Idaho State Statutes - Idaho Attorney Directory

(1) Each licensee shall
file with the director an annual report, in a form prescribed by the director,
which form shall be sent by the director to each licensee no later than three
(3) months immediately preceding the thirtieth day of June of each year, or as
the director in his discretion, may determine. The licensee must include each
of the following in its annual renewal report:
(a) 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 and statement of changes in financial
position; or, in the case of a licensee that is a wholly owned subsidiary
of a parent corporation, the consolidated audited annual financial
statement of the parent corporation may be filed with the licensee's
unaudited annual financial statement. In the event any licensee does not
otherwise obtain audited financial statements, such licensee shall, in
lieu of audited financial statements required in this section, furnish the
director with federal income tax returns covering the required periods
together with copies of such unaudited, compiled or reviewed financial
statements as the licensee shall have prepared or obtained for other
purposes, including, without limitation, the most recent financial
statements, if any, furnished to licensee's bank or other lending
institution.
(b) For the most recent quarter for which data is available prior to the
date of the filing of the renewal application, but in no event more than
one hundred twenty (120) days prior to the renewal date, the licensee must
provide the number of payment instruments sold by the licensee in the
state, the dollar amount of those instruments and the dollar amount of
those instruments currently outstanding.
(c) Any material changes in any of the information submitted by the
licensee on its original application which have not previously been
reported to the director on any other report required to be filed under
the provisions of this chapter.
(d) A list of the licensee's permissible investments; and if an audited
financial statement has not been provided, the licensee shall provide a
certification by an independent certified public accountant that the
licensee has complied with the provisions of section 26-2906, Idaho Code.
(e) A list of the locations within this state at which business regulated
by the provisions of this chapter is being conducted by either the
licensee or its authorized representative.
(2) A licensee that has not filed an annual report by the renewal filing
deadline and has not been granted an extension of time to do so by the
director shall be notified by the director, in writing, that a hearing will be
scheduled at which time the licensee will be required to show cause why its
license should not be suspended pending compliance with this requirement.

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