2016 Minnesota Statutes
Chapters 46 - 59 — BANKING
Chapter 53B — MONEY TRANSMITTERS
Section 53B.12 — EXTRAORDINARY REPORTING REQUIREMENTS.
Within 15 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 the 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 with regard to the licensee's 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.
History: 2001 c 148 s 13
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