(a)The director may issue to a licensee
an order to show cause why the licensee's license should not be revoked
or suspended for a period determined by the department.
(b)An order issued under subsection (a) must:
(1)include:
(A)a statement of the place, date, and time for a meeting with
the department, which date may not be less than ten (10) days
from the date of the order;
(B)a description of the action contemplated by the department;
and
(C)a statement of the facts or conduct supporting the issuance
of the order; and
(2)be accompanied by a notice stating that the licensee is entitled
to:
(A)a reasonable opportunity to be heard; and
(B)show the licensee's compliance with all lawful requirements
for retention of the license;
at the meeting described in subdivision (1)(A).
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(a) The director may issue to a licensee
an order to show cause why the licensee's license should not be revoked
or suspended for a period determined by the department.
(b) An order issued under subsection (a) must:
(1) include:
(A) a statement of the place, date, and time for a meeting with
the department, which date may not be less than ten (10) days
from the date of the order;
(B) a description of the action contemplated by the department;
and
(C) a statement of the facts or conduct supporting the issuance
of the order; and
(2) be accompanied by a notice stating that the licensee is entitled
to:
(A) a reasonable opportunity to be heard; and
(B) show the licensee's compliance with all lawful requirements
for retention of the license;
at the meeting described in subdivision (1)(A).
(c) After the meeting described in subsection (b)(1)(A), the
department may revoke or suspend the license if the department finds
that:
(1) the licensee has repeatedly and willfully violated:
(A) this chapter or any applicable rule, order, or guidance
document adopted or issued by the department; or
(B) any other state or federal law, regulation, or rule applicable
to the business of money transmission;
(2) the licensee does not meet the licensing qualifications set forth
in this chapter;
(3) the licensee obtained the license for the benefit of, or on
behalf of, a person who does not qualify for the license;
(4) the licensee knowingly or intentionally made material
misrepresentations to, or concealed material information from, the
department;
(5) the licensee did not cooperate with an examination or
investigation by the director;
(6) the licensee engaged in fraud, intentional misrepresentation,
or gross negligence;
(7) an authorized delegate has been convicted of a violation of a
state or federal money laundering statute, or has violated a rule
adopted or an order issued under this chapter, as a result of the
licensee's willful misconduct or willful ignorance of the situation;
(8) the competence, experience, character, or general fitness of
the licensee, an authorized delegate of the licensee, a person in
control of the licensee, a key individual with respect to the
licensee, or a responsible person of an authorized delegate of the
licensee indicates that it is not in the public interest to permit the
person to provide money transmission;
(9) the licensee has engaged in an unsafe or unsound practice;
(10) the licensee is insolvent, has suspended payment of its
obligations, or has made a general assignment for the benefit of
its creditors;
(11) the licensee has not removed an authorized delegate after the
department has issued and served upon the licensee a final order
that included a finding that the authorized delegate has violated
this chapter; or
(12) facts or conditions exist that, had they existed at the time the
licensee applied for the license, would have been grounds for the
department to deny the issuance of the license.
(d) In determining whether a licensee is engaging in an unsafe or
unsound practice, the director 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.
(e) Whenever the department revokes or suspends a license, the
department shall enter an order to that effect and notify the licensee of:
(1) the revocation or suspension;
(2) if a suspension has been ordered, the duration of the
suspension;
(3) the procedure for appealing the revocation or suspension
under IC 4-21.5-3-6; and
(4) any other terms and conditions that apply to the revocation or
suspension.
Not later than five (5) days after the entry of the order, the department
shall deliver to the licensee a copy of the order and the findings
supporting the order.
(f) Any person holding a license to engage in the business of money
transmission may relinquish the license by notifying the department in
writing of the relinquishment. However, a relinquishment under this
subsection does not affect the person's liability for acts previously
committed and coming within the scope of this chapter.
(g) If the director determines it to be in the public interest, the
director may pursue the revocation of a license of a licensee that has
relinquished the license under subsection (f).
(h) If a person's license is revoked, suspended, or relinquished, the
revocation, suspension, or relinquishment does not impair or affect any
obligation owed by any person under any existing lawful contract.
(i) If the director has just cause to believe an emergency exists from
which it is necessary to protect the interests of the public, the director
may proceed with the revocation of a license through an emergency or
another temporary order.