Series 63 practice questionhardConsent to Service—Multiple Registrations and Successor Liability
A William Blair junior banker transferred registration from State L to State M mid-year, then is sued for acts committed in State L while registered there. Which of the following is TRUE regarding the consent to service?
- AA new consent must be filed in State L before a suit can be served.
- BThe original consent to service in State L continues to permit action for acts committed while registered.✓ Correct answer
- COnly State M’s consent to service is relevant after transfer.
- DThe suit must be filed in federal court due to the change in registration.
Explanation
Why B — The original consent to service in State L continues to permit action for acts committed while registered.
B is correct: The original consent remains effective for all acts during the period of registration (USA §414). A, C, and D are false; the consent persists and state jurisdiction is proper.
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