Section Jus 1306.09 - Financial Statements(a) The financial statements required by Jus 1306.05 shall be the subdivider's financial statements for the last full fiscal year. These statements shall be prepared in accordance with generally accepted accounting principles, and shall be certified or reviewed by an independent licensed public accountant that they have been so prepared and that all adjustments necessary for a fair statement of the results for the periods shown have been included.(b) Financial statements shall:(1) Include the following: c. A cash flow statement; and(2) Be no more than 6 months old on the date the application is filed.(c) The requirements of Jus 1306.09(b) shall not be fulfilled by submission of a financial compilation.(d) If the statements are more than 6 months old at the date of submission of the application, or if the last full fiscal year has ended within the last 90 days and statements are not yet available, the subdivider may submit a copy of the statements for the previous full fiscal year and supplement them with interim statements so that the financial information is no more than 6 months old on the date that the application is submitted.(e) Interim statements: (1) May be prepared by company personnel; and(2) Shall contain: b. An income statement; andc. A cash flow statement.(f) The statements shall be prepared in accordance with generally accepted accounting principles and shall be certified or reviewed as provided in Jus 1306.09(a).(g) If the subdivider was formed no more than 18 months prior to the submission of an application for registration, an audited or unaudited balance sheet and statement of receipts and disbursements of funds may be submitted.(h) If the subdivider is a subsidiary company, the subdivider may use the certified or reviewed statements of the parent company, provided that those statements are accompanied by an unconditional guaranty that the parent company shall perform and fulfill the obligations of the subsidiary.(i) If the declarant proceeds pursuant to (h) above, the declarant shall submit the following: (1) The certified or reviewed financial statements of the parent company, together with interim statements if necessary, which comply with Jus 1306.09(a) - (d); and(2) A properly executed guaranty in a form acceptable to the bureau.N.H. Admin. Code § Jus 1306.09
(See Revision Note at chapter heading for Jus 1300) #9782-A, eff 9-11-10
Amended by Volume XXXIX Number 46, Filed November 14, 2019, Proposed by # 12656, Effective 10/24/2019, Expires 10/24/2029.