Licensing and Regulatory Affairs
An applicant and any persons who have a direct or indirect interest in the applicant, as well as any officers, directors, and managerial employees of the applicant shall disclose all the financial information required in the MMLFA and emergency administrative rules including, but not limited to, the following:
(a) Financial statements, pecuniary interest, any deposit of value of the applicant or made directly or indirectly to the applicant, or both, and financial account information including but not limited to, funds, savings, checking, or other accounts including any or all financial institutions information, such as names, account type, amounts of the foregoing, and a list of all loans, amounts, securities, or lender information.
(b) Property ownership information, deeds, leases, rent, real estate trusts, purchase agreements or institutional investors.
(c) Tax information, W-2 and 1099 forms, and any other information required by the department.
(d) For in-state and out-state applicants, the applicant’s business organizational documents filed with this state, local county, or foreign entity, if applicable, including proof of registration to do business in this state and certificate of good standing from this state or foreign entity, if applicable.
(e) Disclosure by the applicant of the identity of any other person who meets either of the following:
(i) Controls, directly or indirectly, the applicant.
(ii) Is controlled, directly or indirectly, by the applicant or by a person who controls, directly or indirectly, the applicant.
(f) Written consent by the applicant to a financial background investigation as authorized under the act and these rules.
(g) Disclosure by the applicant of any true parties of interest as required in section 404 of the act.
(h) Disclosure by the applicant of the stockholders or other persons having a 1% or greater beneficial interest in the proposed marihuana facility as required in section 303 of the act.
(i) The sources and total amount of the applicant's capitalization to operate and maintain the proposed marihuana facility in compliance with Rule 11.
(j) A CPA-attested financial statement including foreign attested CPA statement, or its equivalent, if applicable, on capitalization pursuant to Rule 11.
(k) Information on the financial ability of the applicant to purchase and maintain adequate liability and casualty insurance in compliance with Rule 10.
(l) Any other documents, disclosures, or attestations created or requested by the department that are not inconsistent with the act or these rules.