BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • ARTICLE VI DUES, ASSESSMENTS, AND OTHER CHARGES

    • Power of the Corporation to Fix and Levy Assessments

      Sec. 1.  The Corporation shall prepare an estimate of the funds necessary to defray reasonable expenses of administration in carrying on the work of the Corporation each fiscal year, and on the basis of such estimate, shall fix and levy the amount of admission fees, dues, assessments, and other charges to be paid by the members and issuers and any other persons using any facility or system which the Corporation, NASD Regulation, or NASD Dispute Resolution operates or controls. Fees, dues, assessments, and other charges shall be called and payable as determined by the Corporation from time to time; provided, however, that such admission fees, dues, assessments, and other charges shall be equitably allocated among members and issuers and any other persons using any facility or system which the Corporation operates or controls. The Corporation may from time to time make such changes or adjustments in such fees, dues, assessments, and other charges as it deems necessary or appropriate to assure equitable allocation of dues among members. In the event of termination of membership or the extension of any membership to a successor organization during any fiscal year for which an assessment has been levied and become payable, the Corporation may make such adjustment in the fees, dues, assessments, or other charges payable by any such member or successor organization or organizations during such fiscal years as it deems fair and appropriate in the circumstances.
      Amended by SR-NASD-2007-023 eff. July 30, 2007.
      Amended by SR-NASD-2006-104 eff. Dec. 20, 2006.
      Amended by SR-NASD-2006-135 eff. Dec. 20, 2006.
      Amended by SR-NASD-2001-06 eff. May. 8, 2001.
      Amended by SR-NASD-97-71 eff. Jan. 15, 1998.

    • Reports of Members

      Sec. 2.  Each member, issuer, or other person shall promptly furnish all information or reports requested by the Corporation in connection with the determination of the amount of admission fees, dues, assessments, or other charges.
      Amended by SR-NASD-2007-023 eff. July 30, 2007.
      Amended by SR-NASD-97-71 eff. Jan. 15, 1998.

    • Suspension or Cancellation

      Sec. 3.  (a) The Corporation after 15 days notice in writing, may suspend or cancel the membership of any member or the registration of any person in arrears in the payment of any fees, dues, assessments, or other charges or for failure to furnish any information or reports requested pursuant to Section 2 .
      (b) The Corporation after 15 days notice in writing, may suspend or cancel the membership of any member or suspend from association with any member any person, for failure to comply with an award of arbitrators properly rendered pursuant to the Corporation's Rules, where a timely motion to vacate or modify such award has not been made pursuant to applicable law or where such a motion has been denied, or for failure to comply with a written and executed settlement agreement obtained in connection with an arbitration or mediation submitted for disposition pursuant to the Corporation's Rules.
      Amended by SR-NASD-2007-023 eff. July 30, 2007.
      Amended by SR-NASD-2003-069 eff. Sept. 9, 2004.
      Amended by SR-NASD-97-71 eff. Jan. 15, 1998.
      Amended by SR-NASD-95-20 eff. Oct. 2, 1995.
      Amended eff. Aug. 29, 1991 and Jan. 26, 1993.

      Selected Notices: 91-24, 04-57.

    • Reinstatement of Membership or Registration

      Sec. 4.  Any membership or registration suspended or canceled under this Article may be reinstated by the Corporation upon such terms and conditions as it shall deem just; provided, however, that any applicant for reinstatement of membership or registration shall possess the qualifications required for membership or registration in the Corporation.
      Amended by SR-NASD-2007-023 eff. July 30, 2007.
      Amended by SR-NASD-97-71 eff. Jan. 15, 1998.
      Amended by SR-NASD-96-20 eff. July 11, 1996.
      Amended eff. Aug. 29, 1991.

      Selected Notices: 91-24, 93-16, 95-33.

    • Delegation

      Sec. 5.  The Corporation may delegate its authority under this Article in a manner not inconsistent with the Delegation Plan.
      Amended by SR-NASD-2007-023 eff. July 30, 2007.
      Adopted by SR-NASD-97-71 eff. Jan. 15, 1998.