Section Jus 1405.20 - Annual Report(a) Pursuant to RSA 356-B:55, the annual report filed on or before April 1 of each year following the date of the original registration shall be filed with the "Annual Report" Form CPLC200, (August, 2019). (b) The report shall be accurate as of the date that the report is made out by the declarant, except for the financial statements, which shall reflect the declarant's financial condition as of the date no earlier than December 31 of the year immediately preceding the date of the annual report.(c) The declarant shall attach the following documents to Form CPLC200: (1) A copy of the revised public offering statement, if the declarant has made any changes to the public offering statement in the reporting year;(2) A copy of the revised property report from the United States Department of Housing and Urban Development, if any changes have been made to that report in the reporting year;(3) A copy of the amended bylaws or articles of the unit owners association, if any changes have been made to the bylaws or articles in the reporting year; (4) A copy of the amended statement of record filed with the United States Department of Housing and Urban Development, if any changes have been made to that statement in the reporting year;(5) A copy of the declarant's financial statement for the reporting year; and (6) A notarized affidavit affirming that all of the information contained in the annual report is true, correct, and complete.(d) The bureau shall provide a copy of Form CPLC200, (August, 2019) to each declarant at the time it issues an initial certificate of registration to the declarant or upon written request by the declarant or its counsel. (e) Notwithstanding (d) above, it shall be the responsibility of the declarant to file annual reports pursuant to (a) above, on or before April 1 of each year during which the declarant might be required to make such filing. Such responsibility shall not be dependent on reception by the declarants of any notice from the bureau that the annual report is or will be due pursuant to this section. (f) A declarant shall be exempted from filing an annual report pursuant to this section if it provides to the bureau its affidavit signed by the declarant if a natural person, or, if the declarant is a legally constituted entity, by an officer or principal thereof authorized to sign such affidavit, that all promised improvements in the condominium have been completed and all units sold or disposed of. (g) Notwithstanding any other provision of this section, a declarant shall complete and file with the bureau a supplement to the annual report within 5 business days of the occurrence of any of the following:(1) Reception by the declarant of a notice of foreclosure under any mortgage granted by the declarant affecting the condominium or any unit thereof; or (2) The filing of a petition for voluntary or involuntary bankruptcy by, or involving the declarant or any affiliate of the declarant under any chapter of the United States Bankruptcy Code, 11 U.S.C. 101 et seq. or of similar process under any state insolvency law. (h) The supplement to the annual report required by (g) above, shall be submitted in the form of an affidavit by the declarant, or a principal or officer of the declarant authorized to sign such affidavit, and shall bear the caption "FORM CPLC200-SUPPLEMENT." (i) A supplement to the annual report submitted pursuant to (g)(1) above shall contain the following information: (1) A description of the mortgage instrument being foreclosed upon, identifying by full name and address all parties secured thereunder, as well as any person or entity exercising any right of foreclosure thereunder; (2) The date, place and manner of any scheduled foreclosure sale or other disposition of all affected property; and (3) The date and manner of reception by the declarant of the notice of foreclosure. (j) The information required by (i) above may be provided by submitting to the bureau a copy of any notice provided to a declarant pursuant to RSA 479:25 together with an affidavit of the declarant or a principal or officer thereof authorized to sign such affidavit, in the form prescribed by (h) above certifying that, and specifying the date on which, declarant received the notice.(k) A supplement to the annual report submitted pursuant to (g)(2) above shall contain the following information:(1) The mailing address of the court in which the bankruptcy petition or other process has been filed;(2) The date of such filing; (3) Whether such filing is effected pursuant to the United States Bankruptcy Code, 11 U.S.C. 101 et seq., and if so, identifying the chapter of the Bankruptcy Code pursuant to which the filing is made; and (4) If the filing is made pursuant to an insolvency law of any state, the title of, and citation to the law, with a description of the form of protection sought by the filing, whether liquidation, reorganization, or the like. (l) Failure of the declarant to file its annual report pursuant to RSA 356-B:55 during any period of time during which it is required to do so, or failure to timely file any required supplement to the annual report pursuant to this section, or both, shall constitute an irreparable harm to the public interest, subject to issuance of a cease and desist order pursuant to RSA 356-B:61, II, requiring the declarant to file its annual report or supplement thereto within 30 days of the date of such order. Failure to comply with such order shall constitute adequate grounds for revocation or suspension of registration pursuant to RSA 356-B:62, I.N.H. Admin. Code § Jus 1405.20
(See Revision Note at chapter heading for Jus 1400) #9783-A, eff 9-11-10, paras (c), (d), (f), and (k); #9783-B, eff 9-11-10, paras (a), (b), (e), and (g)-(j)
Amended by Volume XXXIX Number 46, Filed November 14, 2019, Proposed by # 12910, Effective 10/24/2019, Expires 10/24/2029.