§ 11-110-118. Penalty for Violations
Any person who violates any provision of this article 110 is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than ten thousand dollars. Each such violation shall constitute a separate offense. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 585, § […]
§ 11-110-119. Civil Remedies – Restraining Orders – Injunctions
If the board has cause to believe that a person has sold or issued exchange or transmitted money without a license issued under this article 110, the board may obtain from the district court of the city and county of Denver a temporary restraining order or a preliminary or permanent injunction prohibiting the person from […]
§ 11-110-120. Notice – Banking Board – Consumers
The licensee or the licensee’s agents or subagents shall give notice to the banking board, by certified mail, of any legal action which shall be brought against the licensee and of any judgment which shall be entered against the licensee, by any creditor or claimant, relating to selling or issuing exchange or transmitting money under […]
§ 11-110-121. Repeal of Article – Review of Functions
This article 110 is repealed, effective September 1, 2024. Prior to such repeal, the licensing functions of the commissioner and the banking board shall be reviewed as provided for in section 24-34-104. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 587, § 2, effective August 9. Editor’s note: This section […]
§ 11-110-201. Agent Information – Rules
A money transmitter licensed pursuant to part 1 of this article 110 shall annually send the following information to the banking board on such form as it may prescribe: The name of each agent and the address and telephone number of each of the agent’s offices that engage in the business of money transmission; The […]
§ 11-110-202. Applicability – Definition
This part 2 does not apply to an agent of a business licensed pursuant to part 1 of this article 110 to the extent that the agent is selling or adding additional money to stored value issued by the business. For purposes of this section, “stored value” means a card, code, or other device that […]
§ 11-110-108. Bond – Condition – Amount – Rules
Each approved applicant shall furnish a corporate surety bond in the principal sum of one million dollars, except as otherwise provided in this subsection (1), by a bonding company or insurance company authorized to do business in this state, in which the applicant is named as obligor, to be approved by the banking board, that […]
§ 11-110-203. Notice of Laws – Rules
The banking board shall promulgate rules to create a form containing a notice of the contents of section 18-5-309 and other state and federal laws concerning money laundering. An agent of a business licensed pursuant to part 1 of this article 110 shall require each employee who performs money transmission services to either: Understand and […]
§ 11-110-109. Issuance of License
Upon the filing of an application, the commissioner shall investigate the applicant. The applicant shall pay for the cost of the investigation. If the board finds that the applicant is of good moral character and financially responsible and can comply with this article 110, the board shall approve the application and notify the applicant in […]
§ 11-110-204. Records
The information sent to the banking board under section 11-110-201 and the records required by section 11-110-203 shall be open to any law enforcement officer acting within the scope and course of the officer’s official duties. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 588, § 2, effective August 9. […]