Special reporting requirements

Within 15 days of the occurrence of any of the events listed below, a licensee shall file a written report with the Superintendent [Commissioner] describing the event and its expected impact on the licensee’s activities in the District: (1) The filing for bankruptcy or reorganization by the licensee; (2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensees’ money transmission activities; (3) Any felony indictment of the licensee or any of its key officers or directors related to money transmission activities; or (4) Any felony conviction of the licensee or any of its key officers or directors related to money transmission activities.