Iowa Code § 533C.307: Maintenance of license.

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 superintendent 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.

1. An applicant for a money transmission license shall demonstrate that the applicant meets or will meet the requirements of sections 533C.801, 533C.802, and 533C.803.

2. A money transmission licensee shall at all times meet the requirements of sections 533C.801, 533C.802, and 533C.803.