Section 399-G:13 – Examinations and Investigations.
399-G:13 Examinations and Investigations. – I. The department may examine during business hours the business affairs and records of any licensee, any authorized delegate, or any other person, whether licensed or not, as it deems necessary to determine compliance with this chapter and the rules or orders adopted under this chapter. The department shall […]
Section 399-G:14 – Prohibitions.
399-G:14 Prohibitions. – I. It is unlawful for any person, in connection with the solicitation, offer, or transaction of money transmission, directly or indirectly: (a) To employ any device, scheme, or artifice to defraud; (b) To make any untrue statement of a material fact or to omit to state a material fact necessary in […]
Section 399-G:15 – Oversight of Authorized Delegates.
399-G:15 Oversight of Authorized Delegates. – Licensees shall implement a system of education, training, monitoring, and periodic inspection designed to inform their authorized delegates of their responsibilities, consistent with the Bank Secrecy Act and the requirements to file reports required by federal law. Licensees whose authorized delegates are not required to register independently with […]
Section 399-G:16 – Net Worth Requirements.
399-G:16 Net Worth Requirements. – An applicant or licensee shall at all times maintain a net worth of the lesser of its average daily outstanding money transmissions for the prior calendar year or $1,000,000. Each licensee shall file a statement of net worth pursuant to RSA 399-G:10, II(e). Source. 2015, 258:1, eff. Jan. 1, […]
Section 399-G:2 – License Required.
399-G:2 License Required. – I. Any person not exempt under RSA 399-G:3 that, in its own name or on behalf of other persons, acts as a money transmitter while physically located in New Hampshire, or with, to, or from persons located in New Hampshire, shall obtain a license from the department and shall register […]
Section 399-G:3 – Exemptions.
399-G:3 Exemptions. – The provisions of this chapter shall not apply to: I. Any bank, trust company, savings and loan association, profit sharing and pension trust, credit union, thrift company, insurance company, or receivership, which may be chartered by this state or any other state or by any agency of the United States. II. […]
Section 399-G:4 – Application and Fees.
399-G:4 Application and Fees. – I. (a) To be considered for licensing, each person shall complete and file with the department one verified application through the Nationwide Multistate Licensing System and Registry, using the Nationwide Multistate Licensing System and Registry form which shall include but not be limited to the following information: (1) The […]
Section 399-G:5 – License and Registration Grant and Renewal.
399-G:5 License and Registration Grant and Renewal. – I. Upon the applicant’s filing of the complete application, and payment of the required fee, the commissioner shall have, in accordance with RSA 541-A:29, up to 120 days to investigate and determine whether the applicant’s financial resources, experience, personnel, and record of past or proposed conduct […]
Section 399-G:6 – License Denial or Abandonment; Appeal.
399-G:6 License Denial or Abandonment; Appeal. – I. If the commissioner determines that the applicant fails to meet the requirements of this chapter, the commissioner shall immediately, in writing, notify the applicant of that determination. II. The commissioner may deny a license application if it is in the public interest and the applicant or […]
Section 399-G:7 – License Posting.
399-G:7 License Posting. – It shall be unlawful to engage in the business of money transmission without a conspicuously posted license in the licensee’s principal office within this state or a conspicuously posted registration in each of the licensee’s authorized delegate offices within this state. Source. 2015, 258:1, eff. Jan. 1, 2016.