| (vii) Foreign entities. In addition to the items required
by this section, a foreign entity must provide a certificate of authority
to do business in Texas, if applicable.
(C) Financial statement and supporting financial information.
(i) All entity types. The financial statement must
be dated no earlier than 90 days prior to the date of application.
Applicants may also submit audited financial statements dated within
one year prior to the application date in lieu of completing the Supporting
Financial Information. All financial statements must be certified
as true, correct, and complete, and must comply with generally accepted
accounting principles (GAAP).
(ii) Sole proprietorships. Sole proprietors must complete
all sections of the Personal Financial Statement and the Supporting
Financial Information, or provide a personal financial statement that
contains all of the same information requested by the Personal Financial
Statement and the Supporting Financial Information. The Personal Financial
Statement and Supporting Financial Information must be as of the same
date.
(iii) Partnerships. A balance sheet for the partnership
itself as well as each general partner must be submitted. In addition,
the information requested in the Supporting Financial Information
must be submitted for the partnership itself and each general partner.
All of the balance sheets and Supporting Financial Information documents
for the partnership and all general partners must be as of the same
date.
(iv) Corporations and limited liability companies.
Corporations and limited liability companies must file a balance sheet.
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. 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.
(D) 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, Chapter 71. 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, Chapter
71. 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.
(E) Third-party lender organizations. As required by
Texas Finance Code, §393.604(a)(4), each applicant must provide
the names, physical addresses, and telephone numbers of the third-party
lender organizations with which the business contracts to provide
services or from which the business arranges extensions of consumer
credit.
(F) Bond. The commissioner may require a bond under
Texas Finance Code, §393.605, if the commissioner finds that
this would serve the public interest. If a bond is required, the commissioner
will give written notice to the applicant. Should a bond not be submitted
within 40 calendar days of the date of the commissioner's notice,
any pending application may be denied.
(3) Subsequent applications for branch offices.
(A) Branch applications received after 90 days from
last new or transfer license approval. If the applicant is currently
licensed and filing an application for a new office after 90 days
from its last new or transfer license approval, the applicant must
submit a new application as provided by this section. Required information
need not be resubmitted if the information on file with the OCCC is
current and valid. All fees for new licenses required by §83.3010(a)
of this title (relating to Fees) must be paid for each new branch
location.
(B) Branch applications received within 90 days from
last new or transfer license approval. If the applicant is currently
licensed and filing an application for a new office within 90 days
from its last new or transfer license approval, and no action, fact,
or information has changed that would require a materially different
answer than that given in the last new or transfer license application,
the applicant must provide the following information:
(i) the branch consent form verifying that there have
been no changes from the last application, signed by an authorized
individual as provided by paragraph (1)(E) of this section;
(ii) the location information and responsible person
for each new branch location, as provided by paragraph (1)(A)(i) and
(ii) of this section;
(iii) the fees required by §83.3010(a) of this
title must be paid for each new branch location, with the exception
of the $200 investigation fee;
(iv) if requested, a new financial statement as provided
in paragraph (2)(C) of this section; and
(v) if requested, any other information required by
the commissioner that may be necessary to process the branch application.
(C) Last new or transfer license approval. For purposes
of this section, a subsequent branch application filed under subparagraph
(B) of this paragraph does not qualify as the "last new or transfer
license approval."
|
| Source Note: The provisions of this §83.3002 adopted to be effective November 10, 2011, 36 TexReg 7518; amended to be effective September 6, 2012, 37 TexReg 6911; amended to be effective January 7, 2016, 41 TexReg 112; amended to be effective January 5, 2017, 41 TexReg 10563 |
