Louisiana Revised Statutes Tit. 6, § 1385.2. Approval of advanced change of responsible individual notice

A. Whenever a change is contemplated with respect to a reasonable individual of a licensee or applicant, all of the following information shall be provided to the commissioner through the NMLS:

B. After review of an advanced change of responsible individual notice filed pursuant to Subsection A of this Section, the commissioner may require the licensee or applicant to provide additional information concerning the proposed responsible individual. The additional information shall be limited to the same information required from a licensee or an applicant as part of his original application filed pursuant to R.S. 6:1385(A).

C. The commissioner shall approve an advanced change of responsible individual notice filed in accordance with Subsection A of this Section if, after investigation, the commissioner reasonably determines that the proposed responsible individual has the relevant competence, experience, character, and general fitness considered necessary to ensure that the licensee or applicant will continue to conduct its virtual currency business activity honestly, carefully, and efficiently and in accordance with the requirements of this Chapter and other applicable state and federal laws and regulations.

D. If the commissioner determines that the proposed responsible individual fails to meet the qualifications, standards, and requirements of this Chapter, the commissioner shall inform the licensee, applicant, and proposed responsible individual, in writing, that the advanced change of control request is denied and state the reasons for denial. The licensee, applicant, and proposed responsible individual may appeal the denial in accordance with R.S. 6:1387(C).