reglab/housing_qa huggingface dataset:
AK Stat § 06.55.106 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 1. Money Transmission Licenses.|Sec. 06.55.106. Renewal of license.

(a) A money transmission licensee shall pay an annual renewal fee not later than 30 days before the anniversary of the issuance of the money transmission license or, if the last day is not a business day, on the next business day. (b) A money transmission licensee shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the department. The renewal report must state or contain (1) a copy of the money transmission licensee's most recent audited annual financial statement or, if the money transmission licensee is a wholly owned subsidiary of another corporation, the most recent audited consolidated annual financial statement of the parent corporation or the money transmission licensee's most recent audited consolidated annual financial statement; (2) the number and monetary amount of payment instruments and stored value sold by the money transmission licensee in this state that have not been included in a renewal report, and the monetary amount of payment instruments and stored value currently outstanding; (3) a description of each material change in information submitted by the money transmission licensee in its original license application that has not been reported to the department on any required report; (4) a list of the money transmission licensee's permissible investments and a certification that the money transmission licensee continues to maintain permissible investments according to the requirements set out in AS 06.55.501 and 06.55.502; (5) proof that the money transmission licensee continues to maintain adequate security as required by AS 06.55.104; and (6) a list of the locations in this state where the money transmission licensee or an authorized delegate of the money transmission licensee engages in money transmission or provides other money services. (c) If a money transmission licensee does not file a renewal report or pay its renewal fee by the renewal date or any extension of time granted by the department, the department shall send the money transmission licensee a notice of suspension. Unless the money transmission licensee files the report and pays the renewal fee before expiration of 10 days after the notice is sent, the money transmission licensee's license is suspended 10 days after the department sends the notice of suspension. The suspension shall be lifted if, within 20 days after its money transmission license is suspended, the money transmission licensee (1) files the report and pays the renewal fee; and (2) pays a late fee for each day after suspension that the department did not receive the renewal report and the renewal fee. (d) The department for good cause may grant an extension of the renewal date.
AK Stat § 06.55.107 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 1. Money Transmission Licenses.|Sec. 06.55.107. Net worth.

A money transmission licensee shall maintain a net worth of at least $25,000 determined under generally accepted accounting principles.
AK Stat § 06.55.201 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 2. Currency Exchange Licenses.|Sec. 06.55.201. License required.

(a) A person may not engage in currency exchange or advertise, solicit, or hold the person out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person (1) holds a currency exchange license; (2) holds a money transmission license; or (3) is an authorized delegate of a person who holds a money transmission license. (b) A currency exchange license is not transferable or assignable.
AK Stat § 06.55.202 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 2. Currency Exchange Licenses.|Sec. 06.55.202. Application for license.

(a) A person applying for a currency exchange license under AS 06.55.201 - 06.55.204 shall apply in a form and in a medium prescribed by the department. The application must state or contain (1) the legal name and residential and business addresses of the applicant if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager, and director; (2) the location of the principal office of the applicant; (3) the complete addresses of other locations in this state where the applicant proposes to engage in currency exchange, including all mobile locations; (4) a description of the source of money and credit to be used by the applicant to engage in currency exchange; and (5) other information the department reasonably requires with respect to the applicant, but not more than the department may require under AS 06.55.101 - 06.55.107. (b) A nonrefundable application fee and a currency exchange license fee must accompany an application for a currency exchange license. The currency exchange license fee shall be refunded if the application is denied.
AK Stat § 06.55.203 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 2. Currency Exchange Licenses.|Sec. 06.55.203. Issuance of license.

(a) When an application for a currency exchange license is filed under AS 06.55.201 - 06.55.204, the department shall investigate the applicant's financial condition and responsibility, financial and business experience, character, and general fitness. The department may conduct an on-site investigation of the applicant, the reasonable cost of which the applicant shall pay. The department shall issue a currency exchange license to an applicant under AS 06.55.201 - 06.55.204 if the department finds that all of the following conditions have been fulfilled: (1) the applicant has complied with AS 06.55.202; and (2) the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant, and the competence, experience, character, and general fitness of the executive officers, managers, directors, and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in currency exchange. (b) When an application for an original currency exchange license under AS 06.55.201 - 06.55.204 is complete, the department shall promptly notify the applicant in a record of the date on which the application was determined to be complete, and (1) the department shall approve or deny the application within 120 days after that date; or (2) if the application is not approved or denied within 120 days after that date, (A) the application is approved; and (B) the department shall issue the currency exchange license under AS 06.55.201 - 06.55.204 to take effect as of the first business day after expiration of the period. (c) The department may for good cause extend the application period. (d) An applicant whose application is denied by the department under AS 06.55.201 - 06.55.204 may appeal, within 30 days after receipt of the notice of the denial, from the denial and request a hearing.
AK Stat § 06.55.204 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 2. Currency Exchange Licenses.|Sec. 06.55.204. Renewal of license.

