32 §6111. Extraordinary reporting requirements

Title 32: PROFESSIONS AND OCCUPATIONS

Chapter 80: MONEY TRANSMITTERS AND CHECK CASHERS HEADING: PL 1997, C. 155, PT. A, §2 (NEW)

Subchapter 1: MONEY TRANSMITTERS HEADING: PL 1997, C. 155, PT. A, §2 (NEW)

§6111. Extraordinary reporting requirements

1. Written report. Within 15 days of the occurrence of any one of the events listed below, a licensee shall file a written report with the administrator describing the event and its expected impact on the licensee's activities in the State:

A. The filing for bankruptcy or reorganization by the licensee; [1997, c. 155, Pt. A, §2 (NEW).]

B. The institution of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee's money transmission activities; [1997, c. 155, Pt. A, §2 (NEW).]

C. A felony indictment of the licensee or any of its executive officers or directors related to money transmission activities; or [1997, c. 155, Pt. A, §2 (NEW).]

D. A felony conviction of the licensee or any of its executive officers or directors related to money transmission activities. [1997, c. 155, Pt. A, §2 (NEW).]

[ 1997, c. 155, Pt. A, §2 (NEW) .]

SECTION HISTORY

1997, c. 155, §A2 (NEW).