{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1956.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1956.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1956.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1956.html"}],"law_id":54366,"edition_id":1,"section_id":54366,"structure_id":13396,"section_number":"6.2-1956","catch_line":"(Effective July 1, 2026) Cease and desist orders","history":"2025, c. 214.","full_text":"A\n\nIf the Commission determines that (i) any person has violated any provision of this chapter or any regulation adopted hereunder or (ii) a licensee is engaging in one or more unsafe or unsound practices, the Commission may, upon 21 days’ notice in writing, order such person to cease and desist from such practices and to comply with the provisions of this chapter. The notice shall be sent by certified mail to the principal place of business of such person or other address authorized under § 12.1-19.1 and shall state the grounds for the contemplated action. Within 14 days of mailing the notice, the person or persons named therein may file with the clerk of the Commission a written request for a hearing. The Commission may enforce compliance with any such order issued under this section by imposition and collection of such fines and penalties as may be prescribed by law.B\n\nThe Commission may, pursuant to the procedures set forth in subsection A, order a licensee to cease and desist from allowing an authorized delegate to engage in money transmission on the licensee’s behalf upon any of the following grounds:1\n\nThe authorized delegate violated this chapter or a regulation adopted or an order issued under this chapter or violated any other law or regulation applicable to the conduct of the licensee’s business;2\n\nThe authorized delegate did not cooperate with an examination or investigation by the Commission;3\n\nThe authorized delegate engaged in fraud, misrepresentation, deceit, or gross negligence;4\n\nThe authorized delegate has been convicted of a violation of a state or federal money laundering statute;5\n\nThe competence, experience, character, or general fitness of the authorized delegate indicates that it is not in the public interest to permit the authorized delegate to engage in money transmission; or6\n\nThe authorized delegate is engaging in an unsafe or unsound practice. In determining whether the authorized delegate is engaging in an unsafe or unsound practice, the Commission may consider the volume and condition of the licensee’s money transmission business, the magnitude of any loss, the gravity of any violation of this chapter, the previous conduct of the person involved, and any other factors that the Commission deems relevant.C\n\nWhen, in the opinion of the Commission, immediate action is required to protect the public interest, a cease and desist order may be issued immediately without a prior hearing. In such cases, the Commission shall make a hearing available to the person on an expedited basis.D\n\nIf required to conserve the assets of a licensee or protect the public interest, the Commission may order a licensee and its authorized delegates to cease and desist from selling or issuing payment instruments or stored value or receiving additional money for transmission.E\n\nThe Commission shall have jurisdiction to enter and enforce a cease and desist order against any person, regardless of whether such person is present in the Commonwealth, who directly or indirectly (i) sells or issues payment instruments or stored value to any person located in the Commonwealth or (ii) receives money from such persons.","order_by":null,"text":{"0":{"id":199614,"text":"If the Commission determines that (i) any person has violated any provision of this chapter or any regulation adopted hereunder or (ii) a licensee is engaging in one or more unsafe or unsound practices, the Commission may, upon 21 days’ notice in writing, order such person to cease and desist from such practices and to comply with the provisions of this chapter. The notice shall be sent by certified mail to the principal place of business of such person or other address authorized under § 12.1-19.1 and shall state the grounds for the contemplated action. Within 14 days of mailing the notice, the person or persons named therein may file with the clerk of the Commission a written request for a hearing. The Commission may enforce compliance with any such order issued under this section by imposition and collection of such fines and penalties as may be prescribed by law.