| (a) The company representative is the individual to
whom the department may direct all correspondence and on whom the
department may rely to ensure the company's compliance with all requirements
of this chapter and the Act. This individual must meet the applicable
experience requirements for company licensure provided in the Act
and this chapter, and must successfully complete the examination as
provided in §1702.117 of the Act and §35.42 of this title
(relating to Examination).
(b) An applicant for a company license who is an individual
will be the company representative for all purposes relating to the
administration of the Act.
(c) An applicant for a company license that is an entity
other than an individual must designate an individual to be the company
representative. The individual must be an officer who is to oversee
the security-related aspects of the business, or a partner or shareholder
who owns at least a 25% interest in the applicant. Formal documentation
reflecting the individual's status with the applicant must be submitted
to the department in conjunction with the company license application.
An applicant may appoint multiple company representatives if necessary
to satisfy the experience requirements for multiple licenses, so long
as each individual meets the requirements of §1702.110(a)(6)
of the Act and of this section.
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