Within 15 days of the occurrence of any of the events listed below, a licensee shall file a written report with the Superintendent [Commissioner] describing the event and its expected impact on the licensee’s activities in the District:
(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 licensees’ 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.
(July 18, 2000, D.C. Law 13-140, § 12, 47 DCR 3431.)
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 10 - Money Transmissions
§ 26–1004. License qualifications
§ 26–1005. Permissible investments and statutory trust
§ 26–1006. License application
§ 26–1007. Bond or other security device
§ 26–1009. Issuance of license
§ 26–1010. Renewal of license and annual report
§ 26–1011. Special reporting requirements
§ 26–1012. Changes in control of a licensee
§ 26–1014. Maintenance of records
§ 26–1015. Suspension or revocation of licenses
§ 26–1016. Authorized delegate contracts
§ 26–1017. Authorized delegate conduct
§ 26–1018. Revocation or suspension of authorized delegates
§ 26–1020. Hearings and procedures
§ 26–1024. Promulgation of rules