6.2-1917 - (Effective October 1, 2010) Other reporting requirements. - Virginia Statutes

§ 6.2-1917. (Effective October 1, 2010) Other reporting requirements.

A. A licensee or other person shall file a report with the Commission within15 days after the licensee or other person becomes aware of any materialchanges in information previously provided in an application filed under §6.2-1903 or 6.2-1914. This requirement shall be applicable only to materialchanges that occur within one year after the date the licensee beginsbusiness or the acquisition is consummated.

B. A licensee shall file with the Commission no later than 45 days after theend of each fiscal quarter its quarterly financial statements along with acurrent list of all authorized delegates and locations in the Commonwealthwhere the licensee or an authorized delegate of the licensee sells moneyorders or receives money for transmission. The licensee shall state the name,street address, and telephone number of each location and authorized delegate.

C. A licensee shall file a report with the Commission within one business dayafter the licensee becomes aware of the occurrence of any of the followingevents:

1. The filing of a petition by or against the licensee for bankruptcy orreorganization;

2. The filing of a petition by or against the licensee for receivership, thecommencement of any other judicial or administrative proceeding for itsdissolution or reorganization, or the making of a general assignment for thebenefit of its creditors;

3. The commencement of administrative or regulatory proceedings against thelicensee by any governmental authority;

4. The cancellation or other impairment of the licensee's bond or othersecurity;

5. Any felony indictment of the licensee or any of its members, partners,directors, officers, principals, or authorized delegates;

6. Any felony conviction of the licensee or any of its members, partners,directors, officers, principals, or authorized delegates; or

7. Such other events as the Commission may prescribe by regulation.

D. A licensee shall within 10 days notify the Commissioner, in writing, ofthe name, address and position of each new member, senior officer, partner,or director and provide such other information with respect to any suchchange as the Commissioner may reasonably require.

(2009, c. 346, § 6.1-378.6; 2010, c. 794.)