In addition to the other requirements of this chapter, each application for a license, except for a cash buyer’s license, shall include an affidavit in which the applicant affirms that he or she is current in making all payments required under undisputed contract agreements, and that he or she will do all of the following:
(a) Abide by all provisions of this chapter and Chapter 6 (commencing with Section 55401).
(b) Will prepare and retain financial records adequate to document all transactions with suppliers.
(c) Will prepare and retain current financial information, including, but not limited to, profit-and-loss statements and a balance sheet that presents fairly the financial condition as of the applicant’s most recent yearend.
The affidavit shall be on a form prescribed by the secretary and shall be submitted under penalty of perjury.
(Added by renumbering Section 56189 (as renumbered from 56252 by Stats. 1997, Ch. 696) by Stats. 2010, Ch. 382, Sec. 5. (AB 2240) Effective January 1, 2011.)