6-1232. Authorized delegate suspension and revocation

189 words·~1 min read·/az/title-6/6-1232

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

A. The director may suspend or revoke the designation of an authorized delegate if the director finds that:

1. The authorized delegate violated this article.

2. The authorized delegate did not cooperate with an examination or investigation by the director.

3. The authorized delegate engaged in fraud, intentional misrepresentation or gross negligence.

4. The authorized delegate is convicted of a violation of a state or federal anti-money laundering statute.

5. The competence, experience, character or general fitness of the authorized delegate or a person in control of the authorized delegate indicates that it is not in the public interest to allow the authorized delegate to provide money transmission.

6. The authorized delegate is engaging in an unsafe or unsound practice. To determine whether an authorized delegate is engaging in an unsafe or unsound practice, the director may consider the size and condition of the authorized delegate's provision of money transmission, the magnitude of the loss, the gravity of the violation of this article and the previous conduct of the authorized delegate.

B. An authorized delegate may appeal a suspension or revocation pursuant to title 41, chapter 6, article 10.