(a) If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee’s license in accordance with the procedures established by this chapter or other applicable state law for such suspension or revocation.
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Terms Used In Tennessee Code 45-7-117

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-7-103
  • Licensee: means a person licensed under this chapter. See Tennessee Code 45-7-103
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) An applicant for a money transmission license must demonstrate that it meets or will meet the requirements in §§ 45-7-135, 45-7-136, and 45-7-137. A money transmission licensee must at all times meet the requirements in §§ 45-7-135, 45-7-136, and 45-7-137.
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