Section 51A-17-21 – Limit of licensee’s liability.
51A-17-21. Limit of licensee’s liability. A licensee’s responsibility to any person for a money transmission conducted on that person’s behalf by the licensee or the licensee’s authorized delegate is limited to the amount of money transmitted or the face amount of the payment instrument or stored value purchased. Source: SL 2008, ch 253, §21.
Section 51A-17-22 – Amendment or notice of certain events required.
51A-17-22. Amendment or notice of certain events required. Within fifteen business days of the occurrence of any one of the events listed in this section, a licensee shall electronically file an amendment or an advance change notice through the nationwide mortgage licensing system and registry describing the event and its expected impact on the licensee’s […]
Section 51A-17-23 – Notice of proposed change of control–Investigation–Approval of change.
51A-17-23. Notice of proposed change of control–Investigation–Approval of change. A licensee shall electronically file an advance change notice through the nationwide mortgage licensing system and registry of a proposed change of control within fifteen days after learning of the proposed change of control and request approval of the acquisition. After review of a request for […]
Section 51A-17-24 – Persons exempt from change of control requirements–Notice.
51A-17-24. Persons exempt from change of control requirements–Notice. The following persons are exempt from the requirements of §51A-17-23, but the licensee shall notify the director of any such change of control: (1)A person that acts as a proxy for the sole purpose of voting at a designated meeting of the security holders or holders of […]
Section 51A-17-25 – Public offering of securities exempt from change of control requirements.
51A-17-25. Public offering of securities exempt from change of control requirements. Section 51A-17-23 does not apply to public offerings of securities. Source: SL 2008, ch 253, §25.
Section 51A-17-26 – Request for determination on change of control from director.
51A-17-26. Request for determination on change of control from director. Before filing a request for approval to acquire control, a person may request in writing a determination from the director as to whether the person would be considered a person in control of a licensee upon consummation of a proposed transaction. If the director determines […]
Section 51A-17-27 – Examination or investigation–Acceptance of report by other examining agencies or federal government.
51A-17-27. Examination or investigation–Acceptance of report by other examining agencies or federal government. The director may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this chapter, rule adopted under this chapter and promulgated pursuant to chapter 1-26, or order issued under this chapter that is […]
Section 51A-17-28 – Request for financial data or examination upon reasonable basis to believe licensee in noncompliance.
51A-17-28. Request for financial data or examination upon reasonable basis to believe licensee in noncompliance. The director may request financial data from a licensee in addition to that required under §51A-17-19, or conduct an examination of any authorized delegate or location of a licensee within this state without prior notice to the authorized delegate or […]
Section 51A-17-29 – Records required and open to inspection.
51A-17-29. Records required and open to inspection. Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years and which shall be open to inspection by the director: (1)A record or records of each payment instrument and stored value sold; (2)A general ledger, which general ledger […]
Section 51A-17-30 – Confidentiality of information–Exception.
51A-17-30. Confidentiality of information–Exception. All information or reports obtained by the director from an applicant, licensee, or authorized delegate, whether obtained through reports, applications, examination, audits, investigation, or otherwise, including all information contained in or related to examination, investigation, operating, or condition reports prepared by, on behalf of, or for the use of the director, […]