§ 11-110-704 — Reports of certain events

(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.

Legislative History

Source: L. 2025: Entire article R&RE, (HB 25-1201), ch. 91, p. 398, � 1, effective August 6.