Term
| A corporation is not a person and therefore the state Administrator does not have jurisdiction over its securities activities. |
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Definition
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Term
| In general, a person who effects transactions in securities for itself or for the account of others in the course of business, must register in the state as a broker/dealer. |
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Definition
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Term
| A person not defined as a broker/dealer in the state under the USA need not register as such. |
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Definition
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Term
| An individual is a natural person and not a legal person subject to the jurisdiction over its securities activities. |
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Definition
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Term
| Under the Uniform Securities Act (USA), an out-of-state firm that transacts business with an established customer who is on vacation is not considered a broker in the state in which the customer is on vacation. |
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