California Code of Regulations
Title 16 - Professional and Vocational Regulations
Division 27 - Bureau of Electronic and Appliance Repair
Article 5.5 - Service Contractors
Section 2757.4 - Subsidiary Corporation Filing a Form 10-K

Universal Citation: 16 CA Code of Regs 2757.4
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

A service contract seller which is a majority-owned subsidiary of another (parent) corporation may demonstrate its financial responsibility as required by Sections 9855.2(a)(1) and 9855.3(c)(1) of the Code by filing, with its application for registration or renewal, either a copy of the Form 10-K of its parent corporation or, where its parent corporation is a foreign corporation, a Form 10-K substitute as specified in section 2757.3, provided that such filing includes a statement signed by an authorized officer of the parent corporation evidencing a full guarantee by the parent corporation of the service contract obligations of the subsidiary corporation. Absent such a guarantee from the parent corporation, the service contract seller shall comply with the financial responsibility requirements of the law using one of the other means provided for in Sections 9855.2(a) and 9855.3(c) of the Code.

1. New section filed 9-21-95; operative 10-21-95 (Register 95, No. 38).

Note: Authority cited: Section 9814, Business and Professions Code. Reference: Sections 9855.2 and 9855.3, Business and Professions Code.

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