Section 6111.1 - Licensee requirements(1) Operate in a safe and sound manner, ensuring that its practices and the practices of its agents, if applicable, do not create the likelihood of material loss, insolvency or dissipation of assets, or otherwise materially prejudice the interest of individuals who use the licensee's services to transmit money.(2) Comply with all applicable Federal or State laws and rules pertaining to the business of money transmission.(3) Register all of its agents who engage in the business of money transmission involving individuals who are located in this Commonwealth.(4) On a date determined by the department, file a report setting forth such information as the department shall require concerning the money transmission business conducted by the licensee. Licensees who fail to file the required report by the date required by the department may be subject to a penalty of one hundred dollars ($100) for each day after the due date until the report is filed.(5) Provide the department with written notice within ten days of any change in status, including address, ownership, directors, officers, contact information and the reason for the change.(6) Maintain at all times the bond and tangible net worth required by this act.Added by P.L. TBD 2016 No. 129, § 12, eff. 1/2/2017.