RSA 421-B:4-401 Broker-Dealer Registration Requirements and Exemptions.

(a) Registration requirement. It is unlawful for a person to transact business in this state as a broker-dealer unless the person is registered under this chapter as a broker-dealer or is exempt from registration as a broker-dealer under subsection (b) or (d).
(b) Exemptions from registration. The following persons are exempt from the registration requirement of subsection (a):
(1) a broker-dealer without a place of business in this state if its only transactions effected in this state are with:
(A) the issuer of the securities involved in the transactions;
(B) a person registered as a broker-dealer under this chapter or not required to be registered as a broker-dealer under this chapter;
(C) an institutional investor; or
(D) a bona fide preexisti