N.H. Admin. Code § Jus 1405.11

Current through Register No. 50, December 12, 2024
Section Jus 1405.11 - Financial Statements
(a) The financial statements required by Jus 1405.07 shall be the declarant'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 or certified 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) Statements required by (a), above, shall include:
(1) A balance sheet;
(2) An income statement; and
(3) A cash flow statement.
(c) The statements shall be no more than 6 months old on the date the application is filed.
(d) The requirements of (a) - (d) above shall not be fulfilled by submission of a financial compilation.
(e) 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 declarant 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.
(f) The interim statements referred to in (e), above may be prepared by company personnel but shall contain:
(1) A balance sheet;
(2) An income; and
(3) A cash flow statement.
(g) These interim statements referred to in (e) above shall be prepared in accordance with generally accepted accounting principles and shall be certified or reviewed as provided above.
(h) If the declarant 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.
(i) If the declarant is a subsidiary company, the bureau shall permit the use of the certified 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.
(j) If the declarant proceeds pursuant to (i) above, the declarant shall submit the following:
(1) The certified financial statements of the parent company, together with interim statements if necessary, which comply with Jus 1405.11(a) - (e); and
(2) A properly executed guaranty..

N.H. Admin. Code § Jus 1405.11

(See Revision Note at chapter heading for Jus 1400) #9783-A, eff 9-11-10

Amended by Volume XXXIX Number 46, Filed November 14, 2019, Proposed by # 12910, Effective 10/24/2019, Expires 10/24/2029.