Within 15 days of the occurrence of any of the events listed below, a licensee shall file a written report with the Superintendent describing the event and its expected impact on the licensee's activities in the District:

(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 with regard to the licensees' money transmission activities;

(3) Any felony indictment of the licensee or any of its key officers or directors related to money transmission activities; or

(4) Any felony conviction of the licensee or any of its key officers or directors related to money transmission activities.

CREDIT(S)

(July 18, 2000, D.C. Law 13-140, § 12, 47 DCR 3431.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws
For Law 13-140, see notes following § 26-1001.

Within 15 days of the occurrence of any of the events listed below, a licensee shall file a written report with the Superintendent describing the event and its expected impact on the licensee's activities in the District:

(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 with regard to the licensees' money transmission activities;

(3) Any felony indictment of the licensee or any of its key officers or directors related to money transmission activities; or

(4) Any felony conviction of the licensee or any of its key officers or directors related to money transmission activities.

CREDIT(S)

(July 18, 2000, D.C. Law 13-140, § 12, 47 DCR 3431.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws
For Law 13-140, see notes following § 26-1001.