Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-3 - MONEY TRANSMISSION
Subject 80-3-2 - FINANCIAL CONDITION, REPORTING, AND CONTROL
Rule 80-3-2-.05 - Notice of Change in Executive Officer
The notice of change in executive officer required by O.C.G.A. § 7-1-687(e) shall be timely furnished to the Department through the Nationwide Multistate Licensing System and Registry ("NMLSR"). Supporting documentation for the notice demonstrating whether the executive officer meets the requirements of O.C.G.A. §§ 7-1-684 and 7-1-687 shall be submitted via NMLSR within thirty (30) days of the effective date of the change in executive officer. Such documentation shall include, but is not limited to, a background check, credit history, responses to disclosure questions, and additional information that may be requested by the Department. If the notice is not disapproved by the Department within ninety (90) days after the date on which the supporting documentation was determined to be complete, the notice is deemed approved.
O.C.G.A. §§ 7-1-61, 7-1-690.