State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-208_13

§ 53‑208.13. Extraordinary reporting requirements.

(a)        Within 15 days ofthe occurrence of any one of the events listed below, a licensee shall file awritten report with the Commissioner describing the event and its expectedimpact on the licensee's activities in the State:

(1)        The filing forbankruptcy or reorganization by the licensee.

(2)        The institution ofrevocation or suspension proceedings against the licensee by any State orgovernmental authority with regard to the licensee's money transmission activities.

(3)        Any felonyindictment of the licensee or any of its key officers or directors related tomoney transmission activities.

(4)        Any felonyconviction of the licensee or any of its key officers or directors related tomoney transmission activities.

(b)        A licensee shallupdate information contained in the original application filed with theCommissioner. If the information contained in the application is or becomesinaccurate in any material respect, the licensee shall file a correctedamendment as soon as practicable, but in no event later than 30 days after theeffective date of the material changes. (2001‑443, s. 2.)