Section 16-38-6.5 - Registration; expiration, renewal, termination(a) The registration of each salesperson of a dealer or issuer shall automatically expire on December 31 of each calendar year unless the registration has been renewed on or before December 31. A salesperson's registration shall be renewed by the dealer or issuer as provided in section 16-38-5.6.(b) A salesperson's registration may be terminated prior to its expiration date by either the dealer or issuer employing the salesperson or by the salesperson filing a Form U- 5 with the commissioner. Termination shall be effective when the notice of termination is received by the commissioner unless another date is indicated on the Form U-5. A salesperson who filed its Form U- 4 with the commissioner through the CRD may also file its Form U-5 through the CRD.(c) A salesperson whose registration with a dealer or issuer has been terminated may apply for registration as a salesperson for another issuer or dealer by filing an application for registration with the commissioner in accordance with the requirements of section 16-38-6.2.(d) Termination of any dealer's or issuer's registration for any reason shall automatically terminate the registration of all salespersons employed by or affiliated with the dealer or issuer.(e) When a salesperson ceases the activities of a salesperson, a Form U- 5 to terminate the salesperson's registration shall be promptly filed by the issuer or dealer with whom the salesperson is registered.[Eff 6/4/70; am 5/27/80; am and ren § 16-38-6, 7/30/81; am 11/5/81; am, ren § 16-38-6.5 and comp 10/12/85; am and comp 4/14/03] (Auth: HRS § 485-2) (Imp: HRS § 485-14)