Minnesota Administrative Rules

8275.0030 WORKING CAPITAL.

Subpart 1.

Generally.

A certification authority's working capital is sufficient for licensing or renewal purposes if, at the time application for licensure or renewal is made, its current assets minus current liabilities exceeds $50,000.

The existence of working capital must be demonstrated through an audited financial statement authenticated by a licensed certified public accountant and dated no more than 60 days before the date it is received by the secretary.

Subp. 2.

Governmental entities.

A federal, state, or city governmental entity is considered to have sufficient working capital without providing any documentation.

Statutory Authority:

MS s 325K.01; 325K.03; 325K.04; 325K.05; 325K.06; 325K.07

History:

23 SR 1352

Published Electronically:

October 27, 2003