Section 399-G:12 - [Effective 10/22/2024] Maintenance of License; License SurrenderI. If at any point the licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this chapter and as required in RSA 541-A.II. An applicant for money transmission license must demonstrate that it meets or will meet, and a money transmission licensee must at all times meet, the net worth, surety bond, and permissible investment requirements established in this chapter.III. A licensee who ceases to engage in the business of money transmission at any time during a license year for any cause shall surrender such principal license and any authorized delegate registrations, and within 15 calendar days of such cessation shall publish, whether in a newspaper of general circulation in the licensee's market area or via electronic means such as the licensee's Internet website, a notice to such effect. The licensee shall provide any documentation the commissioner may require as part of the surrender request. Surrender of a licensee shall not take effect until the commissioner deems the surrender process complete.IV. Failure to comply with paragraph III shall be cause for a denial of future license applications and the imposition of penalties under RSA 399-G:34.Amended by 2024, 368:1, eff. 10/22/2024.Amended by 2021 , 194: 28, eff. 10/9/2021.Amended by 2018 , 207: §§10, 11eff. 8/7/2018.Amended by 2015 , 258: 1, eff. 1/1/2016. 2015, 258 : 1 , eff. Jan. 1, 2016. 2018, 207 : 10 , 11 eff. Aug. 7, 2018. 2021, 194 : 28 , eff. Oct. 9, 2021.
This section is set out more than once due to postponed, multiple, or conflicting amendments.