Arizona Laws 6-1224. Timely transmission
Current as of: 2024 | Check for updates
|
Other versions
A. Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of law has occurred, is occurring or may occur.
Terms Used In Arizona Laws 6-1224
- Fraud: Intentional deception resulting in injury to another.
- Licensee: means a person licensed under this article. See Arizona Laws 6-1201
- money received for transmission: means receiving money or monetary value in the United States for transmission within or outside the United States by electronic or other means. See Arizona Laws 6-1201
B. If a licensee fails to forward money received for transmission pursuant to this section, the licensee must respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law.