Within fifteen (15) days of the occurrence of any one of the following events, a licensee shall file a written report with the Administrator of the Department of Consumer Credit describing the event and its expected impact on the activities of the licensee in this state:
1. The filing for bankruptcy or reorganization by the licensee;
2. Revocation or suspension proceedings instituted against the licensee by any state or governmental authority;
3. The denial of the opportunity to engage in the business of making loans by any state or governmental authority;
4. Any felony indictment of the licensee or any of its directors, officers or principals;
5. Any felony conviction of the licensee or any of its directors, officers or principals; and
6. Other events that the Administrator may determine and identify by administrative regulation.
Added by Laws 2019, c. 89, § 22, eff. Nov. 1, 2019.
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