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 principals related to money transmission activities; and
- (5) Any felony conviction of the licensee or any of its principals related to money transmission activities.
[L 2006, c 153, pt of §1; am L 2008, c 195, §9; am L 2017, c 45, §5]