Activities Incidental To The Conduct Of A Bidco

(1) Pursuant to the provisions of Section 10, subsection (b)(5) of the Act, the activities incidental to the conduct of a BIDCO may include, but not necessarily be limited to: (a) Electronic data processing services; (b) Investment advisory services; (c) Accounting, bookkeeping, and internal auditing services; (d) Personnel services; (e) Marketing analysis services; (f) Advertising services; (g) Security services; (h) Transportation of valuables services; (i) Agent services for leasing of real property, business equipment, and business vehicles; (j) Acting as a corporate agent; RULES PERTAINING TO BUSINESS AND INDUSTRIAL DEVELOPMENT CHAPTER 0180-18 CORPORATIONS (“BIDCOS”) (k) Employee benefit planning; and (l) Pension fund management. (2) All above activities should be entered into in full consideration of any license, registration or other requirements of state or federal law or regulation thereof. (3) Requests for approval to conduct additional incidental activities shall be in writing to the commissioner and shall contain, at a minimum: (a) The name and main office address of the BIDCO; (b) A resolution by the board of directors of the BIDCO authorizing the application for additional incidental activities; (c) A complete description of the activity(s) in which the BIDCO wishes to engage; (d) An explanation of why such activity(s) is necessary or convenient to carry on the business of, or that is reasonably related to the business of, providing financing assistance and management assistance to business firms; (e) An explanation of what experience or expertise will be available to perform the functions of the activity(s); (f) Such other information as the applicant may provide to support the request; (g) Such other information as the commissioner may require. (4) If, on the basis of the information submitted, the commissioner concludes that the request should be approved, the commissioner shall issue written approval for such activity(s). Such approvals may be conditional. (5) If on the basis of the information submitted or obtained through the investigation process, the commissioner concludes that the request should be denied, the commissioner shall issue a written explanation of the reasons for the denial.