(a) Any person making any filing or submission of any information on the system shall do so in accordance with the procedures and requirements of the system and pay the applicable fees or charges to the system. Licensees shall complete any reports of condition and any reports relating to authorized delegates required by the system. Any such report shall be timely and accurately filed on the system in accordance with the due dates and formats required by the system.
(b) Each licensee shall file with the commissioner not later than ninety days from the licensee's fiscal year end:
(1) A copy of audited financial statements for the most recent fiscal year. If the licensee is a wholly-owned subsidiary of another corporation, it shall file (A) the most recent audited consolidated annual financial statements of the parent corporation or the licensee's most recent audited consolidated annual financial statement, and (B) the most recent audited unconsolidated financial statement of the licensee, including its balance sheet and receipts and disbursements for the preceding year. If the licensee is publicly traded, it shall file a copy of the most recent 10-K report that was filed with the Securities and Exchange Commission or, if the licensee is a wholly-owned subsidiary of a publicly-traded company, a copy of the parent company's most recent 10-K report that was filed with said commission. If the licensee or parent company of a wholly-owned subsidiary licensee is publicly traded on a foreign exchange, it shall file a copy of documentation similar to the 10-K report that was filed with the applicable securities regulator;
(2) To the extent it is not already captured by a report of condition, a list of permissible investments, the book and market value of such investments, and the dollar amount of the licensee's aggregate outstanding money transmissions; and
(3) To the extent it is not already captured by a report of condition, a list of investments maintained in accordance with subsection (d) of section 36a-602, if applicable, the book and market values of such investments and the dollar amount of the licensee's aggregate outstanding money transmissions in this state.
(c) The lists and other information filed as provided in subdivisions (2) and (3) of subsection (b) of this section shall be as of the same date as the financial statement filed in accordance with subdivision (1) of subsection (b) of this section.
(d) The commissioner may require of any licensee such additional reports, under oath, certified, or otherwise, concerning such licensee's business in this state as the commissioner may consider necessary for the enforcement of sections 36a-595 to 36a-612, inclusive. Any licensee that fails to timely and accurately furnish any report required by this section shall be in violation of this section.
(P.A. 81-264, S. 13; P.A. 94-122, S. 282, 340; P.A. 01-56, S. 13; P.A. 04-14, S. 11; P.A. 13-253, S. 12; P.A. 18-173, S. 57.)
History: P.A. 94-122 changed “he” to “the commissioner”, effective January 1, 1995; Sec. 36-542 transferred to Sec. 36a-606 in 1995; P.A. 01-56 amended Subsec. (a)(2) and (3) by changing “instruments” to “payment instruments”; P.A. 04-14 amended Subsec. (a)(3) to substitute “subsection (c)” for “subsection (b)” in reference to Sec. 36a-602 and to add reference to “stored value”, effective April 16, 2004; P.A. 13-253 amended Subsec. (a) to replace former provisions with requirement that licensee file a copy of audited financial statements for most recent fiscal year or the most recent 10-K report or similar report in Subdiv. (1), to change “payment instruments” to “money transmissions” in Subdiv. (2) and to change “(c)” to “(d)” and “Connecticut payment instruments and stored value” to “money transmissions in this state” in Subdiv. (3), and amended Subsec. (c) to add reference to Secs. 36a-611 and 36a-612; P.A. 18-173 amended Subsec. (a) by replacing provisions re information to be filed with commissioner with provisions re submission of information on system and licensee's completion of reports, added new Subsec. (b) re information to be filed with commissioner not later than 90 days from licensee's fiscal year end, redesignated Subsecs. (a)(1) to (3) as Subsecs. (b)(1) to (3), replaced reference to report filed pursuant to Subpara. (C) with reference to 10-K report in redesignated Subsec. (b)(1), added “To the extent it is not already captured by a report of condition,” in redesignated Subsecs. (b)(2) and (3), redesignated existing Subsecs. (b) and (c) as Subsecs. (c) and (d), amended redesignated Subsec. (d) by adding provision re licensee's failure to timely and accurately furnish report, and made technical and conforming changes.