Section 27-14-1503 - Disclosures required - Definitions(a) As used in this section:(1) "Affiliated person" means: (A) Any officer, director, or partner of an applicant; and(B) Any person owning or controlling more than five percent (5%) of the applicant's debt or equity;(2)(A) "Applicant" means an entity engaged in the business of operating a taxicab, automobile, or similar vehicle used for hire.(B) "Applicant" does not include an entity providing services under the Transportation Network Company Services Act, § 23-13-701 et seq.; and(3) "Disclosure statement" means a notarized, written statement by the applicant that contains: (A) A complete list of business names or identities under which the applicant has previously operated a business engaged in carrying passengers for hire;(B) A complete list of names used by affiliated persons or owner of the applicant entity within the previous ten (10) years;(C) The case style, case number, or a copy of a judgment entered or lien filed against the applicant or an affiliated person; and(D) The case style, case number, or a copy of pleadings of any bankruptcy proceeding in which the applicant or an affiliated person was named as a debtor or a discharge of a debt against the applicant or an affiliated person was obtained.(c) An applicant shall file a disclosure statement with the Secretary of the Department of Finance and Administration annually.(d) The secretary shall promulgate rules to implement this section.Added by Act 2023, No. 804,§ 2, eff. 1/1/2024.