(a) A currency exchange licensee shall pay a biennial renewal fee not later than 30 days before each biennial anniversary of the issuance of the currency exchange license or, if the last day is not a business day, on the next business day. (b) A currency exchange licensee under AS 06.55.201 - 06.55.204 shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the department. The renewal report must state or contain (1) a description of each material change in information submitted by the currency exchange licensee in its original currency exchange license application that has not been reported to the department on any required report; and (2) a list of the locations in this state where the currency exchange licensee or an authorized delegate of the currency exchange licensee engages in currency exchange, including mobile locations. (c) If a currency exchange licensee does not file a renewal report and pay its renewal fee by the renewal date or any extension of time granted by the department, the department shall send the currency exchange licensee a notice of suspension. Unless the currency exchange licensee files the report and pays the renewal fee before expiration of 10 days after the notice is sent, the currency exchange license is suspended 10 days after the department sends the notice of suspension. (d) The department for good cause may grant an extension of the renewal date.
AK Stat § 06.55.301 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 3. Authorized Delegates.|Sec. 06.55.301. Relationship between licensee and authorized delegate.

(a) A contract between a money services licensee and an authorized delegate must require the authorized delegate to operate in full compliance with this chapter. The money services licensee shall furnish in a record to each authorized delegate policies and procedures sufficient for compliance with this chapter. (b) An authorized delegate shall remit all money owing to the money services licensee under the terms of the contract between the money services licensee and the authorized delegate. In this subsection, “remit” means to make direct payments of money to a money services licensee or its representative authorized to receive money or to deposit money in a bank in an account specified by the money services licensee. (c) If a money services license is suspended or revoked or a money services licensee does not renew its money services license, the department shall notify all authorized delegates of the money services licensee whose names are in a record filed with the department of the suspension, revocation, or nonrenewal. After notice is sent or publication is made, an authorized delegate shall immediately cease to provide money services as an authorized delegate of the money services licensee. (d) An authorized delegate may not provide money services outside the scope of activity permissible under the contract between the authorized delegate and the money services licensee, except activity in which the authorized delegate is authorized to engage under AS 06.55.101 - 06.55.204. An authorized delegate of a money services licensee holds in trust for the benefit of the money services licensee all money net of fees received from money transmission. (e) An authorized delegate may not use a subdelegate to conduct money services on behalf of a money services licensee.
AK Stat § 06.55.302 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 3. Authorized Delegates.|Sec. 06.55.302. Unauthorized activities.

A person may not act as an authorized delegate for, or otherwise provide money services on behalf of, a person who does not hold a money services license under this chapter.
AK Stat § 06.55.401 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.401. Authority to conduct examinations.

(a) The department may conduct an annual examination of a money services licensee or of any of its authorized delegates upon 45 days' notice in a record to the money services licensee. (b) The department may examine a money services licensee or its authorized delegate, at any time, without notice, if the department has reason to believe that the money services licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or a regulation adopted or an order issued under this chapter. (c) If the department concludes that an on-site examination is necessary under (a) of this section, the money services licensee shall pay the reasonable cost of the examination. (d) Information obtained during an examination under this chapter may be disclosed only as provided in AS 06.55.407.
AK Stat § 06.55.402 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.402. Cooperation.

The department may consult and cooperate with other state money services regulators in enforcing and administering this chapter. The department and other state money service regulators may jointly pursue examinations and take other official action that they are otherwise empowered to take.
AK Stat § 06.55.403 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.403. Reports.

(a) A money services licensee shall file with the department within 15 business days any material changes in information provided in a money services licensee's application as prescribed by the department. (b) A money services licensee shall file with the department within 45 days after the end of each fiscal quarter a current list of all authorized delegates and locations in this state where the money services licensee or an authorized delegate of the money services licensee provides money services, including mobile locations. The money services licensee shall state the name and street address of each location and authorized delegate. (c) A money services licensee shall file a report with the department within one business day after the money services licensee has reason to know of the occurrence of any of the following events: (1) the filing of a petition by or against the money services licensee under 11 U.S.C. 101 - 110 (Bankruptcy Code) for bankruptcy or reorganization; (2) the filing of a petition by or against the money services licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; (3) the commencement of a proceeding to revoke or suspend its money services license in a state or country in which the money services licensee engages in business or is licensed; (4) the cancellation or other impairment of the money services licensee's bond or other security; (5) a charge against or conviction of the money services licensee or of an executive officer, manager, director, or person in control of the money services licensee for a felony; or (6) a charge against or conviction of an authorized delegate for a felony.
AK Stat § 06.55.404 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.404. Change of control.

