3 AAC 13.050 - Renewal of approval or money transmission license
(a) The department
may deny renewal of a money transmission license, including an approval under
AS
06.55.103, on the same grounds for which the
license may be revoked or suspended under
AS
06.55.601 or this chapter, including the
failure to provide proof of adequate security.
(b) If the money transmission licensee fails
to make a timely request for renewal of the license, the department will send a
notice of suspension to the licensee at the address most recently provided to
the department by the licensee.
(c)
The department will extend the date for renewing a money transmission license
if the licensee makes a written request for an extension not later than 30 days
before the anniversary date of the issuance of the money transmission license
and the department finds that the licensee has shown the requested extension of
time is reasonably necessary in order to submit the documentation required in
AS
06.55.106.
(d) A request to renew a money transmission
license must be made to the department through the registry.
Notes
Authority:AS 06.55.103
AS 06.55.106
AS 06.55.990
AS 44.33.020
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