Within 15 days of the occurrence of any one of the following events, a licensee shall file a written report with the supervisor describing the event and its expected impact on the activities of the licensee in this state:
- (1) The filing for bankruptcy or reorganization by the licensee.
- (2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority and subsequently the outcome of such proceeding.
- (3) The denial of a license to engage in the deferred presentment services business by any state or governmental authority.
- (4) Any felony indictment of the licensee or any of its directors, officers, or principals.
- (5) Any felony conviction of the licensee or any of its directors, officers, or principals.
- (6) All other events as the supervisor may determine and identify by regulation.
(Act 2003-359, p. 992, §9.)