KRS 286.11-023: Extraordinary reporting requirements.

A licensee shall file a written report with the commissioner within fifteen (15) business

days of its knowledge of the occurrence of any one (1) of the events listed below. In the

written report, the licensee shall describe the event and its expected impac t on the

licensee's activities in the state:

(1) Any material change in information provided in a licensee's application or renewal

report;

(2) The cancellation or other impairment of the licensee's bond or other similar security

accepted by the commissioner;

(3) Insolvency or the filing for bankruptcy or reorganization under the United States

Bankruptcy Code, 11 U.S.C. secs. 101 to 110, by the licensee, responsible

individual, any agent, or any key officers or directors;

(4) The filing of a petition by or against the licensee, or any agent of the licensee, for

receivership, the commencement of any other judicial or administrative proceeding

for its dissolution or reorganization, or the making of a general assignment for the

benefit of its creditors;

(5) The filing of any material litigation against the licensee by any state or federal

governmental authority, or by any country in which the licensee engages in the

business of money transmission or is licensed;

(6) Any felony indictment of the licensee, respons ible individual, agent, or any of its

key officers or directors;

(7) Any felony conviction of the licensee, responsible individual, agent, or any of its

key officers or directors;

(8) Any misdemeanor conviction of the licensee, responsible individual, agen t, or any

of its key officers or directors of any misdemeanor involving the business of money

transmission; and

(9) Any misdemeanor conviction of the licensee, responsible individual, agent, or any

of its key officers or directors of any misdemeanor involv ing fraud, theft, or breach

of trust.