Section 51A-17-32 – Standards of conduct of authorized delegate.
51A-17-32. Standards of conduct of authorized delegate. An authorized delegate shall adhere to the following standards of conduct: (1)No authorized delegate may make any fraudulent or false statement or misrepresentation to a licensee or to the director; (2)All money transmission or sale or issuance of payment instrument activities conducted by an authorized delegate shall be […]
Section 51A-17-33 – Funds received by authorized delegate constitute trust funds.
51A-17-33. Funds received by authorized delegate constitute trust funds. Any funds, less fees, received by an authorized delegate of a licensee from the sale or delivery of a payment instrument issued by a licensee or received by an authorized delegate for transmission shall, from the time such funds are received by such authorized delegate until […]
Section 51A-17-34 – Report of theft or loss.
51A-17-34. Report of theft or loss. An authorized delegate shall report to the licensee the theft or loss of payment instruments and stored value within twenty-four hours from the time the authorized delegate knew or should have known of such theft or loss. Source: SL 2008, ch 253, §34.
Section 51A-17-35 – Suspension or revocation of license.
51A-17-35. Suspension or revocation of license. The director may suspend or revoke a licensee’s license if the director finds that: (1)Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying such application; (2)The licensee’s net worth becomes inadequate and […]
Section 51A-17-36 – Suspension or revocation of authorized delegate designation.
51A-17-36. Suspension or revocation of authorized delegate designation. The director may issue an order suspending or revoking the designation of an authorized delegate, if the director finds that: (1)The authorized delegate violated this chapter or a rule adopted or an order issued under this chapter; (2)The authorized delegate did not cooperate with an examination or […]
Section 51A-17-37 – Cease and desist order.
51A-17-37. Cease and desist order. If the director determines that a violation of this chapter or of a rule adopted or an order issued pursuant to this chapter by a licensee or authorized delegate is likely to cause immediate and irreparable harm to the licensee, its customers, or the public as a result of the […]
Section 51A-17-38 – Administrative proceeding following cease and desist order.
51A-17-38. Administrative proceeding following cease and desist order. The director shall commence an administrative proceeding pursuant to chapter 1-26 within twenty days after issuing an order to cease and desist. The director may apply to the circuit court for an appropriate order to protect the public interest. Source: SL 2008, ch 253, §38.
Section 51A-17-39 – Consent order.
51A-17-39. Consent order. The director may enter into a consent order at any time with a person to resolve a matter arising under this chapter. A consent order shall be signed by the person to whom it is issued or by the person’s authorized representative, and shall indicate agreement with the terms contained in the […]
Section 51A-17-40 – Fine for violation of chapter or rule.
51A-17-40. Fine for violation of chapter or rule. The director may assess a fine against a person that violates this chapter or a rule adopted or an order issued under this chapter in an amount not to exceed five hundred dollars per day for each day the violation is outstanding, plus the state’s costs and […]
Section 51A-17-31 – Authorized delegate–Written contract required–Contents.
51A-17-31. Authorized delegate–Written contract required–Contents. Any licensee desiring to conduct licensed activities through an authorized delegate shall authorize each delegate to operate pursuant to an express written contract. Any such contract entered into after July 1, 2008, shall provide the following: (1)That the licensee appoints the person as its delegate with authority to engage in […]