2015 North Carolina General Statutes
Chapter 53 - Regulation of Financial Services.
Article 16A - Money Transmitters Act.
§ 53-208.13 - 13. Extraordinary reporting requirements.
53-208.13. Extraordinary reporting requirements.
(a) 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.
(4) Any felony conviction of the licensee or any of its key officers or directors related to money transmission activities.
(b) A licensee shall update information contained in the original application filed with the Commissioner. If the information contained in the application is or becomes inaccurate in any material respect, the licensee shall file a corrected amendment as soon as practicable, but in no event later than 30 days after the effective date of the material changes. (2001-443, s. 2.)
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