11 GCA § 109105: Denial of Foreign Exchange License.

The Commissioner may deny an application for a license issued pursuant to this Article if, after a hearing pursuant to the provisions of the Administrative Adjudication Act, he finds that:

(a) The granting of the license will be against public interest;

(b) The applicant does not intend actively and in good faith to carry on as a business with the general public the transaction which would be permitted by the issuance of the license applied for;

(c) The applicant, and if a corporation, a director or officer thereof is not of good business reputation;

(d) The applicant, and if a corporation, a director or officer thereof, is lacking in integrity;

(e) The applicant, and if a corporation, a director or officer thereof, has been refused a professional, occupational or vocational license or had such a license suspended or revoked by any licensing authority for reasons that should preclude the granting of the license applied for;

(f) The applicant has knowingly or willfully made a misstatement in an application to the Commissioner for a license, or in a document filed in support of such application, or has made a false statement in testimony given under oath before the Commissioner or any other person acting in his stead;

(g) The applicant, and if a corporation, a director or officer thereof, has previously engaged in a fraudulent practice or act or has conducted any business in an unlawful or dishonest manner;

(h) The applicant, and if a corporation, a director or officer thereof, has shown incompetency or untrustworthiness in the conduct of any business, or has by commission of a wrongful act or practice in the course of any business exposed the public or those dealing with him to the danger of loss;

(i) The applicant, and if a corporation, a director or officer thereof, has failed to perform a duty expressly enjoined upon him by a provision of this Article or the rules promulgated by the Commissioner or has committed an act expressly forbidden by such provisions or by such rules;

(j) The applicant, and if a corporation, a director or officer thereof, has been convicted of:

(1) A felony;

(2) Any crime involving moral turpitude; or

(3) A public offense having as one of its necessary elements a fraudulent act or an act of dishonesty in acceptance, custody, or payment of money or property;

(k) The applicant, and if a corporation, a director or officer thereof, has aided or abetted any person in an act or omission which would constitute grounds for the suspension, revocation or refusal of a license issued under this Article to the person aided or abetted; or

(1) The applicant has permitted any person in his employ to violate any provision of this Article.