399-G:1 Definitions. – In this chapter: I. " Affiliate " means a partnership, corporation, trust, limited liability company, or other organization or person that directly or indirectly owns or controls, or is under common ownership with, or is directly or indirectly owned or controlled by, a licensee. II. " Applicant " means a person […]
399-G:10 Reporting and Filing Requirements. – I. Each licensee shall submit to the Nationwide Multistate Licensing System and Registry reports of condition, which shall be filed within the time prescribed by the Nationwide Multistate Licensing System and Registry, in such form and shall contain such information as the Nationwide Multistate Licensing System and Registry […]
399-G:11 Record Keeping Requirements. – I. (a) The licensee shall maintain such records as will enable the department to determine whether the licensee’s business is in compliance with the provisions of this chapter and the rules adopted pursuant to this chapter. Such records shall be maintained for a period of at least 5 years […]
399-G:12 Consumer Inquiries. – I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the commissioner, shall be forwarded via electronic mail or certified or registered mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 10 days after receipt […]
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 […]
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 […]
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 […]
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, […]
399-G:17 Money Laundering Reports and Federal Law Compliance. – I. Licensees shall create, implement, and file with the commissioner written plans for compliance with federal laws, including but not limited to the Bank Secrecy Act of 1970 as amended, and regulations, 31 U.S.C. section 5313, 31 C.F.R. part 1010, and other federal and state […]
399-G:18 Advertising. – No person shall advertise, print, display, publish, distribute, or broadcast, or permit to be advertised, printed, displayed, published, distributed, or broadcast in any manner, any statement or representation with regard to the rates, terms, or conditions for money transmission under the provisions of this chapter which is false, misleading, or deceptive. […]
399-G:19 Transmission and Refunds. – I. Money transmitters shall be liable to customers for the amount of the money or monetary value as well as any fees paid by the customer and received by the money transmitter, authorized delegate, or person acting on his or her behalf, if the monetary value fails to reach […]
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 […]
399-G:20 License Revocation; Suspension; Penalties. – I. The commissioner may issue an order requiring a person to whom any license has been granted or any person under the commissioner’s jurisdiction to show cause why the license should not be revoked, or suspended, or penalties imposed, or both, for violations of this chapter. II. (a) […]
399-G:21 Cease and Desist. – I. The department may issue a cease and desist order against any person who it has reasonable cause to believe is in violation of the provisions of this chapter or any rule or order under this chapter. II. (a) Delivery of such order shall be by hand or certified […]
399-G:22 Prosecution of Violations. – I. Any person who willfully violates any provisions of RSA 399-G:14, or a cease and desist order or injunction issued pursuant to RSA 399-G:21 shall be guilty of a class B felony. Each of the acts specified shall constitute a separate offense and a prosecution or conviction for any […]
399-G:23 Penalty. – I. Any person who violates any provision of this chapter shall be guilty of a misdemeanor for each violation if a natural person, or guilty of a felony for each violation if any other person. II. Any person who knowingly violates any provision of this chapter, or any rule adopted under […]
399-G:24 Administration by Commissioner; Rulemaking. – I. The commissioner shall administer and enforce the provisions of this chapter. II. Pursuant to RSA 541-A, the commissioner may adopt such rules as he or she deems necessary to the administration and enforcement of this chapter. Such rules shall be consistent with the provisions of this chapter, […]
399-G:25 Repealed by 2016, 205:2, eff. Nov. 1, 2020. –
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. […]
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 […]
