6-1216. Report of condition

171 words·~1 min read·/az/title-6/6-1216

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. Each licensee shall submit a report of condition within forty-five days after the end of the calendar quarter or within any extended time as the director prescribes.

B. The report of condition shall include:

1. A consolidated financial statement, including a balance sheet and income and expense statements at the licensee level.

2. Nationwide and state-specific money transmission transaction information in every jurisdiction in the United States where the licensee is licensed to engage in money transmission.

3. A permissible investments report.

4. Transaction destination country reporting for money received for transmission. This paragraph applies only to a report of condition submitted within forty-five days after the end of the fourth calendar quarter.

5. Any other information the director reasonably requires with respect to the licensee.

C. The director may use NMLS for the submission of the report required by this section and is authorized to change or update as necessary the requirements of this section to carry out the purposes of this article and maintain consistency with NMLS reporting.