Applications for Registration of Master Trustees
(1)Each entity desiring to register as master trustee shall apply by submitting a written application with the director.
(2)The application must contain the following on a form prescribed by the director:
(a)Information concerning the applicant’s identity and business address(es);
(b)A list of all officers, directors, and owners of the business;
(c)Personal background and business, professional, or work history of all persons identified in subsection (2)(b) of this rule;
(d)Proof that the entity is legally qualified to conduct business in this state, having made the appropriate filings with the Secretary of State;
(e)The depositories the applicant will use for funds received under the appointment from the certified provider;
(f)Financial statements including:
(A)A copy of the applicant’s most recent audited financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder equity, and statement of changes in financial position. All financial statements must be prepared by an independent certified public accountant in accordance with generally accepted accounting principles;
(B)If the audited financial statement is more than six months old, an internally prepared statement for the most recent month end; and
(g)A registration fee as set in OAR 441-930-0270 (Fees Assessed to Certified Providers and Registered Master Trustees).
(3)The director may conduct a background check of any of the officers, directors, and owners applying for registration. The background check may include information solicited from the Oregon State Police.
(4)A registration is continuing and remains in effect until it is surrendered by the registrant or revoked or suspended by the director.
Rule 441-930-0030 — Applications for Registration of Master Trustees,