocation, suspension, or limitation of registration; censure, bar, or civil penalty for violation; grounds; examination; procedure](https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-12.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T23_A19_C4_S23-19-4-5. Check the current official text before relying on it. Not legal advice.