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§ 50.3116. Information Regarding Controlling Persons and Affiliates.

10 CA ADC § 50.3116Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 1. Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 50. Business and Industrial Development Corporations
Article 4. Issuance of License
Subarticle 2. Application
10 CCR § 50.3116
§ 50.3116. Information Regarding Controlling Persons and Affiliates.
Currentness
(a) In this section, “subject person,” when used with respect to the applicant, means:
(1) Any individual who controls or is proposed to control the applicant; or (2) Any person (other than an individual) which controls or is proposed to control the applicant or which otherwise is or is proposed to be an affiliate of the applicant (including, in case such person consists of a group of persons acting in concert, each person who is a member of such group).
(b) State whether or not there is any subject person of the applicant, and, if so, provide a table showing, with respect to each subject person of the applicant:
(1) Name.
(2) Type of person (that is, individual, corporation, partnership, etc.).
(3) Relationship to the applicant.
(c) With respect to each subject person named in the table called for in subdivision (b) of this section who is an individual and who is neither a director nor an officer of the applicant:
(1) State:
(A) Name.
(B) Business address.
(C) Home address.
(D) Business or occupation.
(E) Amount and types of securities of the applicant which the subject person owns, or proposes to own, directly or indirectly, of record or beneficially.
(2) Provide a personal financial statement in the form of Department Form 2, containing the information called for therein, dated as of a date within 90 days before the filing of the application, and signed by the subject person.
(3) Provide a confidential resume in the form of Department Form 3, containing the information called for therein, dated as of a date within 90 days before the filing of the application, and signed by the subject person.
(4) Provide a statement dated as of a date within 90 days before the filing of the application and signed by the subject person, stating:
(A) Amount and types of securities of the applicant which the subject person owns or proposes to own, directly or indirectly, of record or beneficially, and, if the purchase of any such securities was financed or is proposed to be financed, the amount financed or proposed to be financed, the person from whom the subject person obtained or proposes to obtain such financing, and the source of funds with which the subject person proposes to repay financing.
(B) Business experience of the subject person, including, with respect to each position held, title, description of duties, name and address of employer, period of employment, and reason for leaving.
(d) With respect to each subject person named in the table called for in subdivision (b) of this section which is a corporation:
(1) State:
(A) Name.
(B) Address of principal executive office.
(C) Description of business.
(D) Amount and types of securities of the applicant which the subject person owns or proposes to own, directly or indirectly, of record or beneficially.
(2) Provide a table showing, with respect to each director, executive officer, and person who owns, directly or indirectly, of record or beneficially, five percent equity security owner of the subject person:
(A) Name.
(B) Relationship to the subject person.
(3) Provide the following financial statements of the subject person:
(A) Balance sheet as of a date within 120 days before the filing of the application.
(B) If the balance sheet called for in subparagraph (A) of this paragraph (3) is not as of the end of a fiscal year of the subject person, a balance sheet as of the end of the fiscal year of the subject person next preceding the date of such balance sheet.
(C) Statement of income, statement of cash flows, and statement of shareholders' equity for each of the three fiscal years of the subject person next preceding the date of the balance sheet called for in subparagraph (A) of this paragraph (3) and, if such balance sheet is not as of the end of a fiscal year of the subject person, a statement of income, a statement of cash flows, and a statement of shareholders' equity for the interim period from the date of the balance sheet called for in subparagraph (B) of this paragraph (3) to the date of the balance sheet called for in subparagraph (A) of this paragraph (3).
(4) Provide a copy of each of the last three annual reports of the subject person to its shareholders and a copy of any interim report of the subject person to its shareholders issued since the last annual report.
(5) In case the subject person is required to file reports pursuant to section 13 of the Securities Exchange Act of 1934 (15 U.S.C. section 78m), provide a copy of each of the last three such annual reports of the subject person and a copy of each quarterly or current report of the subject person filed since the last annual report.
(6) Provide a statement dated as of a date within 90 days before the filing of the application and signed by an officer of the subject person, stating the amount and types of securities of the applicant which the subject person owns, or proposes to own, directly or indirectly, of record or beneficially, and, if the purchase of any such securities was financed or is proposed to be financed, the amount financed or proposed to be financed, the person from whom the subject person obtained or proposes to obtain such financing, and the source of funds with which the subject person proposes to repay the financing.
(e) With respect to each subject person named in the table called for in subdivision (b) of this section which is neither an individual nor a corporation, provide information comparable to the information called for in subdivision (d) of this section.
(f)(1) In the case of a subject person who controls or is proposed to control the applicant, describe the extent to which and the manner in which the subject person controls or proposes to control the applicant.
(2) In all cases, state whether or not the subject person participates or proposes to participate in the management or operations of the applicant, and, if so, describe such participation.

Credits

Note: Authority cited: Section 31101, Financial Code. Reference: Section 31107, Financial Code.
History
1. Change without regulatory effect amending subsections (b), (d)(2), (d)(2)(B) and (d)(2)(C) filed 7-2-91 pursuant to section 100, title 1, California Code of Regulations (Register 91, No. 40).
2. Amendment of subsection (d)(3)(C) filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 10, § 50.3116, 10 CA ADC § 50.3116
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