§ 11-110-114. Multiple Locations
Each licensee may conduct business at locations within this state the licensee may desire and through agents and subagents the licensee may from time to time appoint. Each licensee shall notify the board by certified mail of any increase in the number of locations at which it conducts its business and shall provide proof that […]
§ 11-110-115. Revocation or Surrender of License
The banking board may, upon ten days’ notice served personally upon the licensee stating the contemplated action and the grounds therefor, hold a hearing at which the licensee shall have a reasonable opportunity to be heard, for the purpose of determining whether a license should be revoked. After the hearing the banking board may revoke […]
§ 11-110-116. Rules
The banking board may make, promulgate, alter, amend, or revise reasonable rules as may be necessary for the enforcement and execution of this article 110. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 585, § 2, effective August 9. Editor’s note: This section is similar to former § 12-52-113 as […]
§ 11-110-117. Review
Any person aggrieved and directly affected by an order of the banking board issued under this article 110 may seek a review in the district court of Colorado in and for the county in which the principal place of business of the licensee or applicant is located. The filing of such a petition for review […]
§ 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 […]