(1) A person who violates this chapter or who files materially false information with a license application or renewal under this chapter is: (a) guilty of a class B misdemeanor; and (b) subject to revocation of the person's license under this chapter.
(a) guilty of a class B misdemeanor; and
(b) subject to revocation of the person's license under this chapter.
(2) Subject to Title 63G, Chapter 4, Administrative Procedures Act, if the commissioner determines that a person is engaging in the business of money transmission in violation of this chapter, the commissioner may: (a) suspend, revoke, or not renew that person's license under this chapter; (b) issue a cease and desist order from committing any further violation; (c) prohibit the person from continuing to engage in the business of money transmission; (d) impose an administrative fine not to exceed $1,000 per violation, except that the aggregate total of fines imposed under this chapter against a person in a calendar year may not exceed $30,000 for that calendar year; or (e) take any combination of actions listed under this Subsection (2).
(a) suspend, revoke, or not renew that person's license under this chapter;
(b) issue a cease and desist order from committing any further violation;
(c) prohibit the person from continuing to engage in the business of money transmission;
(d) impose an administrative fine not to exceed $1,000 per violation, except that the aggregate total of fines imposed under this chapter against a person in a calendar year may not exceed $30,000 for that calendar year; or
(e) take any combination of actions listed under this Subsection (2).
(3) If the commissioner revokes a license, the department is not required to refund any portion of the licensee's filing or renewal fee for the remainder of the period for which the fee is paid.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.