Certified Dealers


"Certified Dealer" is defined, in section 51-7-3(1)  of the Utah State Money Management Act, as "a primary reporting dealer recognized by the Federal Reserve Bank of New York who is certified by the director as having met the applicable criteria of council rule," or is a "broker dealer who: (i) has and maintains an office and a resident registered principal in the state; (ii) meets the capital requirements established by council rules; (iii) meets the requirements for good standing established by council rule; and (iv) is certified by the director as meeting quality criteria established by council rule."

Initial License

Pursuant to 51-7-11  of the State Money Management Act, you must be a Certified Dealer to place transactions for any state, county, city, or other political subdivision in Utah.

  • To become a Certified Dealer, the following must be filed with the Division:
    1. $500.00 annual certification fee.
    2. Proof of status as a primary reporting dealer, including proof of recognition by the Federal Reserve Bank.
    3. The address of the applicant's principal office. Broker-Dealers who are not primary reporting dealers must maintain an office and a resident principal in Utah. The application shall include the address of the Utah office and the identity of the resident principal.
    4. Proof of licensure with the Division as a Broker-Dealer.
    5. Certificate of Good Standing obtained from the state in which the applicant is incorporated.
    6. Financial Statements for applicants who are not primary reporting dealers. The applicant must have Net Capital as defined by the SEC.
    7. A notarized statement signed by a principal and any agent who has any contact with a public treasurer or its account, that the agent is familiar with the authorized investments as enumerated in section 51-7-11(3)  of the State Money Management Act.
  • A certificate of status will not be issued by the Division.
  • Certified Dealer status expires May 30th each year.


  • Form 628-15 (Application to Become a Certified Investment Adviser)
  • Form 628-16 (Application to Become a Certified Dealer)