ASSOCIATED PERSON

associated  person.Securities.  1.  A  partner,  officer,  director,  branch  manager  of  a  broker  or

dealer,  or  any  person  performing  similar  functions  or  occupying  a  similar  status,  any  person

directly or indirectly controlling, controlled by, or under common control with the broker or dealer,

or  any  employee of  the  broker  or  dealer  —  with  two  exceptions: (1)  those  whose  functions are

solely clerical or ministerial, and (2) those required to register under state law as a broker or dealer

solely because they are issuers of securities or associated with an issuer of securities. 15 USCA §

78(a)(21),  (49).  [Cases:  Securities  Regulation    40.12.  C.J.S.  Securities  Regulation  §§  157–158,

165.] 2. A natural person who is a partner,  officer,  director, or employee of: (1) the issuer; (2) a

general partner  of  a  limited  partnership  issuer;  or  (3)  a company  or  partnership  that  controls, is

controlled by, or is under common control with the issuer. Cf. AFFILIATE(2).[Blacks Law 8th]