(1) The commissioner may suspend or revoke a license or order a licensee to revoke the designation of an authorized delegate if:(a) The licensee or any authorized delegate, agent, or representative violates this chapter or a rule or regulation adopted or an order issued under this chapter;(b) The licensee or any authorized delegate, agent, or representative does not cooperate with an examination or investigation by the commissioner;(c) The licensee or any authorized delegate, agent, or representative engages in fraud, intentional misrepresentation, or gross negligence;(d) An authorized delegate is convicted of a violation of a state or federal anti-money laundering statute, or violates a rule or regulation adopted or an order issued under this chapter, as a result of the licensee’s willful misconduct or willful blindness;(e) The competence, experience, character, or general fitness of the licensee, authorized delegate, person in control of a licensee, key individual, or responsible person of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission;(f) The licensee or any authorized delegate, agent, or representative engages in an unsafe or unsound practice;(g) The licensee is insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors;(h) The licensee does not remove an authorized delegate after the commissioner issues and serves upon the licensee a final order including a finding that the authorized delegate has violated this chapter; or(i) The licensee is a virtual currency kiosk operator who has violated Sections 75-14-51 through 75-14-71.
(a) The licensee or any authorized delegate, agent, or representative violates this chapter or a rule or regulation adopted or an order issued under this chapter;
(b) The licensee or any authorized delegate, agent, or representative does not cooperate with an examination or investigation by the commissioner;
(c) The licensee or any authorized delegate, agent, or representative engages in fraud, intentional misrepresentation, or gross negligence;
(d) An authorized delegate is convicted of a violation of a state or federal anti-money laundering statute, or violates a rule or regulation adopted or an order issued under this chapter, as a result of the licensee’s willful misconduct or willful blindness;
(e) The competence, experience, character, or general fitness of the licensee, authorized delegate, person in control of a licensee, key individual, or responsible person of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission;
(f) The licensee or any authorized delegate, agent, or representative engages in an unsafe or unsound practice;
(g) The licensee is insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors;
(h) The licensee does not remove an authorized delegate after the commissioner issues and serves upon the licensee a final order including a finding that the authorized delegate has violated this chapter; or
(i) The licensee is a virtual currency kiosk operator who has violated Sections 75-14-51 through 75-14-71.
(2) In determining whether a licensee is engaging in an unsafe or unsound practice, the commissioner may consider the size and condition of the licensee’s money transmission, the magnitude of the loss, the gravity of the violation of this chapter, and the previous conduct of the person involved.