NAC90.387. Recordkeeping requirements; disclosures to clients.

     1. Except as otherwise provided in subsection 2, an investment adviser licensed or required to be licensed pursuant to NRS 90.330 shall comply with the provisions of:

     (a) Model Rule 203(a)(2), as adopted by reference in subsection 2 of NAC 90.3864;

     (b) 17 C.F.R. § 275.204-2, as adopted by reference in subsection 3 of NAC 90.3864; and

     (c) 17 C.F.R. § 275.204-3, as adopted by reference in subsection 4 of NAC 90.3864.

     2. An investment adviser who has his or her principal place of business in a state other than this State shall maintain and preserve only such books and records as are required by the state in which the investment adviser maintains his or her principal place of business, if the investment adviser is licensed in that state and is in compliance with that state’s requirements for the preservation of books and records.

     (Added to NAC by Sec’y of State, eff. 10-30-97; A by R016-02, 8-6-2002)