Within 15 days following the occurrence of any one of the events listed in this section, a licensee shall file a written report with the Director of the Department of Consumer and Business Services describing the event and the event’s expected effect on the licensee’s activities in this state:
(1) The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner;
(2) The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities;
(3) Any felony indictment of the licensee or any of its key officers or directors;
(4) Any felony conviction of the licensee or any of its key officers or directors; or
(5) The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]
Section: Previous 717.210 717.215 717.220 717.225 717.230 717.235 717.240 717.245 717.250 717.255 717.260 717.265 717.270 717.275 717.280 NextLast modified: August 7, 2008