Regulatory Alerts2020-04-01
Added · Updated
Final: 2301 Operating Regulation
The State Bank Commissioner adopts amended Regulation 2301, effective April 13, 2020, requiring licensees to comply with applicable laws, maintain records accessible within a reasonable time, and reject expired identification. The regulation prohibits false or misleading advertising and mandates written responses to examination violations within 30 days. It establishes examination fee payment deadlines of 30 days, an annual supervisory assessment due August 1, and a daily penalty of 0.05 percent for late payments. Licensees must submit applications and fees through the Nationwide Multistate Licensing System and Registry, including specific investigation and processing fees, with incomplete applications considered withdrawn if not addressed within 30 days.
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