Section 3 AAC 13.050 - Renewal of approval or money transmission license(a) The department may deny renewal of a money transmission license, including an approval under AS 06.55.103, on the same grounds for which the license may be revoked or suspended under AS 06.55.601 or this chapter, including the failure to provide proof of adequate security.(b) If the money transmission licensee fails to make a timely request for renewal of the license, the department will send a notice of suspension to the licensee at the address most recently provided to the department by the licensee.(c) The department will extend the date for renewing a money transmission license if the licensee makes a written request for an extension not later than 30 days before the anniversary date of the issuance of the money transmission license and the department finds that the licensee has shown the requested extension of time is reasonably necessary in order to submit the documentation required in AS 06.55.106.(d) A request to renew a money transmission license must be made to the department through the registry.Eff. 7/12/2008, Register 187; am 11/22/2017,Register 224, January 2018Authority:AS 06.55.103
AS 06.55.106
AS 06.55.990
AS 44.33.020