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":199615,"text":"The Commission may, pursuant to the procedures set forth in subsection A, order a licensee to cease and desist from allowing an authorized delegate to engage in money transmission on the licensee’s behalf upon any of the following grounds:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":199616,"text":"The authorized delegate violated this chapter or a regulation adopted or an order issued under this chapter or violated any other law or regulation applicable to the conduct of the licensee’s business;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":199617,"text":"The authorized delegate did not cooperate with an examination or investigation by the Commission;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":199618,"text":"The authorized delegate engaged in fraud, misrepresentation, deceit, or gross negligence;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":199619,"text":"The authorized delegate has been convicted of a violation of a state or federal money laundering statute;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":199620,"text":"The competence, experience, character, or general fitness of the authorized delegate indicates that it is not in the public interest to permit the authorized delegate to engage in money transmission; or","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"7":{"id":199621,"text":"The authorized delegate is engaging in an unsafe or unsound practice. In determining whether the authorized delegate is engaging in an unsafe or unsound practice, the Commission may consider the volume and condition of the licensee’s money transmission business, the magnitude of any loss, the gravity of any violation of this chapter, the previous conduct of the person involved, and any other factors that the Commission deems relevant.","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"C"},"8":{"id":199622,"text":"When, in the opinion of the Commission, immediate action is required to protect the public interest, a cease and desist order may be issued immediately without a prior hearing. In such cases, the Commission shall make a hearing available to the person on an expedited basis.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B6","next_prefix":"D"},"9":{"id":199623,"text":"If required to conserve the assets of a licensee or protect the public interest, the Commission may order a licensee and its authorized delegates to cease and desist from selling or issuing payment instruments or stored value or receiving additional money for transmission.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"10":{"id":199624,"text":"The Commission shall have jurisdiction to enter and enforce a cease and desist order against any person, regardless of whether such person is present in the Commonwealth, who directly or indirectly (i) sells or issues payment instruments or stored value to any person located in the Commonwealth or (ii) receives money from such persons.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":13396,"edition_id":1,"name":"Money Transmitters","identifier":"19.1","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:48","date_modified":"2026-06-26 03:44:48","permalink":{"id":266479,"object_type":"structure","relational_id":13396,"identifier":"19.1","token":"6.2\/III\/19.1","url":"\/6.2\/III\/19.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":78099,"structure_id":13396,"section_number":"6.2-1922","catch_line":"(Effective July 1, 2026) Definitions","url":"\/6.2-1922\/","token":"6.2\/III\/19.1\/6.2-1922","metadata":false},{"id":82828,"structure_id":13396,"section_number":"6.2-1923","catch_line":"(Effective July 1, 2026) Exemptions","url":"\/6.2-1923\/","token":"6.2\/III\/19.1\/6.2-1923","metadata":false},{"id":71413,"structure_id":13396,"section_number":"6.2-1924","catch_line":"(Effective July 1, 2026) Implementation","url":"\/6.2-1924\/","token":"6.2\/III\/19.1\/6.2-1924","metadata":false},{"id":79717,"structure_id":13396,"section_number":"6.2-1925","catch_line":"(Effective July 1, 2026) Regulations","url":"\/6.2-1925\/","token":"6.2\/III\/19.1\/6.2-1925","metadata":false},{"id":65871,"structure_id":13396,"section_number":"6.2-1926","catch_line":"(Effective July 1, 2026) Supervision","url":"\/6.2-1926\/","token":"6.2\/III\/19.1\/6.2-1926","metadata":false},{"id":62025,"structure_id":13396,"section_number":"6.2-1927","catch_line":"(Effective July 1, 2026) Networked supervision","url":"\/6.2-1927\/","token":"6.2\/III\/19.1\/6.2-1927","metadata":false},{"id":70844,"structure_id":13396,"section_number":"6.2-1928","catch_line":"(Effective July 1, 2026) Relationship to federal law","url":"\/6.2-1928\/","token":"6.2\/III\/19.1\/6.2-1928","metadata":false},{"id":55220,"structure_id":13396,"section_number":"6.2-1929","catch_line":"(Effective July 1, 2026) License required","url":"\/6.2-1929\/","token":"6.2\/III\/19.1\/6.2-1929","metadata":false},{"id":65393,"structure_id":13396,"section_number":"6.2-1930","catch_line":"(Effective