What is TRUE when it comes to outside parties referring customers to an investment adviser who is registered at the State level under the Uniform Securities Act?

B

If an outside party and an investment adviser enter into an agreement to refer clients to one another with no referral fees paid and no active solicitation by the outside party for investment advisory services, then the outside party typically would NOT be required to register as an IA or IAR. If, however, the outside party actively solicits or is paid a referral fee, then the outside party typically would be required to register.

Explanation:

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what are the sentences? so we can answer the question.