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§ 80.4104. Information Regarding History and Business.

10 CA ADC § 80.4104Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 1. Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 80. Money Transmission
Article 5. Issuance of License
Subarticle 2. Application
10 CCR § 80.4104
§ 80.4104. Information Regarding History and Business.
Currentness
(a) Provide the legal name and residential business address of the applicant and any fictitious or trade name used by the applicant in conducting its business.
(b) Provide the date of the applicant's incorporation or formation and the state or country of incorporation or formation.
(c) Summarize the history of the applicant.
(d) Describe the business of the applicant.
(e) Explain the reason(s) why the applicant wishes to engage in the money transmission business.
(f) Provide the name, business address, and telephone number of at least two banking and two business references.
(g) Provide a list of other states in which the applicant is licensed to engage in money transmission and any license revocations, suspensions, or other disciplinary action taken against the applicant in another state.
(h) Provide a copy of the applicant's most recent independent review regarding compliance with federal anti-money laundering laws, including the U.S. Patriot Act and the Bank Secrecy Act, and the applicant's response to such review.
(i) In case any of the following has occurred or is pending with respect to the applicant, any person who controls the applicant, any director or officer of the applicant, or any subsidiary of the applicant, describe the circumstances:
(1) If any court or governmental agency has, for any reason, suspended or revoked any license or other authorization or qualification to engage in any profession, occupation, vocation, or other business activity.
(2) Information concerning any bankruptcy or receivership proceedings or an application has been made for reorganization, arrangement, or other relief under any bankruptcy, reorganization, insolvency, or moratorium law;
(3) An application has been made by a third party for the appointment of a receiver, fiscal agent, or similar officer or for other relief of the kind described in subdivision (i)(2);
(4) Suffered judgment in any civil action based upon conduct involving fraud or dishonesty; or,
(5) Been convicted of, pleaded nolo contendere to, or is being charged with, any crime relating to the business of transmitting money, the business of issuing or selling payment instruments, issuing or selling stored value, the business of banking, the business of a bank holding company, the securities business, or any crime involving fraud or dishonesty.

Credits

Note: Authority cited: Section 2032, Financial Code. Reference: Sections 2032 and 2123, Financial Code.
History
1. Repealer of subsection (a), subsection relettering, and redesignation of newly designated subsections (b)(1)(B)(i)-(iii) to subsections (b)(1)(B)1.-3. filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).
2. Amendment of section and Note filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 10, § 80.4104, 10 CA ADC § 80.4104
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