A North Carolina licensee in 2026 receives notice of a pending administrative action in another state. Is notice of the pending action a reportable material fact, or must the licensee wait for its outcome?
Correct Answer
C) A material fact, and so reportable as a material change of it
Material facts include notice of a pending administrative action involving the licensee or applicant by any state or federal authority to which the licensee is subject, and material change means a change to any material facts. Other choices: the pending action itself is listed; no participation or geographic condition appears. Source: 04 NCAC 03M .0101(7)(a)
Why This Is the Correct Answer
Material facts include notice of a pending administrative action involving the licensee or applicant by any state or federal authority to which the licensee is subject, and material change means a change to any material facts. Other choices: the pending action itself is listed; no participation or geographic condition appears. Source: 04 NCAC 03M .0101(7)(a)
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