Sec. 47.1. Verification and contents of petition

(a) Applications for authority to make entries in capital stock accounts shall be verified by an officer of the petitioner competent under the law to verify an annual report to the commission, shall state in detail the nature of the entry to be made and the accounts concurrently affected thereby, and shall cite the authority under which the right to make such entry is claimed.

(b) The application shall contain:

(1) certified copy of the resolution or other official act of the board of directors authorizing the proposed change in the capital stock account;

(2) comparative balance sheet as of the date on which the adjustment in capital stock is to be made, showing accounts before and after giving effect to the proposed change; and

(3) a statement of financial condition as required under Part 3 of this Title, except as specified in greater detail herein.

(c) The application shall also show as of the date of the petition for each class of stock:

(1) number of shares reacquired and price paid therefor;

(2) number of shares outstanding subdivided between actually outstanding and nominally outstanding (reacquired), and the amount at which such shares are carried on the balance sheet;

(3) premium realized on outstanding par stock; and

(4) amounts transferred to accounts for each class of nonpar stock, the date of such transfer and the account from which the transfer was made.