| (v) If the applicant is a trust or estate, the trustee
or executor, as appropriate, must sign.
(2) Other required filings.
(A) Fingerprints.
(i) For all persons meeting the definition of "principal
party" as defined in §89.301 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)(A)(iv)(III)(-a-) 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 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 in order to complete the OCCC's records.
(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 for license form;
(III) if the registered agent is not the same as the
one on file with the Office of the Texas Secretary of State, a certification
from the secretary of the corporation identifying the registered agent;
(IV) 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;
(V) 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
for license form;
(VI) if requested, a certificate of good standing from
the Texas Comptroller of Public Accounts.
(iii) Publicly held corporations. In addition to the
items required for corporations, a publicly held 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 for license form;
(III) if the registered agent is not the same as the
one on file with the Office of the Texas Secretary of State, a certification
from the secretary of the company identifying the registered agent;
(IV) if requested, a copy of the relevant portions
of the operating agreement or regulations addressing responsibility
for operations;
(V) if requested, a copy of the minutes of company
meetings that record the election of all current officers and directors
as listed in the owners and principal parties section of the application
for license form;
(VI) if requested, a certificate of good standing from
the Texas Comptroller of Public Accounts.
(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 a certificate of authority
to do business in Texas, if applicable.
(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.
(D) 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.
Cont'd... |
