Contents 489D-1 Short title 489D-2 Purpose 489D-3 License required 489D-4 Definitions 489D-5 Exclusions 489D-6 License qualifications 489D-6.2 Registration with NMLS 489D-7 Bond or other security device 489D-8 Permissible investments and statutory trust 489D-9 License and registration; application 489D-9.5 Limited exemption for financial institutions; financial institutions as authorized delegates 489D-10 Application and license fees 489D-11 Issuance of license; grounds for denial 489D-12 Renewal of license and annual report 489D-12.5 Penalties and other charges 489D-13 Licensee liability 489D-14 Extraordinary reporting requirements 489D-14.5 Name change 489D-15 Changes in control of a licensee 489D-16 Money laundering reports 489D-17 Examinations 489D-18 Maintenance of records 489D-19 Confidentiality of records 489D-20 Money transmitter receipts and refunds 489D-21 Authorized delegate contracts 489D-22 Authorized delegate; conduct 489D-22.5 Voluntary surrender of license 489D-23 Prohibited practices 489D-24 Suspension or revocation of licenses 489D-25 Suspension or revocation of authorized delegates 489D-26 Orders to cease and desist 489D-27 Consent orders 489D-28 Civil penalties 489D-29 Criminal penalties 489D-30 Unlicensed persons 489D-31 Administrative procedures 489D-32 Hearings 489D-33 Division functions 489D-34 Rules

     [§489D-23]  Prohibited practices.  It is a violation of this chapter for a licensee to:

     (1)  Directly or indirectly employ any scheme, device, or artifice to defraud or mislead any person, including, but not limited to, bait and switch advertising or sales practices;

     (2)  Directly or indirectly engage in any unfair or deceptive act or practice toward any person, including but not limited to any false or deceptive statement about fees or other terms of a money transmission or currency exchange;

     (3)  Directly or indirectly obtain property by fraud or misrepresentation;

     (4)  Knowingly make, publish, or disseminate any false, deceptive, or misleading information in the provision of money services;

     (5)  Knowingly receive or take possession for personal use any property of any money services business, other than in payment for services rendered, and with intent to defraud, and omit to make, or cause or direct to omit to make, a full and true entry in the books and accounts of the regulated business;

     (6)  Concur in making any false entry, or omit or concur in omitting any material entry in the books or accounts of the business;

     (7)  Knowingly make or publish to the commissioner or commissioner's designee, or concur in making or publishing to the commissioner or commissioner's designee, any written report, exhibit, or statement of the licensee's affairs or pecuniary condition containing any material statement that is false, or omit or concur in omitting any statement required by law to be contained therein; or

     (8)  Fail to make any report or statement lawfully required by the commissioner. [L 2006, c 153, pt of §1]