Idaho Statutes
pecnv.out

TITLE 26
BANKS AND BANKING
CHAPTER 29
MONEY TRANSMISSION
26-2917.  Suspension or revocation of licenses. After notice and opportunity for hearing, the director may suspend or revoke a licensee’s license if the director finds that:
(1)  Any fact or condition exists that, if it had existed at the time when the licensee applied for a license, would have been grounds for denying such application;
(2)  The licensee’s net worth becomes inadequate and the licensee, after ten (10) days’ written notice from the director, fails to take such steps as the director deems necessary to remedy such deficiency;
(3)  The licensee violates any provisions of this chapter or any rule or order of the director under the provisions of this chapter or is convicted of a violation of a state or federal money laundering or terrorism law;
(4)  The licensee is conducting its business in an unsafe or unsound manner;
(5)  The licensee is insolvent;
(6)  The licensee has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due;
(7)  The licensee has applied for an adjudication of bankruptcy, reorganization, arrangement or other relief under any bankruptcy;
(8)  The licensee refuses to permit the director to make any examination authorized in this chapter;
(9)  The licensee willfully fails to make any report required in this chapter; or
(10) The licensee, any person who exercises any managerial authority over the licensee’s activities, or any of its executive officers or other persons in control of the licensee are listed or become listed on the "specially designated nationals and blocked persons" list prepared by the United States department of the treasury as a potential threat to commit terrorist acts or to finance terrorist acts.

History:
[26-2917, added 1994, ch. 410, sec. 1, p. 1292; am. 2005, ch. 142, sec. 4, p. 440.]


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