Chapter 169

Section 1. This chapter shall apply to all persons who engage or are financially interested in the business of receiving deposits of money for the purpose of transmitting the same or equivalents thereof to foreign countries, except banks chartered by the commonwealth, banks chart…

Section 10. A licensee shall keep such books, accounts and records as will enable the commissioner to determine whether such licensee is in compliance with the provisions of this chapter and rules and regulations made pursuant thereto and any other law, rule and regulation applic…

Section 11. The commissioner, if he has reason to believe that a person other than a licensee has violated any of the provisions of this chapter, shall be authorized to make such investigations as he shall deem necessary and may examine such other person and shall compel the prod…

Section 12. The commissioner may suspend or revoke any license issued pursuant to this chapter if he finds that: (a) the licensee has violated any provision of this chapter or any rule or regulation adopted hereunder or any other law applicable to the conduct of such business; or…

Section 13. (a) If the commissioner determines, after notice and opportunity for a hearing, that a licensee has engaged in or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule, regulation or order pursuant hereto, said…

Section 14. If, after examination, it appears that a licensee is insolvent or that its capital is impaired or that its condition is such as to render the continuance of its business hazardous to the public or to those having funds in its custody, the commissioner shall apply or, …

Section 15. The commissioner may enforce the provisions of this chapter or restrain violations thereof by filing a civil action in the superior court department of the trial court.

Section 16. Whoever violates any provision of this chapter or any rule or regulation made hereunder by the commissioner shall be punished by a fine of not more than one thousand dollars or by imprisonment for not more than one year, or both.

Section 2. Every person subject to section one, before engaging or becoming financially interested or continuing to engage or be financially interested in the business of receiving deposits of money for the purpose of transmitting the same or equivalents thereof to foreign countr…

Section 3. Except as otherwise expressly provided herein, the provisions of this section shall apply to the bonds required by section two. Each such bond shall be executed by the person of whom it is required, as principal, and a surety company, approved by the commissioner, as s…

Section 4. The state treasurer shall keep a record, which shall be open to public inspection, of such bonds filed with him with the names and places of business of the principals and the name of any surety company, and the name of the officer before whom the bond was executed or …

Section 5. An action to recover on such bond may be brought by an aggrieved party in the superior court department of the trial court.

Section 6. The application for a license shall be in writing and on a form prescribed by the commissioner which shall contain the name and complete address where the business of such applicant is located and, if the applicant is a partnership, association, corporation or other bu…

Section 7. The commissioner may, from time to time, prescribe such rules and regulations as may be necessary to carry out the provisions of this chapter. Such rules and regulations may contain such classifications, differentiations or other provisions and may provide for such adj…

Section 8. All money received for transmission to a foreign country by any licensee shall be forwarded to the person to whom the same is directed within seven days following receipt thereof. Receipts given for deposits of money received for transmission to a foreign country shall…

Section 9. A licensee shall annually make a report to the commissioner, on or before a date to be determined by the commissioner, and at such other times as the commissioner may specify, in such form as the commissioner may prescribe, which form shall disclose the condition of th…