32-11-302. Acquiring control of licensee — application — determination
32-11-302. Acquiring control of licensee — application — determination. (1) A person may not acquire control of a licensee without the prior approval of the department. (2) The department shall approve an application to acquire control of a licensee if the department determines that: (a) the applicant and the directors and officers of the applicant are of good […]
32-11-303. Merger — purchase — sale
32-11-303. Merger — purchase — sale. (1) A licensee may not merge with another corporation unless the merger is approved by the department, and, if the licensee is not the surviving corporation, the surviving corporation is a licensee. (2) A licensee may not purchase all or substantially all of the business of another person unless the purchase […]
32-11-213. and 32-11-214 reserved
32-11-213 and 32-11-214 reserved.
32-11-304. Records and report requirements
32-11-304. Records and report requirements. (1) A licensee shall make and keep books, accounts, and other records in the form and manner, at the place, and for the period of time that the department establishes. (2) A licensee, an affiliate of a licensee, and a subsidiary of a licensee shall file with the department the reports that […]
32-11-215. Board of directors
32-11-215. Board of directors. (1) The board of directors of a licensee must have at least seven directors. (2) The board of directors shall hold at least one meeting each calendar quarter. History: En. Sec. 13, Ch. 411, L. 2007.
32-11-305. Records kept by others
32-11-305. Records kept by others. (1) If a person other than a licensee makes or keeps all or part of the books, accounts, or other records of the licensee, this chapter applies to the person with respect to the books, accounts, and other records to the same extent as if the person were the licensee. (2) If […]
32-11-216. Notice of officer and director changes
32-11-216. Notice of officer and director changes. Within 30 days after each of the following events, the licensee shall notify the department in writing of the event and provide any additional information that the department requires: (1) the death, resignation, or removal of a director or officer; (2) the election of a director; or (3) the appointment of an […]
32-11-306. Information on economic development effect
32-11-306. Information on economic development effect. Each year in which a person is licensed under this chapter, the department shall publish and provide a report to the legislature in accordance with 5-11-210 on the effect of this chapter on promoting economic development in the state. The information must include aggregate statistics on: (1) the number and dollar […]
32-11-203. Fees — special revenue account
32-11-203. Fees — special revenue account. (1) A fee for filing an application with the department must be paid at the time the application is filed with the department and is not refundable. A person shall pay the department: (a) $5,000 for filing an application for a license; (b) $1,250 for filing an application for approval to acquire […]
32-11-204. Criteria for directors, officers, and controlling persons
32-11-204. Criteria for directors, officers, and controlling persons. (1) A license may be issued only if the department determines that each director, officer, and controlling person of the applicant is: (a) of good character and sound financial standing; (b) competent to perform the director’s, officer’s, or controlling person’s functions for the applicant; and (c) when considered collectively with the […]