§ 40-22-121 — Suspension or revocation of authorized delegates

(a) The commissioner may issue an order to the licensee
suspending or revoking the designation of an authorized delegate
or subdelegate if the commissioner finds that:
(i) The authorized delegate or subdelegate violated
this act or a rule adopted or an order issued under this act;
(ii) The authorized delegate or subdelegate has not
cooperated with an examination or investigation by the
commissioner;
(iii) The authorized delegate or subdelegate has
engaged in fraud, intentional misrepresentation or gross
negligence;
(iv) The authorized delegate or subdelegate has been
convicted of a violation of a state or federal money laundering
statute;
(v) The competence, experience, character or general
fitness of the authorized delegate or subdelegate or a person in
control of the authorized delegate or subdelegate indicates that
it is not in the public interest to permit the authorized
delegate or subdelegate to provide money transmission services;
or
(vi) The authorized delegate or subdelegate has
engaged in an unsafe or unsound practice.
(b) In determining whether an authorized delegate or
subdelegate has engaged in an unsafe or unsound practice the
commissioner may consider the size and condition of the
authorized delegate's or subdelegate's provision of money
services, the magnitude of the loss, the gravity of the
violation of this act and the previous conduct of the authorized
delegate or subdelegate.
(c) An authorized delegate or subdelegate may apply for
relief from a suspension or revocation designation as an
authorized delegate or subdelegate according to procedures
prescribed by the commissioner.