Current through Register Vol. 56, No. 18, September 16, 2024
(a) Pursuant to
N.J.S.A. 5:12-87.1,
qualifying entities are required to submit documentation demonstrating their
continued fitness for licensure at least every five years. In submitting their
license retention documentation, business entities should follow the same
document submission procedure set forth in N.J.A.C.
13:69A-5.6 or 13:69A-5.6C and 5.6D,
as applicable, for initial licensure, taking into account the following
exceptions, as applicable. If any of the following documentation has been
submitted to the Division prior to the filing by the business entity of its
five-year BED-Resubmission, such documentation can be omitted from the
Resubmission, so long as it references what documentation was submitted during
the intervening five-year period with relevant time frames:
1. Annual reports to shareholders or Form 10K
filings in accordance with N.J.A.C.
13:69A-5.6(a)29 or
5.6C(a)25, as applicable, and 13:69C-8.6 and 8.7;
2. Annual financial statements along with
exceptions taken by an independent auditor and the business entity's response
in accordance with N.J.A.C.
13:69A-5.6(a)29 or
5.6C(a)25, as applicable, and 13:69C-8.4(b);
3. Registration Statements filed in
accordance with the Securities Act of 1933 in accordance with
N.J.A.C.
13:69A-5.6(a)29 or
5.6D(a)20, as applicable, and 13:69C-8.6;
4. Any other documentation from an
independent auditor relating to the business entity's financial statements,
managerial advisory services or internal controls that have not otherwise been
submitted to the Division in accordance with N.J.A.C.
13:69A-5.6(a)29 or
5.6C(a)25, as applicable, and 13:69C-8.4(d);
5. Copies of the business entity's applicable
Federal Tax Returns in accordance with N.J.A.C.
13:69A-5.6(a)32
through 34 or 5.6C(a)25, as applicable, and 13:69C-8.5;
6. The minutes, reports and schedule for all
of the business entity's board and committee meetings in accordance with
13:69C-8.1(b);
7. Any amendments to, restatements of, or
superseding versions of the business entity's formation or governing documents
in accordance with
13:69C-8.2(a);
8. Financial information pertaining to profit
sharing agreements in accordance with
13:69C-8.3;
9. Annual financial projections in accordance
with 13:69C-8.4(a);
and
10. Quarterly unaudited
financial statements in accordance with
13:69C-8.4(c).
