1. (a) This section applies to an applicant seeking to register as an agent of a broker-dealer under IC 23-19-4 .

2. (b) Except as provided in subsections (c) through (e), an applicant must pass:

   1. (1) the Series 63 or Series 66 examination; and

   2. (2) any other examination required by the commissioner;

      within the two (2) years preceding the date of application.

3. (c) An applicant is in compliance with the examination requirement under subsection (b) if the:

   1. (1) applicant has not been registered as an agent in any state for more than two (2) years but less than five (5) years;
   2. (2) applicant is a participant in the Maintaining Qualifications Program administered by FINRA;
   3. (3) applicant's FINRA qualifying examinations are valid through the applicant's participation in the Maintaining Qualifications Program administered by FINRA; and
   4. (4) applicant is a participant in the Examination Validity Extension Program for agents of broker-dealers administered by NASAA within two (2) years of agent registration termination.

4. (d) An applicant is in compliance with the examination requirement in subsection (b)(2) if the:

   1. (1) applicant has not been registered as an agent in any state for more than two (2) years but less than five (5) years;
   2. (2) applicant is a participant in the Maintaining Qualifications Program administered by FINRA; and
   3. (3) applicant's FINRA qualifying examinations are valid through the individual's participation in the Maintaining Qualifications Program administered by FINRA.
5. (e) The commissioner may waive any of the examination requirements under subsection (b).
6. (f) For purposes of investment adviser representative registration, the validity of an applicant's investment adviser representative portion of the Series 66 examination may not be extended through participation in the Maintaining Qualifications Program administered by FINRA.

As added by P.L.41-2026, SEC.7.