Any person, firm or corporation desiring to renew a license shall make application to the Board on the prescribed forms. A renewal application for a monetary limitation greater than one million five hundred thousand dollars ($1,500,000) must be accompanied by a compilation prepared by a licensed public accountant or certified public accountant. If a renewal applicant requests a monetary limitation of one million five hundred thousand dollars ($1,500,000) or less, the applicant must submit a notarized statement that the information contained in his or her financial statement is true and correct. Regardless of the monetary limit size, the Board may, with cause, require a financial statement that is reviewed or audited by a licensed public accountant or certified public accountant if the Board has reason to believe it is in the best interest of the public safety and welfare.

Authority: T.C.A. §§ 62-6-108 and 62-6-116. Administrative History: Original rule filed July 22, 1974; effective August 21, 1974. Repeal and new rule filed January 20, 1977; effective February 19, 1977. Amendment filed May 19, 1980; effective July 3, 1980. Amendment filed September 16, 1981; effective November 2, 1981. Amendment filed June 28, 1984; effective July 28, 1984. Amendment filed January 31, 1996; effective April 16, 1996. Amendment filed April 28, 2008; effective July 12, 2008. Amendments filed August 20, 2025; effective November 18, 2025.