14 .0202 - INFORMATION REQUIRED AFTER ORGANIZATIONAL MEETING

14 .0202. INFORMATION REQUIRED AFTER ORGANIZATIONAL MEETING

In accordance with the procedures established by G.S. 58-7-40, the following information shall be submitted to the Commissioner for approval prior to the issuance of a certificate of authority to a newly organized company:

(1) a certificate of proceedings of the organizational meeting setting forth a copy of the articles of incorporation with the names of the subscribers thereto; the date of the first meeting and of any adjournments thereof; certified copies of the minutes of the meeting; certified copies of the bylaws; an opening balance sheet of the Company's books and records and confirmation of the initial capitalization funds in escrow or otherwise, for the company; and

(2) duly prepared and executed forms furnished by the Commissioner as follows:

(a) check sheet and analysis of application for admission in the form described in 11 NCAC 14 .0414;

(b) application for license in the form described in 11 NCAC 14 .0432;

(c) power of attorney for service of legal process in the form described in 11 NCAC 14 .0416; and

(d) power of attorney to sell securities on deposit in the form described in 11 NCAC 14 .0417.

(Authority G.S. 58-2-40; 58-5-30; 58-7-35; 58-7-40; 58-16-30; Eff. February 1, 1976; Readopted with Change Eff. January 22, 1980; Amended Eff. July 1, 2004; February 1, 1996; April 1, 1990.)

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