§489D-14 Extraordinary reporting requirements. Within fifteen business days of the occurrence of any one of the events listed below, a licensee shall file a written report with the commissioner describing the event and its expected impact on the licensee's activities in this State. These events are:
(1) Any material change in information provided in a licensee's application or annual report;
(2) The filing for bankruptcy or reorganization by the licensee;
(3) Pending or final revocation, suspension, or other enforcement action against the licensee by any state or governmental authority relating to the licensee's money transmission activities;
(4) Any felony indictment of the licensee or any of its key shareholders, principals, executive officers, or officers or managers in charge of the licensee's activities, related to money transmission activities; and
(5) Any felony conviction of the licensee or any of its key shareholders, principals, executive officers, or officers or managers in charge of the licensee's activities, related to money transmission activities. [L 2006, c 153, pt of §1; am L 2008, c 195, §9]
Section: Previous 489d-9 489d-9.5 489d-10 489d-11 489d-12 489d-12.5 489d-13 489d-14 489d-14.5 489d-15 489d-16 489d-17 489d-18 489d-19 489d-20 NextLast modified: October 27, 2016