(1) A licensee shall file a report with the banking board within one business day after the licensee has reason to know of the occurrence of any of the following events:
(a) The filing of a petition by or against the licensee under the United States bankruptcy code, 11 U.S.C. secs. 101 to 110, as amended, for bankruptcy or reorganization;
(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for the licensee's dissolution or reorganization, or the making of a general assignment for the benefit of the licensee's creditors; or
(c) The commencement of a proceeding to revoke or suspend the licensee's license in a state or country in which the licensee engages in business or is licensed.
(2) A licensee shall file a report with the banking board within three business days after the licensee has reason to know of the occurrence of any of the following events:
(a) A charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or
(b) A charge or conviction of an authorized delegate for a felony.
Source: L. 2025: Entire article R&RE, (HB 25-1201), ch. 91, p. 398, � 1, effective August 6.