July 1, 2026) Consistent state licensing","url":"\/6.2-1930\/","token":"6.2\/III\/19.1\/6.2-1930","metadata":false},{"id":81034,"structure_id":13396,"section_number":"6.2-1931","catch_line":"(Effective July 1, 2026) Application for license","url":"\/6.2-1931\/","token":"6.2\/III\/19.1\/6.2-1931","metadata":false},{"id":68858,"structure_id":13396,"section_number":"6.2-1932","catch_line":"(Effective July 1, 2026) Information required for certain individuals","url":"\/6.2-1932\/","token":"6.2\/III\/19.1\/6.2-1932","metadata":false},{"id":64243,"structure_id":13396,"section_number":"6.2-1933","catch_line":"(Effective July 1, 2026) Issuance of license","url":"\/6.2-1933\/","token":"6.2\/III\/19.1\/6.2-1933","metadata":false},{"id":73816,"structure_id":13396,"section_number":"6.2-1934","catch_line":"(Effective July 1, 2026) License renewal","url":"\/6.2-1934\/","token":"6.2\/III\/19.1\/6.2-1934","metadata":false},{"id":63168,"structure_id":13396,"section_number":"6.2-1935","catch_line":"(Effective July 1, 2026) Maintenance of license","url":"\/6.2-1935\/","token":"6.2\/III\/19.1\/6.2-1935","metadata":false},{"id":64284,"structure_id":13396,"section_number":"6.2-1936","catch_line":"(Effective July 1, 2026) Acquisition of control","url":"\/6.2-1936\/","token":"6.2\/III\/19.1\/6.2-1936","metadata":false},{"id":70569,"structure_id":13396,"section_number":"6.2-1937","catch_line":"(Effective July 1, 2026) Change of key individual; notice and required information","url":"\/6.2-1937\/","token":"6.2\/III\/19.1\/6.2-1937","metadata":false},{"id":64010,"structure_id":13396,"section_number":"6.2-1938","catch_line":"(Effective July 1, 2026) Report of condition","url":"\/6.2-1938\/","token":"6.2\/III\/19.1\/6.2-1938","metadata":false},{"id":83608,"structure_id":13396,"section_number":"6.2-1939","catch_line":"(Effective July 1, 2026) Audited financials","url":"\/6.2-1939\/","token":"6.2\/III\/19.1\/6.2-1939","metadata":false},{"id":74501,"structure_id":13396,"section_number":"6.2-1940","catch_line":"(Effective July 1, 2026) Authorized delegate reporting","url":"\/6.2-1940\/","token":"6.2\/III\/19.1\/6.2-1940","metadata":false},{"id":76742,"structure_id":13396,"section_number":"6.2-1941","catch_line":"(Effective July 1, 2026) Reports of certain events","url":"\/6.2-1941\/","token":"6.2\/III\/19.1\/6.2-1941","metadata":false},{"id":56737,"structure_id":13396,"section_number":"6.2-1942","catch_line":"(Effective July 1, 2026) Reports required by federal law","url":"\/6.2-1942\/","token":"6.2\/III\/19.1\/6.2-1942","metadata":false},{"id":60649,"structure_id":13396,"section_number":"6.2-1943","catch_line":"(Effective July 1, 2026) Records","url":"\/6.2-1943\/","token":"6.2\/III\/19.1\/6.2-1943","metadata":false},{"id":63079,"structure_id":13396,"section_number":"6.2-1944","catch_line":"(Effective July 1, 2026) Relationship between licensee and authorized delegate; prohibited activities","url":"\/6.2-1944\/","token":"6.2\/III\/19.1\/6.2-1944","metadata":false},{"id":62969,"structure_id":13396,"section_number":"6.2-1945","catch_line":"(Effective July 1, 2026) Timely transmission","url":"\/6.2-1945\/","token":"6.2\/III\/19.1\/6.2-1945","metadata":false},{"id":64138,"structure_id":13396,"section_number":"6.2-1946","catch_line":"(Effective July 1, 2026) Refunds","url":"\/6.2-1946\/","token":"6.2\/III\/19.1\/6.2-1946","metadata":false},{"id":57065,"structure_id":13396,"section_number":"6.2-1947","catch_line":"(Effective July 1, 2026) Receipts","url":"\/6.2-1947\/","token":"6.2\/III\/19.1\/6.2-1947","metadata":false},{"id":61020,"structure_id":13396,"section_number":"6.2-1948","catch_line":"(Effective July 1, 2026) Notice","url":"\/6.2-1948\/","token":"6.2\/III\/19.1\/6.2-1948","metadata":false},{"id":59235,"structure_id":13396,"section_number":"6.2-1949","catch_line":"(Effective July 1, 2026) Payroll processing services","url":"\/6.2-1949\/","token":"6.2\/III\/19.1\/6.2-1949","metadata":false},{"id":81196,"structure_id":13396,"section_number":"6.2-1950","catch_line":"(Effective July 1, 2026) Net worth","url":"\/6.2-1950\/","token":"6.2\/III\/19.1\/6.2-1950","metadata":false},{"id":61605,"structure_id":13396,"section_number":"6.2-1951","catch_line":"(Effective July 1, 2026) Surety bond","url":"\/6.2-1951\/","token":"6.2\/III\/19.1\/6.2-1951","metadata":false},{"id":86619,"structure_id":13396,"section_number":"6.2-1952","catch_line":"(Effective July 1, 2026) Maintenance of permissible investments","url":"\/6.2-1952\/","token":"6.2\/III\/19.1\/6.2-1952","metadata":false},{"id":56681,"structure_id":13396,"section_number":"6.2-1953","catch_line":"(Effective July 1, 2026) Permissible investments","url":"\/6.2-1953\/","token":"6.2\/III\/19.1\/6.2-1953","metadata":false},{"id":61652,"structure_id":13396,"section_number":"6.2-1954","catch_line":"(Effective