(a) A licensee shall give written notice to the department by registered or certified mail of any action which may be brought against it by any creditor or claimant where such action relates to activities authorized under this article or involves a claim against the bond filed with the department under subsection (c) of Code Section 7-1-707. The notice shall provide details sufficient to identify the action and shall be sent within 30 days after the commencement of any such action. The licensee shall also give notice to the department by registered or certified mail within 30 days of the entry of any judgment against the licensee.
(b) A licensee shall give written notice to the department by registered or certified mail within ten days of the following:
(1) Any knowledge or discovery of an act prohibited by Code Section 7-1-703 or 7-1-707 or subsection (a) of Code Section 7-1-708;
(2) The discharge of any employee for actual or suspected misrepresentations, dishonest acts, or fraudulent acts; or
(3) Any knowledge or discovery of an administrative, civil, or criminal action initiated by any government entity against the licensee, any of the licensee's directors, officers, partners, ultimate equitable owners, or any individual who directs the affairs of or controls or establishes policy for the licensee.
Section: Previous 7-1-702.1 7-1-702.2 7-1-703 7-1-703.1 7-1-703.2 7-1-704 7-1-704.1 7-1-705 7-1-705.1 7-1-706 7-1-706.1 7-1-707 7-1-707.1 7-1-708 7-1-708.1 NextLast modified: October 14, 2016