Section 140.05. Liability reporting.

 

(1)   Reporting. All liabilities and contingent liabilities shall be reported. The terms, amount and conditions of any major liabilities shall be separately scheduled. This schedule should show the names of individuals or institutions who hold the debt, the amount of debt, and the terms of repayment. A list of customers and the amounts on deposit with the dealer should be attached to the financial statement.

(2)   Ratio analysis. A ratio analysis comparing current liabilities with current assets shall be used to evaluate a dealer's financial potential. Current liabilities which exceed current assets may be grounds for the denial, suspension or revocation of a dealer's license.

History: Cr. Register, March, 1985, No. 351 , eff. 4-1-85; am. (2), Register, February, 1996, No. 482 , eff. 3-1-96.