July 1, 2026) Suspension or revocation of license","url":"\/6.2-1954\/","token":"6.2\/III\/19.1\/6.2-1954","metadata":false},{"id":84954,"structure_id":13396,"section_number":"6.2-1955","catch_line":"(Effective July 1, 2026) Civil penalties","url":"\/6.2-1955\/","token":"6.2\/III\/19.1\/6.2-1955","metadata":false},{"id":54366,"structure_id":13396,"section_number":"6.2-1956","catch_line":"(Effective July 1, 2026) Cease and desist orders","url":"\/6.2-1956\/","token":"6.2\/III\/19.1\/6.2-1956","metadata":false},{"id":68409,"structure_id":13396,"section_number":"6.2-1957","catch_line":"(Effective July 1, 2026) Criminal penalty","url":"\/6.2-1957\/","token":"6.2\/III\/19.1\/6.2-1957","metadata":false}],"previous_section":{"id":84954,"structure_id":13396,"section_number":"6.2-1955","catch_line":"(Effective July 1, 2026) Civil penalties","url":"\/6.2-1955\/","token":"6.2\/III\/19.1\/6.2-1955","metadata":false},"next_section":{"id":68409,"structure_id":13396,"section_number":"6.2-1957","catch_line":"(Effective July 1, 2026) Criminal penalty","url":"\/6.2-1957\/","token":"6.2\/III\/19.1\/6.2-1957","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1956\/","history_text":"

This law was first created in 2025. The record of its establishment is cataloged in chapter 214<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":71702,"section_number":"12.1-19.1","catch_line":"Service of process on the Clerk of the State Corporation Commission as statutory agent","order_by":null,"url":"\/12.1-19.1\/"}],"permalink":{"id":266617,"object_type":"law","relational_id":54366,"identifier":"6.2-1956","token":"6.2\/III\/19.1\/6.2-1956","url":"\/6.2-1956\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1956\/","token":"6.2\/III\/19.1\/6.2-1956","dublin_core":{"Title":"(Effective July 1, 2026) Cease and desist orders","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1956","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If the Commission<\/span> determines that (i) any person<\/span> has violated any provision of this chapter or any regulation adopted hereunder or (ii) a licensee<\/span> is engaging in one or more unsafe or unsound practices, the Commission<\/span> may, upon 21 days’ notice in writing, order<\/span> such person<\/span> to cease and desist from such practices and to comply with the provisions of this chapter. The notice shall be sent by certified mail to the principal place of business of such person<\/span> or other address authorized under § 12.1-19.1<\/a> and shall state the grounds for the contemplated action. Within 14 days of mailing the notice, the person<\/span> or persons<\/span> named therein may file with the clerk of the Commission<\/span> a written request for a hearing<\/span>. The Commission<\/span> may enforce compliance with any such order<\/span> issued under this section by imposition and collection of such fines and penalties as may be prescribed by law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> may, pursuant to the procedures set forth in subsection A, order<\/span> a licensee<\/span> to cease and desist from allowing an authorized delegate<\/span> to engage in money transmission<\/span> on the licensee<\/span>’s behalf upon any of the following grounds: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The authorized delegate<\/span> violated this chapter or a regulation adopted or an order<\/span> issued under this chapter or violated any other law<\/span> or regulation applicable to the conduct of the licensee<\/span>’s business; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The authorized delegate<\/span> did not cooperate with an examination or investigation by the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The authorized delegate<\/span> engaged in fraud<\/span>, misrepresentation, deceit, or gross negligence<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The authorized delegate<\/span> has been convicted of a violation of a state or federal money laundering statute<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The competence, experience, character, or general fitness of the authorized delegate<\/span> indicates that it is not in the public interest to permit the authorized delegate<\/span> to engage in money transmission<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The authorized delegate<\/span> is engaging in an unsafe or unsound practice. In determining whether the authorized delegate<\/span> is engaging in an unsafe or unsound practice, the Commission<\/span> may consider the volume and condition of the licensee<\/span>’s money transmission<\/span> business, the magnitude of any loss, the gravity of any violation of this chapter, the previous conduct of the person<\/span> involved, and any other factors that the Commission<\/span> deems relevant. