(a)  Any firm, association, or corporation required to be licensed pursuant to G.S. 74C-2(a) shall submit an application for a company business license on a form provided by the Board.  Only a sole proprietorship which is owned and operated by an individual licensee shall be exempt from this Rule.  This application for license shall call for such information as the firm, association, or corporation name; the address of its principal office within the State; any past conviction for criminal offenses of any company director, or officer; information concerning the past revocation, suspension or denial of a business or professional license to any director, or officer; a list of all directors and officers of the firm, association, or corporation; a list of all persons, firms, associations, corporations or other entities owning ten percent or more of the outstanding shares of any class of stock; and the name and address of the qualifying agent.

(b)  In addition to the items required in Paragraph (a) of this Rule, an out-of-state corporation shall further qualify by filing with its application for a license, a copy of its certificate of authority to transact business in this state issued by the North Carolina Secretary of State in accordance with G.S. 55‑15‑01 and a consent to service of process and pleadings which shall be authenticated by its corporate seal and accompanied by a duly certified copy of the resolution of the board of directors authorizing the proper officer or officers to execute said consent.

(c)  After filing a completed written application with the Board, the Board shall conduct a background investigation to ascertain if the qualifying agent is in a management position.  The Board shall also determine if the directors, or officers have the requisite good moral character as defined in G.S. 74C-8(d)(2).  It shall be prima facie evidence of good moral character if a director or officer has not been convicted by any local, State, federal, or military court of any crime involving the use, carrying, or possession of a firearm; conviction of any crime involving the use, possession, sale, manufacture, distribution, or transportation of a controlled substance, drug, narcotic, or alcoholic beverage; conviction of a crime involving assault or an act of violence; conviction of a crime involving breaking or entering, burglary, larceny, or any offense involving moral turpitude; or does not have a history of addiction to alcohol or a narcotic drug; provided that, for purposes of this Rule, "conviction" means and includes the entry of a plea of guilty or no contest or a verdict rendered in open court by a judge or jury.

(d)  Upon satisfactory completion of the background investigation, a company business license may be issued.  This license shall be conspicuously displayed at the principle place of business within the State of North Carolina.

(e)  The company business license shall be issued only to the business entity and shall not be construed to extend to the licensing of its officers and employees.

(f)  The issuance of the company business license is issued to the firm, association, or corporation in addition to the license issued to the qualifying agent.  Therefore, the qualifying agent for the firm, association, or corporation which has been issued the company business license shall be responsible for assuring compliance with G.S. 74C.


History Note:        Authority G.S. 74C‑2(a); 74C‑5;

Eff. April 1, 1993;

Amended Eff. February 1, 1995;

Transferred and Recodified from 12 NCAC 07D .0205 Eff. July 1, 2015.