Sec. 25. In addition to the items listed in section 24 of this chapter, if an applicant for licensure under this chapter is not organized as a sole proprietorship, the applicant must provide the following items and information relating to the applicant's organizational structure:

(1) State of incorporation or organization.

(2) Date of incorporation or organization.

(3) A certificate from the state in which the applicant was incorporated or organized stating that the entity is in good standing, or an equivalent certification from the state in which the applicant was incorporated or organized.

(4) A description of the organizational structure of the applicant, including the following:

(A) The identity of the parent of the applicant.

(B) The identity of each subsidiary of the applicant.

(C) The names of the stock exchanges, if any, in which the applicant, the parent, and the subsidiaries are publicly traded.

(5) The:

(A) name;

(B) business address;

(C) residence address; and

(D) employment history;

for each individual described in section 35(b)(2) or 35(b)(3) of this chapter.

(6) The:

(A) history of material litigation; and

(B) history of criminal convictions for felonies involving fraud, deceit, or misrepresentation under the laws of Indiana or any other jurisdiction;

for each individual described in section 35(b)(2) or 35(b)(3) of this chapter.

(7) Except as provided in subdivision (8), copies of the applicant's audited financial statements for the current year and, if available, for the preceding two (2) years, including a:

(A) balance sheet;

(B) statement of income or loss;

(C) statement of changes in shareholder equity; and

(D) statement of changes in financial position.

A financial statement required to be submitted under this subdivision must be prepared, by an independent certified public accountant authorized to do business in the United States, in accordance with AICPA Statements on Standards for Accounting and Review Services (SSARS) and in accordance with United States generally accepted accounting principles.

(8) If the applicant is a wholly owned subsidiary of:

(A) a corporation or other organization publicly traded in the United States, financial statements for the current year or the parent corporation's or parent organization's Form 10K reports filed with the United States Securities and Exchange Commission for the preceding three (3) years may be submitted with the applicant's unaudited financial statements; or

(B) a corporation or other organization publicly traded outside the United States, similar documentation filed with the parent corporation's or parent organization's non-United States regulator may be submitted with the applicant's unaudited financial statements and may be accepted at the discretion of the director. The department reserves the right to request unaudited financial statements prepared in accordance with United States generally accepted accounting principles.

(9) Copies of 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, not more than one (1) year before the date of filing of the application.

As added by P.L.42-1993, SEC.85. Amended by P.L.213-2007, SEC.77; P.L.217-2007, SEC.75; P.L.3-2008, SEC.224; P.L.90-2008, SEC.57; P.L.1-2009, SEC.150; P.L.89-2011, SEC.57; P.L.216-2013, SEC.50; P.L.69-2018, SEC.62.