Minnesota Administrative Rules
Agency 133 - Secretary of State
Chapter 8275 - ELECTRONIC AUTHENTICATION
Part 8275.0030 - WORKING CAPITAL
Current through Register Vol. 48, No. 39, March 25, 2024
Subpart 1. Generally.
A certification authority's working capital is sufficient for licensing or renewal purposes if, at the time application for licensure or renewal is made, its current assets minus current liabilities exceeds $50,000.
The existence of working capital must be demonstrated through an audited financial statement authenticated by a licensed certified public accountant and dated no more than 60 days before the date it is received by the secretary.
Subp. 2. Governmental entities.
A federal, state, or city governmental entity is considered to have sufficient working capital without providing any documentation.
Statutory Authority: MS s 325K.01; 325K.03; 325K.04; 325K.05; 325K.06; 325K.07
