53B.45 REPORT OF CONDITION.

147 words·~1 min read·/mn/chapter-53/53b-45

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

(a)Each licensee must submit a report of condition within 45 days of the end of the calendar quarter, or within any extended time the commissioner prescribes.

(b)The report of condition must include:

(1)financial information 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, if applicable; and

(5)any other information the commissioner reasonably requires with respect to the licensee.

(c)The commissioner is authorized to use NMLS to submit the report required under paragraph (a).

(d)The information required by paragraph (b), clause (4), must only be included in a report of condition submitted within 45 days of the end of the fourth calendar quarter.