§ 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This article 110 is repealed, effective September 1, 2024.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 […]
§ 11-110-108. 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 […]
§ 11-110-109. 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 […]
§ 11-110-110. Issuance of License – Renewal – Fee
Before any license is issued, and annually thereafter on or before January 1 of each succeeding year, the applicant or licensee shall pay to the banking board a license fee in an amount set by the banking board pursuant to section 11-102-104 (11). For each license originally issued between July 1 and December 31 of […]
§ 11-110-111. Examination – Fee – Financial Statements and Reports to Commissioner – Change in Control
The commissioner may examine the books and records of a licensee using risk-based criteria and considering other available regulatory mechanisms as directed by the banking board; shall make and file in the office of the commissioner a correct report in detail disclosing the results of the examination; and shall mail a copy of the report […]
§ 11-110-112. Change in Control – Rule
Except as specified in subsection (1)(b) or (1)(c) of this section, when a licensee proposes a change of control, the licensee shall: Give the commissioner written notice of the proposed change of control within fifteen days after learning of the proposed change of control; Request approval of the change of control; and Submit a nonrefundable […]
§ 11-110-113. Compliance With Federal Law
Each licensee shall comply with state and federal money laundering laws, including, but not limited to, the federal “Bank Secrecy Act”, 12 U.S.C. sec. 1951 et seq. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 584, § 2, effective August 9. Editor’s note: This section is similar to former § […]