A. If an applicant is incorporated, it shall file:
(1) A certified copy of the charter or articles of incorporation, together with any amendments;
(2) A copy of the bylaws, together with any amendments;
(3) Any stock issuance statements; and
(4) The amount and classes of stock for which the applicant will seek the authority of the Commission to issue and the stated or par value of the shares.
B. The applicant shall describe the relationship, if any, with a land or home developer concerning the formation, construction, and operation of the proposed system.
C. An applicant shall submit documentary evidence clearly showing that it is an entity separate from any land or business activity not related to the normal and incidental activities of a water, sewage disposal, or water and sewage disposal company and that it shall keep and maintain books, accounts, and records of expenses, and revenues attributable solely to its operations.