(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 if the commissioner
believes they are relevant. The financial information for the corporate
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 if the commissioner
believes they are relevant. The financial information for the trust
or estate applicant should contain no personal financial information.
(K) Assumed name certificates. For any 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 applicants. Incorporated 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 Office 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 §83.301 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 section 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 OCCC 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 to the OCCC,
as per Texas Finance Code, §14.152. Fingerprints cannot be disclosed
to others, except as authorized by Texas Government Code, §560.002.
(B) Loan forms. The applicant must provide information
regarding all loan forms it intends to use.
(i) Custom forms. If a custom loan form is to be prepared,
a preliminary draft or proof that is complete as to format and content
and which indicates the number and distribution of copies to be prepared
for each transaction must be submitted.
(ii) Stock forms. If an applicant purchases or plans
to purchase stock forms from a supplier, the applicant must include
a statement that includes the supplier's name and address and a list
identifying the forms to be used, including the revision date of the
form, if any.
(C) 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 Office of the Texas Secretary of State.
(ii) Corporations. A corporate applicant, domestic
or foreign, must provide the following documents:
(I) a complete copy of the certificate of formation
or articles of incorporation, with 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 Office of 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 Office of 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 loan 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.
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