Section 51A-17-87 - Report of bankruptcy, administrative proceeding, or revocation or suspension of license(1) A licensee must file a report with the director within one business day after the licensee has reason to know of the occurrence of any of the following events: (a) The filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. § 101-110 (January 1, 2024) for bankruptcy or reorganization;(b) 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; or(c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.(2) A licensee must file a report with the director within three business day after the licensee has reason to know of the occurrence of any of the following events:(a) A charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or(b) A charge or conviction of an authorized delegate for a felony.Added by S.L. 2024, ch. 196,s. 36, eff. 7/1/2024.