A person engaged in sales activity relating to the offer or sale of federal covered securities under this chapter shall:

1. A. Register as a broker-dealer agent under Corporations and Associations Article, §11-401, Annotated Code of Maryland, and COMAR 02.02.02.04;
2. B. Register as an issuer agent under Corporations and Associations Article, §11-401, Annotated Code of Maryland, and COMAR 02.02.03.11; or
3. C. Qualify for an exclusion under Corporations and Associations Article, §11-101, Annotated Code of Maryland, or an exemption under another provision.

Authority: Corporations and Associations Article, §§11-203, 11-501, 11-503.1, 11-506, 11-510.1, 11-513, and 11-802, Annotated Code of Maryland

Effective date: August 24, 1998 (25:17 Md. R. 1358)

Regulations .09, .10 adopted effective December 28, 1998 (25:26 Md. R. 1918)