Events requiring filing of report with director. Within 15 days following the occurrence of any one of the events listed in this section, a licensee shall file a written report with the Director of the Department of Consumer and Business Services describing the event and the event’s expected effect on the licensee’s activities in this state

(1) The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner;

(2) The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities;

(3) Any felony indictment of the licensee or any of its key officers or directors;

(4) Any felony conviction of the licensee or any of its key officers or directors; or

(5) The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]