760 Ind. Admin. Code 1-41-2
Authority: IC 27-1-25-14
Affected: IC 27-1-25-11
Sec. 2.
Each application for issuance of a certificate of registration or renewal of a certificate of registration shall be accompanied by the applicant's current financial statement. A financial statement, for purposes of this rule, consists of a financial statement that is prepared in a manner consistent with generally accepted accounting principles (GAAP) and is accompanied by either an opinion by an independent accounting firm or a statement by an officer of the entity being registered as an administrator, representing that the financial statement was prepared in a manner consistent with GAAP and accurately reflects the financial condition of the entity. The financial statement must reflect a positive net worth in order to be acceptable as proof of the applicant's financial responsibility.
760 IAC 1-41-2