(a) The Securities Commissioner shall require a minimum net capital for registered broker-dealers in such amount as he or she may by rule prescribe and for registered investment advisers in the amount of twelve thousand five hundred dollars ($12,500).
(b) However, subsection (a) of this section shall not apply to any registered investment adviser which maintains its principal place of business in a state other than Arkansas that:(1) Is registered or licensed as such in the state in which it maintains its principal place of business; and(2) Is in compliance with the applicable net capital requirements of the state in which it maintains its principal place of business.
(1) Is registered or licensed as such in the state in which it maintains its principal place of business; and
(2) Is in compliance with the applicable net capital requirements of the state in which it maintains its principal place of business.