Kapco Advisers is a federal covered investment advisers with its principal office in New York City and several offices in New Jersey. Joe Segal, who lives in Manhattan, is an IAR with the firm and has the responsibility for serving those clients of Kapco who winter in Florida. In order to do so, Joe takes a hotel suite in Miami Beach for one week in December, in Boca Raton for one week in January, and in West Palm Beach for one week in February. While Mr. Segal is using these facilities to meet with existing clients, he does let them know that if they have any friends who might be interested in the firm's advisory services, they are welcome to make an appointment with him. Which of the following statements is correct regarding Mr. Segal's registration status under the Uniform Securities Act?-Because Joe is meeting with existing clients who are not permanent Florida residents, he does not have to register as an IAR in the state of Florida.-Because Joe is employed by a covered adviser, no registration is necessary in the state of Florida.-Because Joe is employed by a covered adviser, he is only required to register with the SEC.-Because Joe may be meeting with individuals who are not existing clients and may be Florida residents, he must be registered in the state of Florida as an IAR.