04 NCAC 25 .0103             NONPROFIT PARTNERS APPLICATION DENIAL

Reasons for denial of a nonprofit application shall include at least one of the following:

(1)           Perceived or actual conflicts of interest;

(2)           Failure to provide proof that the organization is a nonprofit organization duly authorized by the North Carolina Office of the Secretary of State;

(3)           Failure to provide a current North Carolina Certificate of Good Standing;

(4)           Failure to implement and utilize data security practices, as required by law, that ensure the confidentiality of information submitted by Sandbox applicants and participants;

(5)           Failure to illustrate, as determined by the Council, the organization's capabilities or expertise in FinTech, InsurTech, blockchain technologies, or other new or emerging technology products or services; and

(6)           Failure to provide any required missing information related to the application, or any additional information upon request of the Executive Director within 14 business days, as set forth in 04 NCAC 25 .0102(c).

History Note:        Authority G.S. 169-4; 169-5;

Eff. March 1, 2025.