Section 47-3-003 - SURPLUS REQUIREMENTS003.01 Applicants for a charter to become a digital asset depository under the Act must provide proof of a paid-up surplus fund of at least three (3) years of estimated operating expenses. Such operating expenses must be included within a comprehensive estimate provided to the Director as part of the application for a charter.003.02 The term "Operating Expenses" means any and all expenses an applicant incurs through its normal business operations, and must include, but is not limited to: 003.02A Costs of real property utilized by the Applicant, including but not limited to: rent, mortgage payments, utility costs, insurance, maintenance costs, and property taxes;003.02B Costs of personal property utilized by the applicant, including, but not limited to, materials, machinery, equipment, and software;003.02D Payroll expenses;003.02F Business services offered by partners, affiliates, third parties, or other vendors; and003.02G All other ongoing costs of the digital asset depository of any kind or nature.003.03 The items required to be considered as operating expenses under the Act can and will vary across applicants and will be dependent upon an individual applicant's business type, business model, organizational structure, and other factors, and will be assessed on a case-by-case basis. Estimated operating expenses must be comprehensive, realistic, consistent with pro forma financials, and indicate an ability to secure a Certified Public Accounting Audit opinion that indicates the institution is likely to be a successful ongoing concern.47 Neb. Admin. Code, ch. 3, § 003
Adopted effective 5/29/2024