1. If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the director may suspend or revoke the licensee's license in accordance with the procedures established under sections 361.900 to 361.1035 or other applicable state law for such suspension or revocation.
2. An applicant for a money transmission license shall demonstrate that it meets or will meet, and a money transmission licensee shall at all times meet, the requirements in sections 361.999, 361.1002, and 361.1005.