Alaska Stat. § 06.55.602
This is the official text of Alaska Stat. § 06.55.602, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Suspension and revocation of authorized delegates.
Official statutory text
(a) The department may issue an order suspending or revoking the designation of an authorized delegate if the department finds that (1) the authorized delegate violated this chapter or a regulation adopted or an order issued under this chapter;
(2) the authorized delegate did not cooperate with an examination or investigation by the department;
(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 permit the authorized delegate to provide money services; or
(6) the authorized delegate is engaging in an unsafe or unsound practice.
(b) In determining whether an authorized delegate is engaging in an unsafe or unsound practice, the department may consider the size and condition of the authorized delegate's provision of money services, the magnitude of the loss, the gravity of the violation of this chapter or a regulation adopted or order issued under this chapter, and the previous conduct of the authorized delegate.
(2) the authorized delegate did not cooperate with an examination or investigation by the department;
(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 permit the authorized delegate to provide money services; or
(6) the authorized delegate is engaging in an unsafe or unsound practice.
(b) In determining whether an authorized delegate is engaging in an unsafe or unsound practice, the department may consider the size and condition of the authorized delegate's provision of money services, the magnitude of the loss, the gravity of the violation of this chapter or a regulation adopted or order issued under this chapter, and the previous conduct of the authorized delegate.
Status: in_force · Read it on the official government site
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