Money Transmission

ORS 717.245
Events requiring filing of report with director


Within 15 days following the occurrence of any one of the events listed in this section, a licensee shall file a written report with the Director of the Department of Consumer and Business Services describing the event and the event’s expected effect on the licensee’s activities in this state:

(1)

The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner;

(2)

The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities;

(3)

Any felony indictment of the licensee or any of its key officers or directors;

(4)

Any felony conviction of the licensee or any of its key officers or directors; or

(5)

The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]

Source

Last accessed
Jun. 26, 2021