ENROLLED
Senate Bill No. 369
(By Senators Helmick, Minard, Dittmar and Ross)
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[Passed February 22, 1999; in effect ninety days from passage.]
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AN ACT to amend and reenact sections three, twenty-four and
twenty-five, article two, chapter thirty-two-a of the code
of West Virginia, one thousand nine hundred thirty-one, as
amended, all relating to the licensing of currency
transporters; adding exemptions to licensing requirements;
clarifying confidentiality provisions; and allowing the
commissioner to appoint a hearing examiner in contested
cases suspending or revoking a license.
Be it enacted by the Legislature of West Virginia:
That sections three, twenty-four and twenty-five, article
two, chapter thirty-two-a of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, be amended and
reenacted, all to read as follows:
ARTICLE 2. CHECKS AND MONEY ORDER SALES, MONEY TRANSMISSION SERVICES, TRANSPORTATION AND CURRENCY EXCHANGE.
§32A-2-3. Exemptions.
(a) The following are exempt from the provisions of this
article:
(1) Banks, trust companies, foreign bank agencies, credit
unions, savings banks and savings and loan associations
authorized to do business in the state or which qualify as
federally insured depository institutions, whether organized
under the laws of this state, any other state or the United
States;
(2) The United States and any department or agency thereof of the
United States;
(3) The United States post office;
(4) This state and any political subdivision thereof of this state;
(5) The provision of electronic transfer of government
benefits for any federal, state or county governmental agency as
defined in Federal Reserve Board Regulation E, by a contractor
for and on behalf of the United States or any department, agency
or instrumentality of the United States or any state or any political subdivisions of a state; and
(6) Persons engaged solely in the business of currency
transportation who operate an armored car service in this state
pursuant to licensure under article eighteen, chapter thirty of
this code: Provided, That the net worth of the licensee exceeds
five million dollars. The term "armored car service" as used in
this article means a service provided by a person transporting or
offering to transport, under armed security guard, currency or
other things of value in a motor vehicle specially equipped to
offer a high degree of security. Persons seeking to claim this
exemption shall notify the commissioner of their intent to do so
and demonstrate that they qualify for its use. Persons seeking
an exemption under this subdivision are not exempt from the
provisions of this article if they also engage in currency
exchange or currency transmission;
(7) Persons engaged in the business of currency
transportation whose activities are limited exclusively to
providing services to federally insured depository institutions,
or to any federal, state or local governmental entities; and
(8) Persons engaged solely in the business of removing currency from vending machines providing goods or services, if
the machines are not used for gambling purposes or to convey any
gambling ticket, token or other device used in a game of chance.
(b) Any person who holds and maintains a valid license under
this article may engage in the business of money transmission or
currency exchange at one or more locations in this state through
or by means of an authorized delegate or delegates as set forth
in section twenty-seven of this article, as said the licensee may
designate and appoint from time to time, and no such authorized
delegate shall be is required to obtain a separate license under this
article.
(c) The issuance and sale of stored value cards which are
intended to purchase items only from the issuer or seller of the
stored value card is exempt from the provisions of this article.
(d) Any person who is required and properly obtains a
license under this article to transport currency is exempt from
the requirements of article eighteen, chapter thirty of this
code.
§32A-2-24. Confidential information.
(a) Reports of investigation and examination, together with related documents and financial information not normally
available to the public that is submitted in confidence by a
person regulated under this article, including, but not limited
to, that person's evaluation of the expected outcome of pending
litigation, are confidential and may not be disclosed to the
public by the commissioner or employees of the division of
banking, and are not subject to the state's freedom of
information act. The commissioner may release information if:
(1) The commissioner finds that immediate and irreparable
harm is threatened to the licensee's customers or potential
customers or the general public;
(2) The licensee consents before the release;
(3) The commissioner finds that release of the information
is required in connection with a hearing under this article, in
which event information may be related to the parties of that
hearing; or
(4) The commissioner finds that the release is reasonably
necessary for the protection of the public and in the interest of
justice, in which event information may be distributed to
representatives of an agency, department or instrumentality of this state, any other state or the federal government.
(b) Nothing herein in this section prevents release to the public
of any list of licensees or aggregated financial data for the
licensees, prevents disclosure of information the presiding
officer deems considers relevant to the proper adjudication or
administration of justice at public administrative or judicial
hearings, or prevents disclosure of information relevant to
supporting the issuance of any administrative or judicial order.
§32A-2-25. Hearing on suspension or revocation of license.
(a) A license may not be revoked or suspended except after
notice and opportunity for hearing on that action. The
commissioner may issue to a person licensed under this article an
order to show cause why the license should not be revoked, or
should not be suspended for a period not in excess of six months.
The order shall state the place for a hearing and set a time for
the hearing that is no less than ten days from the date of the
order. The hearing shall be conducted in accordance with the
provisions of article five, chapter twenty-nine-a of this code.
The commissioner may appoint a hearing examiner to preside at the
hearing and make a recommended decision. After the hearing the commissioner shall revoke or suspend the license if he or she
finds that:
(1) The licensee has knowingly or repeatedly violated this
chapter or any rule or order lawfully made or issued pursuant to
this article;
(2) The licensee has failed to remit its required renewal
fees;
(3) Facts or conditions exist which would clearly have
justified the commissioner in refusing to grant a license had
these facts or conditions been known to exist at the time the
application for the license was made;
(4) The licensee does not have available the net worth
required by the provisions of section eight of this article, and
after ten days' written notice from the commissioner, fails to
take steps that the commissioner determines are necessary to
remedy the deficiency; or
(5) The licensee has failed or refused to keep the bond or
other security required by section ten of this article in full
force and effect.
(b) No revocation or suspension of a license under this article is lawful unless prior to institution of proceedings by
the commissioner notice is given to the licensee of the facts or
conduct which warrant the intended action and the licensee is
given an opportunity to show compliance with all lawful
requirements for retention of the license.
(c) If the commissioner finds that probable cause for
revocation of a license exists and that enforcement of this
article to prevent imminent harm to public welfare requires
immediate suspension of the license pending investigation, the
commissioner may, after a hearing upon five days' written notice,
enter an order suspending the license for not more than thirty
days.
(d) Nothing in this section limits the authority of the
commissioner to take action against a licensee or person under
other sections of this article.
(e) Whenever the commissioner revokes or suspends a license,
an order to that effect shall be entered and the commissioner
shall forthwith notify the licensee of the revocation or
suspension. Within five days after the entry of the order the
commissioner shall mail by registered or certified mail, or shall provide for personal delivery to the licensee, of a copy of the
order and the findings supporting the order.
(f) Any person holding a license under this article may
relinquish the license by notifying the commissioner in writing
of its relinquishment, but any relinquishment does not affect a
person's liability for acts previously committed.
(g) No revocation, suspension or relinquishment of a license
shall impair or affect impairs or affects the obligation of any preexisting lawful
contract between the licensee and any person.
(h) The commissioner may reinstate a license, terminate a
suspension or grant a new license to a person whose license has
been revoked or suspended if no fact or condition then exists
which clearly would have justified the commissioner in refusing
to grant a license.