A. If a state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between this article and the federal law relating to money transmission shall be governed by the applicable federal law to the extent of the inconsistency.

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Terms Used In Arizona Laws 6-1206

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

B. If there is an inconsistency between this article and a federal law that governs pursuant to subsection A of this section, the director may provide interpretive guidance that identifies both of the following:

1. The inconsistency.

2. The appropriate means of compliance with federal law.

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