Current through Register Vol. 54, No. 44, November 2, 2024
(a) A person, firm,
association, group or corporation which holds a concession, right or privilege
to perform a service or sell an item at a nonprimary location operated by a
licensed corporation shall be licensed by the Commission and shall submit to
the Commission a copy of each report, advice or other document which that
person, firm, association, group or corporation furnishes or is required to
furnish to the licensed corporation to substantiate rentals, service fees or
similar financial or business arrangements between the parties.
(b) A person, firm, association, group or
corporation operating a concession, performing a service or selling an item at
a nonprimary location shall submit the following reports to the Commission:
(1) An audited profit and loss statement
reflecting its operations at each nonprimary location. This report shall state
the gross revenues derived during the reporting period as well as expenses paid
or accrued during the reporting period. Income and expense items shall be shown
in detail. This profit and loss statement shall be filed with the Commission by
January 31 and reflect operations during the preceding calendar year.
(2) Certified financial statements, including
a Balance Sheet, Income Statement and a Statement of Change In Financial
Position. These financial statements shall be submitted within 75 days of the
end of the calendar year in the case of a person, or the fiscal year in the
case of a firm, association, group or corporation.
(3) Upon request of the Commission:
(i) Copies of weekly payrolls of persons
employed at a nonprimary location including the name and address of each
person.
(ii) Copies of written
contracts and agreements and a summary of verbal contracts and agreements at a
nonprimary location.
(iii) A list
of the owners of the firm, association, group or corporation.
(iv) A list of the officers and directors and
the compensation paid to each of them.
(4) Upon the sale or transfer of an ownership
interest in a concessionaire, an affidavit setting forth the information
required by section 204 of the act (4 P. S. §
325.204) and Chapter 165, Subchapter C
(relating to issuance and transfer of stock).
