Within fifteen (15) days of the occurrence of any one (1) of the events listed below, a licensee shall file a written report with the director describing such event:
(1)  The filing for bankruptcy or reorganization by the licensee;
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Terms Used In Idaho Code 26-2912

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Director: means the director of the department of finance. See Idaho Code 26-2902
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Licensee: means a person licensed under the provisions of this chapter. See Idaho Code 26-2902
  • Money transmission: means the sale or issuance of payment instruments or engaging in the business of receiving money for transmission or the business of transmitting money within the United States or to locations outside the United States by any and all means including, but not limited to, payment instrument, wire, facsimile or electronic transfer. See Idaho Code 26-2902
  • State: means the state of Idaho. See Idaho Code 26-2902
(2)  The institution of revocation or suspension proceedings against the licensee by any state or government authority with regard to the licensee’s money transmission activities;
(3)  Any felony indictment, complaint or information of the licensee or any of its key officers or directors; or
(4)  Any felony conviction of the licensee or any of its key officers or directors.