18 NCAC 06A .2033         review OF THE FUNDING PORTAL REGISTRATION

(a)  When determining whether a registration is effective, the Administrator may consider:

(1)           the contents of Form NCFP and any amendments;

(2)           the contents of any contracts provided with the Form NCFP;

(3)           the escrow agent that the funding portal intends to use;

(4)           the funding portal's:

(A)          physical location;

(B)          experience as a funding portal;

(C)          financial solvency;

(D)          disciplinary history; and

(E)           technology to be utilized;

(5)           other parties to the contracts with the funding portal that facilitate its ability to act as a funding portal and their:

(A)          physical locations;

(B)          financial stability;

(C)          disciplinary history; and

(D)          technology to be utilized;

(6)           regulatory agencies, if any, that oversee the activities of the entities that are involved with the funding portal; and

(7)           any other factors the Administrator deems relevant.

(b)  When reviewing an application for registration of the funding portal, the Administrator may consider information not included in the Form NCFP and may ask the funding portal for additional relevant information.

History Note:        Authority G.S. 78A-17.1(a)(5); 78A-17.1(f); 78A-49(a); 78A-49(d); 78A-64; S.L. 2016-103, s.4.(a);

Eff. April 1, 2017.