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> When, in the opinion<\/span> of the Commission<\/span>, immediate action is required to protect the public interest, a cease and desist order<\/span> may be issued immediately without a prior hearing<\/span>. In such cases, the Commission<\/span> shall make a hearing<\/span> available to the person<\/span> on an expedited basis. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If required to conserve the assets<\/span> of a licensee<\/span> or protect the public interest, the Commission<\/span> may order<\/span> a licensee<\/span> and its authorized delegates<\/span> to cease and desist from selling or issuing payment instruments<\/span> or stored value<\/span> or receiving additional money for transmission. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Commission<\/span> shall have jurisdiction<\/span> to enter and enforce a cease and desist order<\/span> against any person<\/span>, regardless of whether such person<\/span> is present in the Commonwealth<\/span>, who directly or indirectly (i) sells or issues<\/span> payment instruments<\/span> or stored value<\/span> to any person<\/span> located in the Commonwealth<\/span> or (ii) receives money from such persons<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(EFFECTIVE JULY 1, 2026) CEASE AND DESIST ORDERS (\u00a7 6.2-1956)\n\nA. If the Commission determines that (i) any person has violated any provision\nof this chapter or any regulation adopted hereunder or (ii) a licensee is\nengaging in one or more unsafe or unsound practices, the Commission may, upon 21\ndays’ notice in writing, order such person to cease and desist from such\npractices and to comply with the provisions of this chapter. The notice shall be\nsent by certified mail to the principal place of business of such person or\nother address authorized under § 12.1-19.1 and shall state the grounds for\nthe contemplated action. Within 14 days of mailing the notice, the person or\npersons named therein may file with the clerk of the Commission a written\nrequest for a hearing. The Commission may enforce compliance with any such order\nissued under this section by imposition and collection of such fines and\npenalties as may be prescribed by law.\n\nB. The Commission may, pursuant to the procedures set forth in subsection A,\norder a licensee to cease and desist from allowing an authorized delegate to\nengage in money transmission on the licensee’s behalf upon any of the\nfollowing grounds:\n\n 1. The authorized delegate violated this chapter or a regulation adopted or an\n order issued under this chapter or violated any other law or regulation\n applicable to the conduct of the licensee’s business;\n\n 2. The authorized delegate did not cooperate with an examination or\n investigation by the Commission;\n\n 3. The authorized delegate engaged in fraud, misrepresentation, deceit, or\n gross negligence;\n\n 4. The authorized delegate has been convicted of a violation of a state or\n federal money laundering statute;\n\n 5. The competence, experience, character, or general fitness of the authorized\n delegate indicates that it is not in the public interest to permit the\n authorized delegate to engage in money transmission; or\n\n 6. The authorized delegate is engaging in an unsafe or unsound practice. In\n determining whether the authorized delegate is engaging in an unsafe or\n unsound practice, the Commission may consider the volume and condition of the\n licensee’s money transmission business, the magnitude of any loss, the\n gravity of any violation of this chapter, the previous conduct of the person\n involved, and any other factors that the Commission deems relevant.\n\nC. When, in the opinion of the Commission, immediate action is required to\nprotect the public interest, a cease and desist order may be issued immediately\nwithout a prior hearing. In such cases, the Commission shall make a hearing\navailable to the person on an expedited basis.\n\nD. If required to conserve the assets of a licensee or protect the public\ninterest, the Commission may order a licensee and its authorized delegates to\ncease and desist from selling or issuing payment instruments or stored value or\nreceiving additional money for transmission.\n\nE. The Commission shall have jurisdiction to enter and enforce a cease and\ndesist order against any person, regardless of whether such person is present in\nthe Commonwealth, who directly or indirectly (i) sells or issues payment\ninstruments or stored value to any person located in the Commonwealth or (ii)\nreceives money from such persons.\n\nHISTORY: 2025, c. 214.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}