2018 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 79 - Money Services
§ 2532 Reports
§ 2532. Reports
(a) A licensee shall file with the Commissioner within 30 business days any material changes in information provided in a licensee's application as prescribed by the Commissioner.
(b) A licensee shall notify the Commissioner in writing within 30 days of any change in the list of executive officers, managers, directors, individuals in control, or responsible individuals.
(c) A licensee shall file a report with the Commissioner within 15 business days after the licensee has reason to know of the occurrence of any of the following events:
(1) the filing of a petition by or against the licensee under the U.S. Bankruptcy Code for bankruptcy or reorganization;
(2) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;
(3) the commencement of a disciplinary proceeding against its license in a state or country in which the licensee engages in business or is licensed;
(4) the cancellation or other impairment of the licensee's bond or other security;
(5) a charge or conviction against the licensee or of any of the executive officers, partners, members, managers, and principal equity owners of, or person in control of, the licensee for a felony related to the provision of money services; or
(6) a charge against or conviction of an authorized delegate for a felony related to the provision of money services. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002; amended 2009, No. 134 (Adj. Sess.), § 23.)
