From: kathy.northrop.b8og@statefarm.com
Sent: Tuesday, January 20, 2004 11:43 PM
To: rule-comments@sec.gov
Subject: file#SR-NASD-2003-104 Proposed NASD Rule Change re: Definition
of Branch Office

Dear     Secretary: 
I am a licensed insurance professional and variable products/mutual funds 
salesperson. I am writing to you because the NASD's proposal to revise the 
definition of branch office in Rule 3010(g)(2) will have a significant 
impact on my business. 

We have been able to focus all of our attention on serving clients and 
addressing their needs under the current system.  Our company (State Farm) 
has invested in a large number of compliance employees to assure adequate 
oversight, assistance, and proactive advice to offices such as ours.  To 
carry the burden of the proposed rule change would necessitate re-allocating 
our resources thereby impacting the attention we can now give to clients.

The disproportionate impact on agencies like mine will further restrict the 
public's access to resources.

Please reject the NASD proposal to revise the definition of branch office
and keep in place the current definition. 

Thank you for your consideration of my views on this matter.


Sincerely, 


Kathy Northrop
210 SW Everett Mall Way Suite D 
Everett, WA 98204