§ 131F-7. Consolidated application and renewal.
§131F‑7. Consolidated application and renewal.
(a) Election to FileConsolidated Application. Each chapter, branch, member, or affiliate of aparent organization or association that is required to obtain a license underG.S. 131F‑5 shall either file a separate application or shall report therequired information to its parent organization or association. The parentorganization or association may then file, on a form provided by theDepartment, a consolidated application for the parent organization or associationand its chapters, branches, members, and affiliates located in this State.
(b) ConsolidatedFinancial Information. If all contributions received by chapters, branches,or affiliates are remitted directly into the parent organization's centralizedaccounting system from which all disbursements are made, the parentorganization may submit one consolidated financial report as part of theapplication on a form provided by the Department.
(c) RenewalInformation. The parent organization or association may file the informationrequired for a renewal of a license in a consolidated form provided by theDepartment. (1993 (Reg. Sess., 1994), c. 759, s. 2.)