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Minnesota Statutes Banking (Ch. 46-59) § 53B.12. Extraordinary reporting requirements

Current as of January 01, 2023 | Updated by FindLaw Staff

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.

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Cite this article: FindLaw.com - Minnesota Statutes Banking (Ch. 46-59) § 53B.12. Extraordinary reporting requirements - last updated January 01, 2023 | https://codes.findlaw.com/mn/banking-ch-46-59/mn-st-sect-53b-12/

Read this complete Minnesota Statutes Banking (Ch. 46-59) § 53B.12. Extraordinary reporting requirements on Westlaw

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