Section 032-515-9 - Termination, transfer and withdrawal1.Termination of Investment Adviser Representative's Employment or Association. Pursuant to Section 16408(1) of the Act, if an investment adviser representative licensed under the Act terminates (A) employment by or association with an investment adviser or a Federal Covered Investment Adviser or (B) activities that require licensing as an investment adviser representative, the investment adviser or Federal Covered Investment Adviser shall complete the Form U-5 in accordance with the form instructions and "promptly" file the form with CRD. If the investment adviser representative learns that the investment adviser or Federal Covered Investment Adviser has not filed the form, then the investment adviser representative shall "promptly" file it. The form will be considered to be filed "promptly" if it is filed within thirty (30) days of the termination.2.Transfer of Investment Adviser Representative's Employment or Association. Pursuant to Section 16408(2) of the Act, if an investment adviser representative licensed under the Act terminates employment by or association with an investment adviser or Federal Covered Investment Adviser and begins employment by or association with another investment adviser or Federal Covered Investment Adviser, an initial application for licensure must by filed in compliance with Section 16406 of the Act and Section 4 of this Chapter. 3.WithdrawalA. The application for withdrawal of a license by an investment adviser pursuant to Section 16409 of the Act shall be made by following the instructions on Form ADV-W and filing the Form ADV-W with the IARD.B. The application for withdrawal of licensure as an investment adviser representative pursuant to Section 16409 of the Act shall be made by following the instructions on Form U-5 and filing the Form U-5 with the CRD.02-032 C.M.R. ch. 515, § 9