Providers of other electronic documents.

CFR · 2024-01-01 · US · Title 7

(a) To establish a USWA-authorized system to issue and transfer OED, each applicant must submit to AMS information and documents determined by AMS to be sufficient to determine that the applicant can comply with the provisions of the Act. Each provider operating pursuant to this section must meet the following requirements: (1) Have and maintain a net worth as specified in the applicable provider agreement; (2) Maintain two insurance policies; one for 'errors and omissions' and another for 'fraud and dishonesty'. Each policy's minimum coverage and maximum deductible amounts and applicability of other forms of financial assurances as set forth in § 869.14 will be prescribed in the applicable provider agreement. Each policy must contain a clause requiring written notification to AMS 30 days prior to cancellation or as prescribed by AMS; (3) Submit a current review or an audit level financial statement prepared according to generally accepted accounting standards as defined by the American Institute of Certified Public Accountants; (4) For any entity that is not an individual, a document that establishes proof of the existence, such as: (i) For a partnership, an executed partnership agreement; and (ii) For a corporation: (A) Articles of incorporation certified by the Secretary of State of the applicable State of incorporation; (B) Bylaws; and (C) Permits to do business; and (iii) For a limited partnership, an executed limited partnership agreement; and (iv) For a limited liabili

official document · source cfr-2024 · id 7:§ 869.402