§ 53-208.53. Reporting.

326 words·~1 min read·/nc/chapter-53/53-208-53

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(a)Annual Report. No later than 90 days after the end of the calendar year, licensees shall file an annual report in a form prescribed by the Commissioner through NMLS, which shall include:

(1)A copy of its most recent audited consolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity, if applicable, and statement of changes in financial position, or, in the case of a licensee that is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee's audited financial statement;

(2)The total amount of outstanding transmission obligations;

(3)Any material changes to any of the information submitted by the licensee on its original application, which have not been previously reported to the Commissioner on any other report required to be filed under this Article;

(4)Copies of bank statements and other documentation necessary to document the existence and quality of the licensee's permissible investments; and

(5)A list of the branch offices at which business regulated by this Article is being conducted by either the licensee or its authorized delegates.

(b)Quarterly Reports. No later than 60 days after the calendar quarter has ended, licensees shall file a quarterly call report in a form prescribed by the Commissioner through NMLS, which shall at a minimum include:

(1)The number and dollar volume of money transmission transactions in the State by activity type; and

(2)The total amount of outstanding transmission obligations.

(c)Other Reports of Condition. A licensee shall submit to the Commissioner through the NMLS reports of condition and any other reports requested by the Commissioner in order to carry out the purposes of this Article.

(d)Timely Reporting. - Failure to timely submit any reports required under this section is grounds for summary suspension pursuant to G.S. 53-208.57(d)(2). (2016-81, s. 1; 2017-102, ss. 14.1(e), 46.)