TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 46

ADMINISTRATION

PART 4.

PAYDAY LOANS

28-46-408.  Reports to administrator. Within fifteen (15) days of the occurrence of any of the events listed below, a licensee shall file a written report with the administrator describing such events and their expected impact on the activities of the licensee in the state:

(1)  The filing for bankruptcy or reorganization by the licensee;

(2)  The institution of revocation or suspension proceedings against the licensee by any state or governmental authority;

(3)  Any felony indictment of the licensee and, if the licensee is an entity, of any of its members, partners, directors, senior officers or twenty-five percent (25%) or more equity owners;

(4)  Any felony conviction of the licensee and, if the licensee is an entity, of any of its members, partners, directors, senior officers or twenty-five percent (25%) or more equity owners; and

(5)  Such other events as the administrator may determine and identify by rule.

History:

[28-46-408, added 2003, ch. 182, sec. 1, p. 493.]