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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-25-206, 2015

A licensee may renew a license for the next 12 months if it applies, shows continued compliance, pays the renewal fee, and includes required renewal documents and information.

Source excerpt

annual compliancefee paymentfinancial reportingfinancial statement reportinglicense renewallitigation disclosuremoney transmissionrenewal application
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 2015
Dates
Enacted 2015
More statute details
Dates
Enacted 2015
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01

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“A licensee may renew a license for the next 12 months if it applies, shows continued compliance, pays the renewal fee, and includes required renewal documents and information.”

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Renewal of license.

A licensee may renew a license for the next 12 months if it applies, shows continued compliance, pays the renewal fee, and includes required renewal documents and information.

Section 7-25-206

Subsection 7-25-206(2)

A licensee must include specified financial, location, litigation, and other required information in its renewal application.

Section 7-25-206(2)

Subsection 7-25-206(2)(b)

material changes to the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter;

Section 7-25-206(2)(b)

Subsection 7-25-206(2)(d)

notification of material litigation or litigation relating to money transmission; and

Section 7-25-206(2)(d)

Subsection 7-25-206(3)

If the renewal fee is not paid or a completed renewal application is not submitted between November 1 and December 31, the license expires at the close of business on December 31.

Section 7-25-206(3)

04

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In force source record

Source record from le.utah.gov · Enacted 2015

In force

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Showing 9 of 9 provisions

Provision 9

Part 7-25-2

part 7-25-2 Licensing

§ 7-25-206Renewal of license.Provision

Source excerpt

A licensee may renew a license for the next 12 months if it applies, shows continued compliance, pays the renewal fee, and includes required renewal documents and information.

Renewal of license. A license issued or renewed pursuant to this chapter expires on December 31. A licensee may renew the license through the nationwide database for the ensuing 12-month period upon application by the license holder showing continued compliance with the requirements of Sections 7-25-201 , 7-25-203 , and 7-25-204 , and the payment of the license renewal fee required by Section 7-1-401 to the commissioner. The licensee shall include in its renewal application: a copy of the licensee's most recent audited unconsolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes in financial position, except that a licensee may provide the most recent audited consolidated annual financial statement of the parent corporation if the statement separately includes the balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes of financial position of the licensee; material changes to the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter; a list of the locations within this state at which business regulated by this chapter is conducted by either the licensee or its authorized agent; notification of material litigation or litigation relating to money transmission; and other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act . Failure to pay the renewal fee or to submit a completed renewal application between November 1 and December 31 shall cause the license to expire at the close of business on December 31.
Section 7-25-206Verify source
§ 7-25-206(1)Subsection 7-25-206(1)Provision

Source excerpt

A license issued or renewed under this chapter expires on December 31, and a licensee may renew it for the next 12 months if the holder applies, remains compliant with specified sections, and pays the renewal fee to the commissioner.

A license issued or renewed pursuant to this chapter expires on December 31. A licensee may renew the license through the nationwide database for the ensuing 12-month period upon application by the license holder showing continued compliance with the requirements of Sections 7-25-201 , 7-25-203 , and 7-25-204 , and the payment of the license renewal fee required by Section 7-1-401 to the commissioner.
Section 7-25-206(1)Verify source
§ 7-25-206(2)Subsection 7-25-206(2)Provision

Source excerpt

A licensee must include specified financial, location, litigation, and other required information in its renewal application.

The licensee shall include in its renewal application: a copy of the licensee's most recent audited unconsolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes in financial position, except that a licensee may provide the most recent audited consolidated annual financial statement of the parent corporation if the statement separately includes the balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes of financial position of the licensee; material changes to the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter; a list of the locations within this state at which business regulated by this chapter is conducted by either the licensee or its authorized agent; notification of material litigation or litigation relating to money transmission; and other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .
Section 7-25-206(2)Verify source
§ 7-25-206(2)(a)Subsection 7-25-206(2)(a)Provision

Source excerpt

A licensee must provide a copy of its most recent audited unconsolidated annual financial statement, unless it may instead provide the parent corporation’s most recent audited consolidated annual financial statement that separately includes the listed licensee financial statements.

a copy of the licensee's most recent audited unconsolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes in financial position, except that a licensee may provide the most recent audited consolidated annual financial statement of the parent corporation if the statement separately includes the balance sheet, statement of income or loss, statement of changes in shareholder's equity, and statement of changes of financial position of the licensee;
Section 7-25-206(2)(a)Verify source
§ 7-25-206(2)(b)Subsection 7-25-206(2)(b)Provision

Source excerpt

material changes to the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter;

material changes to the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter;
Section 7-25-206(2)(b)Verify source
§ 7-25-206(2)(c)Subsection 7-25-206(2)(c)Provision

Source excerpt

a list of the locations within this state at which business regulated by this chapter is conducted by either the licensee or its authorized agent;

a list of the locations within this state at which business regulated by this chapter is conducted by either the licensee or its authorized agent;
Section 7-25-206(2)(c)Verify source
§ 7-25-206(2)(d)Subsection 7-25-206(2)(d)Provision

Source excerpt

notification of material litigation or litigation relating to money transmission; and

notification of material litigation or litigation relating to money transmission; and
Section 7-25-206(2)(d)Verify source
§ 7-25-206(2)(e)Subsection 7-25-206(2)(e)Provision

Source excerpt

other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .

other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .
Section 7-25-206(2)(e)Verify source
§ 7-25-206(3)Subsection 7-25-206(3)Provision

Source excerpt

If the renewal fee is not paid or a completed renewal application is not submitted between November 1 and December 31, the license expires at the close of business on December 31.

Failure to pay the renewal fee or to submit a completed renewal application between November 1 and December 31 shall cause the license to expire at the close of business on December 31.
Section 7-25-206(3)Verify source

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