A. A licensee shall file a report with the Commission within one business day after the licensee has reason to know of the occurrence of any of the following events: 1. The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. § 101 et seq.) for bankruptcy or reorganization; 2. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; 3. The commencement of a proceeding to revoke or suspend its license or other authority to operate in another jurisdiction; or 4. Such other events as the Commission may prescribe by regulation. B. A licensee shall file a report with the Commission within three business days after the licensee has reason to know of the occurrence of any of the following events: 1. An indictment, charge, or conviction of the licensee or of a key individual or person in control of the licensee for a felony; 2. An indictment, charge, or conviction of an authorized delegate for a felony; or 3. Such other events as the Commission may prescribe by regulation. 2025, c. 214.
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