8-2707. Licensee or authorized delegate; supervision; director; powers; violation of act; administrative fine.
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/ne/chapter-8/8-2707A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The director may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by the Nebraska Money Transmitters Act or by a rule or regulation adopted and promulgated or an order issued under the act as reasonably necessary or appropriate to administer and enforce the act, rules and regulations implementing the act, or other applicable law, including the Bank Secrecy Act and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001. The director may:
(a)Conduct an examination as the director may reasonably require;
(b)Conduct an examination in conjunction with an examination conducted by representatives of other state agencies or agencies of another state or of the federal government;
(c)Accept the examination report of another state agency or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which on being accepted, is considered for all purposes as an official report of the director; and
(d)Summon and examine under oath a key individual or employee of a licensee or authorized delegate and require the person to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.
(2)A licensee or authorized delegate shall provide, and the director shall have full and complete access to, all records the director may reasonably require to conduct a complete examination. The records shall be provided at a location and in a format specified by the director. The director may utilize multistate record production standards and examination procedures when such standards will reasonably achieve the requirements of this subsection.
(3)Upon receipt by a licensee, an authorized delegate, or any other person of a notice of investigation or inquiry request for information from the department, the licensee, authorized delegate, or other person shall respond within twenty-one calendar days after receipt. Failure to respond is a violation of the Nebraska Money Transmitters Act. Each day a licensee, authorized delegate, or other person fails to respond shall constitute a separate violation of the act.
(4)If the director finds, after notice and opportunity for hearing in accordance with the Administrative Procedure Act, that any person has violated the Nebraska Money Transmitters Act pursuant to subsection
(3)of this section, the director may order such person to pay an administrative fine of not more than five thousand dollars for each separate violation and the costs of investigation.
(5)Unless otherwise directed by the director, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee's authorized delegates.