51A-17 MONEY TRANSMISSION
Definition of terms.
Permissible investments defined.
Entities exempt from chapter.
License to engage in business of money transmission required.
Single license to conduct business at multiple locations--Authorized delegates.
Minimum net worth required.
Qualification to do business of corporate and noncorporate applicants and licensees.
Security device or deposit required.
Security after licensee ceases operations.
Investments required--Waiver by director.
Criminal background investigation required.
Application for license--Form--Contents.
Corporate applicants--Additional requirements.
Noncorporate applicants--Additional requirements.
Waiver of license application requirements.
Investigation of applicant by director.
Denial of application--Request for hearing.
Annual report and renewal fee.
Time for filing renewal application, report, and fee.
Limit of licensee's liability.
Written report of certain events required.
Notice of proposed change of control--Investigation--Approval of change.
Persons exempt from change of control requirements--Notice.
Public offering of securities exempt from change of control requirements.
Request for determination on change of control from director.
On-site examinations--Acceptance of report by other examining agency--Waiver with
Request for financial data or on-site examination upon reasonable basis to believe
licensee in noncompliance.
Records required and open to inspection.
Confidentiality of information--Exception.
Authorized delegate--Written contract required--Contents.
Standards of conduct of authorized delegate.
Funds received by authorized delegate constitute trust funds.
Report of theft or loss.
Suspension or revocation of license.
Suspension or revocation of authorized delegate designation.
Cease and desist order.
Administrative proceeding following cease and desist order.
Fine for violation of chapter or rule.
Intentional misrepresentations or omissions in records--Engaging in activity without
Order to show cause--Temporary restraining order--Cease and desist order--Administrative proceeding--Judicial review.
Jurisdiction of the courts.
Licenses not assignable.
Funds to be deposited with state treasurer and credited to banking special revenue
Promulgation of rules.
Use of nationwide mortgage licensing system and registry as information channeling
Collection and maintenance of records and processing of fees.
Confidentiality of information provided to nationwide mortgage licensing system and