§ 361.1011

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS Chapter 361 • Effective - 28 Aug 2024 361.1011. Enforcement. — 1. The director may suspend or revoke a license or order a licensee to revoke the designation of an authorized delegate if: (1) The licensee violates sections 361.900 to 361.1035 or a rule adopted or an order issued under sections 361.900 to 361.1035; (2) The licensee does not cooperate with an examination or investigation by the director; (3) The licensee engages in fraud, intentional misrepresentation, or gross negligence; (4) An authorized delegate is convicted of, or enters a plea of guilty or nolo contendere to a felony involving an act of fraud, dishonesty, a breach of trust, or money laundering, or violates a rule adopted or an order issued under sections 361.900 to 361.1035 as a result of the licensee's willful misconduct or willful blindness; (5) The competence, experience, character, or general fitness of the licensee, authorized delegate, person in control of a licensee, key individual, or responsible person of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission; (6) The licensee engages in

ensee, key individual, or responsible person of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission; (6) The licensee engages in an unsafe or unsound practice; (7) The licensee is insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors; or (8) The licensee does not remove an authorized delegate after the director issues and serves upon the licensee a final order including a finding that the authorized delegate has violated sections 361.900 to 361.1035. 2. In determining whether a licensee is engaging in an unsafe or unsound practice, the director may consider the size and condition of the licensee's money transmission, the magnitude of the loss, the gravity of the violation of sections 361.900 to 361.1035, and the previous conduct of the person involved. ­­-------- (L. 2024 S.B. 1359)