| (iv) Corporations and limited liability companies.
Corporations and limited liability companies must file a balance sheet
that complies with generally accepted accounting principles (GAAP).
The information requested in the supporting financial information
must be submitted. The balance sheet and supporting financial information
must be as of the same date. Financial statements are generally not
required of related parties, but may be required by the commissioner
if the commissioner believes they are relevant. The financial information
for the corporation or limited liability company applicant should
contain no personal financial information.
(v) Trusts and estates. Trusts and estates must file
a balance sheet that complies with generally accepted accounting principles
(GAAP). The information requested in the supporting financial information
must be submitted. The balance sheet and supporting financial information
must be as of the same date. Financial statements are generally not
required of related parties, but may be required by the commissioner
if the commissioner believes they are relevant. The financial information
for the trust or estate applicant should contain no personal financial
information.
(J) Assumed name certificates. For an applicant that
does business under an "assumed name" as that term is defined in Texas
Business and Commerce Code, §71.002, an assumed name certificate
must be filed as provided in this subparagraph.
(i) Unincorporated applicants. Unincorporated applicants
using or planning to use an assumed name must file an assumed name
certificate with the county clerk of the county where the proposed
business is located in compliance with Texas Business and Commerce
Code, §71.002. An applicant must provide a copy of the assumed
name certificate that shows the filing stamp of the county clerk or,
alternatively, a certified copy.
(ii) Incorporated or limited partnership applicants.
Incorporated or limited partnership applicants using or planning to
use an assumed name must file an assumed name certificate in compliance
with Texas Business and Commerce Code, §71.002. Evidence of the
filing bearing the filing stamp of the Texas Secretary of State must
be submitted or, alternatively, a certified copy.
(2) Other required filings.
(A) Fingerprints.
(i) For all persons meeting the definition of "principal
party" as defined in §85.102 of this title, a complete set of
legible fingerprints must be provided. All fingerprints should be
submitted in a format prescribed by the OCCC and approved by the Texas
Department of Public Safety and the Federal Bureau of Investigation.
(ii) For limited partnerships, if the owners and principal
parties under paragraph (1)(B)(iii)(I) of this subsection does not
produce a natural person, the applicant must provide a complete set
of legible fingerprints for individuals who are associated with the
general partner as principal parties.
(iii) For entities with complex ownership structures
that result in the identification of individuals to be fingerprinted
who do not have a substantial relationship to the proposed applicant,
the applicant may submit a request to fingerprint three officers or
similar employees with significant involvement in the proposed business.
The request should describe the relationship and significant involvement
of the individuals in the proposed business. The agency may approve
the request, seek alternative appropriate individuals, or deny the
request.
(iv) For individuals who have previously been licensed
by the OCCC and principal parties of entities currently licensed,
fingerprints are generally not required if the fingerprints are on
record with the OCCC, are less than 10 years old, and have been processed
by both the Texas Department of Public Safety and the Federal Bureau
of Investigation. Upon request, individuals and principal parties
previously licensed by the OCCC may be required to submit a new set
of fingerprints.
(v) For individuals who have previously submitted fingerprints
to another state agency (e.g., Texas Department of Savings and Mortgage
Lending), fingerprints are still required to be submitted under Texas
Finance Code, §14.152. Fingerprints cannot be disclosed to others,
except as authorized by Texas Government Code, §560.002.
(B) Entity documents.
(i) Partnerships. A partnership applicant must submit
a complete and executed copy of the partnership agreement. This copy
must be signed and dated by all partners. If the applicant is a limited
partnership or a limited liability partnership, provide evidence of
filing with the Texas Secretary of State and a certificate of good
standing from the Texas Comptroller of Public Accounts.
(ii) Corporations. A corporate applicant, domestic
or foreign, must provide the following documents:
(I) a complete copy of the articles of incorporation
and any amendments;
(II) a certification from the secretary of the corporation
identifying the current officers and directors as listed in the owners
and principal parties section of the application;
(III) a certificate of good standing from the Texas
Comptroller of Public Accounts;
(IV) if the registered agent is not the same as the
one filed with the Texas Secretary of State, a certification from
the secretary of the corporation identifying the registered agent;
(V) if requested, a copy of the relevant portions of
the bylaws addressing the required number of directors and the required
officer positions for the corporation; and
(VI) if requested, a copy of the minutes of corporate
meetings that record the election of all current officers and directors
as listed in the owners and principal parties section of the application.
(iii) Publicly held corporations. In addition to the
items required for corporations, a publicly held corporation must
file the most recent 10K or 10Q for the applicant or for the parent
company.
(iv) Limited liability companies. A limited liability
company applicant, domestic or foreign, must provide the following
documents:
(I) a complete copy of the articles of organization;
(II) a certification from the secretary of the company
identifying the current officers and directors as listed in the owners
and principal parties section of the application;
(III) a certificate of good standing from the Texas
Comptroller of Public Accounts;
(IV) if the registered agent is not the same as the
one filed with the Texas Secretary of State, a certification from
the secretary of the corporation identifying the registered agent;
(V) if requested, a copy of the relevant portions of
the operating agreement or regulations addressing responsibility for
operations; and
(VI) if requested, a copy of the minutes of company
meetings that record the election of all current officers and directors
a listed in the owners and principal parties section of the application.
(v) Trusts. A copy of the relevant portions of the
instrument that created the trust addressing management of the trust
and operations of the applicant must be filed with the application.
(vi) Estates. A copy of the instrument establishing
the estate must be filed with the application.
(vii) Foreign entities. In addition to the items required
by this section, a foreign entity must provide:
(I) a certificate of authority to do business in Texas,
if applicable; and
(II) a statement of where records of Texas pawn transactions
will be kept. If these records will be maintained at a location outside
of Texas, the applicant must acknowledge responsibility for the travel
costs associated with examinations in addition to the usual assessment
fee or agree to make all the records available for examination in
Texas.
(viii) Formation document alternative. As an alternative
to the entity-specific formation document applicable to the applicant's
entity type (e.g., for a corporation, articles of incorporation),
an applicant may submit a "certificate of formation" as defined in
Texas Business Organizations Code, §1.002, if the certificate
of formation provides the entity formation information required by
this section for that entity type.
(C) Map. Each applicant must provide a map that shows
the following:
(i) the area where the proposed license will be situated;
(ii) the site of the proposed pawnshop;
(iii) the location, including the name and address,
of each pawnshop within three miles of the site of the proposed pawnshop
location; and
Cont'd... |
