Unsafe or unsound practice definition
Unsafe or unsound practice means a practice or conduct by a person licensed to engage in money transmission or an authorized delegate of such a person which creates the likelihood of material loss, insolvency, or dissipation of the licensee’s assets, or otherwise materially prejudices the interests of its customers.
Unsafe or unsound practice means a practice or conduct by a
Unsafe or unsound practice means any action, or lack of
More Definitions of Unsafe or unsound practice
Unsafe or unsound practice means a practice or conduct by a person licensed to do business in this State that creates the likelihood of material loss, insolvency, or dissipation of the licensee’s assets, or otherwise materially prejudices the interests of its customers.
Unsafe or unsound practice means a practice or con- duct by a person licensed or required to be licensed by the act to provide money services, or an authorized delegate of such a person, which creates the likelihood of material loss, insol- vency, or dissipation of the licensee's assets, or otherwise materially prejudices the financial condition of the licensee or the interests of its customers.
Unsafe or unsound practice means any practice or conduct found by the office to be contrary to generally accepted standards applicable to a financial institution, or a violation of any prior agreement in writing or order of a state or federal regulatory agency, which practice, conduct, or violation creates the likelihood of loss, insolvency, or dissipation of assets or otherwise prejudices the interest of the financial institution or its depositors or members. In making this determination, the office must consider the size and condition of the financial institution, the gravity of the violation, and the prior conduct of the person or institution involved.
Unsafe or unsound practice means any action, or lack of action, which is contrary to generally accepted standards of prudent operation, the likely consequences of which, if continued, would be abnormal risk of loss or danger to a credit union, its members, or an organization insuring or guaranteeing its shares and deposits. [2022 c 15 § 1; 2017 c 61 § 1. Prior: 2015 c 114 § 1; 2013 c 34 § 1; 2010 c 87 § 1; 2001 c 83 § 1; 1997 c 397 § 2; prior: 1994 c 256 § 68; 1994 c 92 § 175; 1984 c 31 § 2.]
Unsafe or unsound practice means any action, or
Unsafe or unsound practice means any action or lack of action that is contrary to generally accepted standards of prudent operation and conduct including those standards outlined in Schedule 7; and
Unsafe or unsound practice means any action, or lack of action, which is contrary to generally accepted standards of prudent operation, the likely consequences of which, if continued, would be abnormal risk of loss or danger to a credit union, its members, or an organization insuring or guaranteeing its shares and deposits.