.02 Application Requirements.

A. A person applying for an electricity supplier license or to transfer an existing license shall file an application on the form provided by the Commission.

B. The application shall contain at least the following information:

(1) The technical and managerial competency of the applicant;

(2) A statement indicating compliance with all applicable requirements of the:

(a) Federal Energy Regulatory Commission; and

(b) Any independent system operator, regional transmission operator, or system transmission operator to be used by the applicant;

(3) A statement of compliance with:

(a) Applicable federal and State consumer protection laws; and

(b) Environmental laws and regulations relating to the generation of electricity;

(4) Financial documents as follows:

(a) One of the following:

(i) Balance sheets and income statements for the two most recent 12-month periods for which information is available;

(ii) If the applicant has not been in existence for at least two-12 month periods, balance sheets and income statements for the life of the business; or

(iii) If a parent corporation or other person undertakes to ensure the financial integrity of the applicant, the parent corporation's or other person's balance sheets and income statements, for at least the two most recent 12 month periods, together with documentation of the undertaking;

(b) Credit reports or ratings prepared by a nationally recognized statistical rating organization regarding the applicant's payment and credit history, to the extent available or allowed;

(c) A current long-term bond rating, or other senior debt rating, if available;

(d) Proof that the applicant has met the credit requirements of PJM Interconnection, LLC, if the applicant has done so, and a detailed description of any credit security requirements PJM Interconnection, LLC has imposed upon the applicant; or

(e) Other evidence of financial integrity the applicant wishes to provide for the Commission's consideration;

(5) A certificate from:

(a) The state under which the applicant's business is formed, indicating that the applicant is in good standing and qualified to do business in the state of formation; and

(b) The Maryland Department of Assessments and Taxation indicating that the applicant is qualified to do business in the State, if the business of the applicant is formed under the laws of a state other than Maryland;

(6) An affidavit of tax compliance, including local taxes and surcharges;

(7) If the applicant provides competitive billing services:

(a) A statement of compliance with any local licensing and bonding requirement; and

(b) A copy of the agreement between the electric company and the applicant that:

(i) Details the reciprocal responsibilities for collection and ownership of accounts receivable; and

(ii) Prohibits the electric company from commencing collection or service termination action of any kind against a retail customer for nonpayment of utility charges billed by the electricity supplier unless the retail customer fails upon request to provide evidence of payment to the electricity supplier of the utility charges;

(8) If the applicant intends to collect a deposit or prepayment from a retail customer, a bond as required under COMAR or similar instrument approved by the Commission;

(9) If applicable, a certificate of compliance with the provisions of the Labor and Employment Article, Title 9, Annotated Code of Maryland, relating to Maryland Workers' Compensation.

(10) A statement confirming that upon the Commission granting a license to the electricity supplier under Regulation .09 of this chapter, the electricity supplier will notify each of the administrators appointed under COMAR of its name, contact details and any other relevant administrative details that an administrator may require in order to efficiently invoice such electricity supplier as required by COMAR

C. An applicant seeking to act solely as a broker or aggregator of electricity supply and electricity supply services shall submit a $10,000 bond in the form described in Regulation .08G of this chapter.

D. An applicant who provides financial documents under §B(4)(a) of this regulation shall provide audited balance statements, if available.