Form 172 - Bond For Investment Adviser printable pdf download

Minnesota Rules, Table of Chapters

Table of contents for Chapter 2875

2875.9915 FORM 172:

BOND FOR INVESTMENT ADVISER.

[BOND FOR INVESTMENT ADVISER]

KNOW ALL BY THESE PRESENTS, That we, _______________

__________________________________________________________, as

Principal, and _________________________________ a qualified and

authorized to do business in the State of Minnesota, as Surety,

are held and firmly bound unto the STATE OF MINNESOTA for the

use and benefit of any interested person, in the sum of

$25,000.00, lawful money of the United States of America, to be

paid to the State of Minnesota for the use and benefit

aforesaid, for which payment well and truly to be made, we bind

ourselves, our heirs, executors, administrators, successors and

assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, That Whereas

the above named Principal has made application to the State of

Minnesota, Department of Commerce, for licensing as an

Investment Adviser within the meaning of the Minnesota

Securities Act and is required to furnish a bond in the sum

above named, conditioned as herein set forth:

NOW, THEREFORE, If the Principal, their agents and

employees, shall strictly, honestly and faithfully comply with

the provisions of the aforementioned Minnesota Securities Act,

and shall pay all damages suffered by any person by reason of

the violation of any of the provisions of the Act, or Acts

amendatory thereof and supplementary thereto, now or hereafter

enacted, or by reason of any fraud, dishonesty,

misrepresentation, or concealment of facts materially affecting

the value of any securities connected with, or growing out of

any transaction contemplated by the provisions of this Act, then

this obligation shall be void; otherwise to remain in full force

and effect.

THIS BOND shall become effective on the ______________, and

shall remain in force until the Surety is released from

liability by the State of Minnesota, Department of Commerce, or

until this bond is canceled by the Surety.

The Surety may

cancel this bond and be relieved of further liability hereunder

by giving thirty (30) days' written notice to the Principal and

to the Department of Commerce, of the State of Minnesota.

THIS BOND shall be one continuing obligation, and the

liability of the Surety for the aggregate of any and all claims

which may arise hereunder shall in no event exceed the amount of

the penalty hereof.

No suit may be maintained to enforce any liability on the

bond, unless brought within three years after the sale or other

act upon which it is based.

IN WITNESS WHEREOF, we have hereunto set our hands and

Form 172 - Bond For Investment Adviser

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