(a) If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this chapter or other applicable state law for such suspension or revocation.(b) An applicant for a money transmission license must demonstrate that it meets or will meet the requirements in §§ 45-7-135, 45-7-136, and 45-7-137. A money transmission licensee must at all times meet the requirements in §§ 45-7-135, 45-7-136, and 45-7-137.Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024.Acts 1994, ch. 715, § 1; T.C.A., § 45-7-217.
Tennessee Legal Code