(1) The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner;
(2) The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities;
(3) Any felony indictment of the licensee or any of its key officers or directors;
(4) Any felony conviction of the licensee or any of its key officers or directors; or
(5) The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]