§489D-9  Application for license. 
(a)  An application for a license under this chapter shall be made in writing,
and in a form prescribed by the commissioner.  Each application shall contain
the following:



(1)  For all applicants:



(A)  The exact name of the applicant, any
fictitious or trade name used by the applicant in the conduct of its business,
the applicant's principal address, and the location of the applicant's business
records;



(B)  The history of the applicant's material
litigation and criminal convictions for the five-year period prior to the date
of the application;



(C)  A description of the business activities
conducted by the applicant and a history of operations;



(D)  A description of the business activities
in which the applicant seeks to engage within the State;



(E)  A list identifying the applicant's
proposed authorized delegates in the State, if any, at the time of the filing
of the license application;



(F)  A sample authorized delegate contract, if
applicable;



(G)  A sample form of payment instrument, if
applicable;



(H)  The locations where the applicant and its
authorized delegates, if any, propose to conduct their licensed activities in
the State;



(I)  The name and address of the clearing bank
or banks on which the applicant's payment instruments will be drawn or through
which payment instruments will be payable;



(J)  Disclosure of any pending or final
suspension, revocation, or other enforcement action by any state or
governmental authority for the five-year period prior to the date of the
application; and



(K)  Any other information the commissioner may
require;



(2)  If the applicant is a corporation, the applicant
shall also provide:



(A)  The date of the applicant's incorporation
and state of incorporation;



(B)  A certificate of good standing from the
state in which the applicant was incorporated;



(C)  A description of the corporate structure
of the applicant, including the identity of any parent or subsidiary company of
the applicant, and the disclosure of whether any parent or subsidiary company
is publicly traded on any stock exchange;



(D)  The name, business and residence address,
and employment history, for the past five years, of the applicant's executive
officers and the officers or managers who will be in charge of the applicant's
activities to be licensed under this chapter;



(E)  The name, business and residence address,
and employment history of any key shareholder of the applicant, for the period
of five years before the date of the application;



(F)  For the five-year period prior to the date
of the application, the history of material litigation involving, and criminal
convictions of, every executive officer or key shareholder of the applicant;



(G)  A copy of the applicant's most recent
audited financial statement, including balance sheets, statements of income or
loss, statements of changes in shareholder equity and statement of changes in
financial position, and, if available, the applicant's audited financial
statements for the preceding two-year period or, if the applicant is a wholly
owned subsidiary of another corporation, either the parent corporation's
consolidated audited financial statements for the current year and for the
preceding two-year period, or the parent corporation's Form 10-K reports filed
with the United States Securities and Exchange Commission for the prior three
years in lieu of the applicant's financial statements, or if the applicant is a
wholly owned subsidiary of a corporation having its principal place of business
outside the United States, similar documentation filed with the parent
corporation's non-United States regulator;



(H)  Copies of all filings, if any, made by the
applicant with the United States Securities and Exchange Commission, or with a
similar regulator in a country other than the United States, within the year
preceding the date of filing of the application; and



(I)  Information necessary to conduct a
criminal history record check in accordance with section 846-2.7 of each of the
executive officers, key shareholders, and managers who will be in charge of the
applicant's activities, accompanied by the appropriate payment of the
applicable fee for each record check; and



(3)  If the applicant is not a corporation, the
applicant shall also provide:



(A)  The name, business and residence address,
personal financial statement, and employment history, for the past five years,
of each principal of the applicant;



(B)  The name, business and residence address,
and employment history, for the past five years, of any other persons who will
be in charge of the applicant's activities to be licensed under this chapter;



(C)  The place and date of the applicant's
registration or qualification to do business in this State;



(D)  The history of material litigation and
criminal convictions for the five-year period before the date of the
application for each individual having any ownership interest in the applicant
and each individual who exercises supervisory responsibility over the
applicant's activities;



(E)  Copies of the applicant's audited
financial statements, including balance sheets, statements of income or loss,
and statements of changes in financial position for the current year and, if
available, for the preceding two-year period; and



(F)  Information necessary to conduct a criminal
history record check in accordance with section 846-2.7 of each principal of
the applicant, accompanied by the appropriate payment of the applicable fee for
each record check.



(b)  The commissioner, for good cause may:



(1)  Waive any requirement of this section relating to
any license application; or



(2)  Permit an applicant to submit substituted
information in its license application in lieu of the information required by
this section. [L 2006, c 153, pt of §1; am L 2008, c 195, §5]