(a) A money services licensee shall (1) give the department notice in a record of a proposed change of control within 15 days after learning of the proposed change of control; (2) request approval of the acquisition; and (3) submit a nonrefundable fee with the notice. (b) After review of a request for approval under (a) of this section, the department may require the money services licensee to provide additional information concerning the proposed persons in control of the money services licensee. The additional information must be limited to the same types required of the money services licensee or persons in control of the money services licensee as part of its original money services license or renewal application. (c) The department shall approve a request for change of control under (a) of this section if, after investigation, the department determines that the person or group of persons requesting approval has the competence, experience, character, and general fitness to operate the money services licensee or person in control of the money services licensee in a lawful and proper manner and that the public interest will not be jeopardized by the change of control. (d) When an application for a change of control under AS 06.55.401 - 06.55.407 is complete, the department shall notify the money services licensee in a record of the date on which the request was determined to be complete, and (1) the department shall approve or deny the request within 120 days after that date; or (2) if the request is not approved or denied within 120 days after that date, (A) the request is approved; and (B) the department shall permit the change of control under this section, to take effect as of the first business day after expiration of the period. (e) The department, by regulation or order, may exempt a person from any of the requirements of (a)(2) and (3) of this section if it is in the public interest to exempt the person. (f) The provisions of (a) of this section do not apply to a public offering of securities. (g) Before filing a request for approval to acquire control of a money services licensee or person in control of a money services licensee, a person may request in a record a determination from the department as to whether the person would be considered a person in control of a money services licensee upon consummation of a proposed transaction. If the department determines that the person would not be a person in control of a money services licensee, the department shall enter an order to that effect, and the proposed person and transaction are not subject to the requirements of (a) - (c) of this section.
AK Stat § 06.55.405 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.405. Records.

(a) A money services licensee shall maintain the following records for determining its compliance with this chapter for at least three years: (1) a record of each payment instrument or stored-value obligation sold; (2) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; (3) bank statements and bank reconciliation records; (4) records of outstanding payment instruments and stored-value obligations; (5) records of each payment instrument and stored-value obligation paid within the three-year period; (6) a list of the last known names and addresses of all of the money services licensee's authorized delegates; and (7) any other records the department reasonably requires by regulation. (b) The items specified in (a) of this section may be maintained in any form of record. (c) Records may be maintained outside this state if they are made accessible to the department on seven business days' notice that is sent in a record. (d) All records maintained by the money services licensee as required in (a) - (c) of this section are open to inspection by the department under AS 06.55.401.
AK Stat § 06.55.406 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.406. Money laundering reports.

(a) A money services licensee and an authorized delegate shall file with the attorney general all reports required by federal currency reporting, record keeping, and suspicious transaction reporting requirements as set out in 31 U.S.C. 5311 and other federal and state laws pertaining to money laundering. (b) The timely filing of a complete and accurate report required under (a) of this section with the appropriate federal agency is compliance with the requirements of (a) of this section, unless the department notifies the money services licensee that the attorney general has notified the department that reports of this type are not being regularly and comprehensively transmitted by the federal agency to the attorney general.
AK Stat § 06.55.407 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 4. Examinations, Reports, Records.|Sec. 06.55.407. Confidentiality.

(a) Except as otherwise provided in (b) of this section, all information or reports obtained by the department from an applicant, a licensee, or an authorized delegate are confidential and not subject to disclosure under AS 40.25.100 - 40.25.295, including (1) all information contained in or related to examination, investigation, operating, or condition reports prepared by, on behalf of, or for the use of the department; and (2) financial statements, balance sheets, and authorized delegate information. (b) The department may disclose information that is not otherwise subject to disclosure under (a) of this section to representatives of state or federal agencies who promise in a record that they will maintain the confidentiality of the information or if the department finds that the release is reasonably necessary for the protection of the public and in the interests of justice, and the money services licensee has been given previous notice by the department of its intent to release the information. (c) This section does not prohibit the department from disclosing to the public a list of money services licensees or the aggregated financial data concerning those money services licensees. (d) A money services licensee or an authorized delegate may not disclose to another person financial information provided to the money services licensee or the authorized delegate by a customer except when, and only to the extent that, the disclosure is (1) authorized in writing by the customer; (2) required by federal, state, or local law; (3) required by an order issued by a court or an administrative agency; or (4) part of the money services transaction ordered by the customer. (e) In (d) of this section, “financial information” means an individual's social security number, individual taxpayer identification number, account number, credit card account number, debit card account number, personal identification number, payment instrument number, or access code.
AK Stat § 06.55.501 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 55. Alaska Uniform Money Services Act|Article 5. Permissible Investments.|Sec. 06.55.501. Maintenance of permissible investments.

(a) A money services licensee shall maintain at all times permissible investments that have a market value computed under generally accepted accounting principles of not less than the aggregate amount of all of its outstanding payment instruments and stored value obligations issued or sold in all states and money transmitted from all states by the money services licensee. (b) The department, with respect to any money services licensees, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The department by regulation may prescribe or by order allow other types of investments that the department determines to have a safety substantially equivalent to other permissible investments. (c) Permissible investments, even if commingled with other assets of the money services licensee, are held in trust for the benefit of the purchasers and holders of the money services licensee's outstanding payment instruments and stored value obligations in the event of bankruptcy or receivership of the money services licensee.