(1) Money received for transmission that is subject to the federal Remittance Rule (12 C.F.R. part 1005, Subpart B).

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(3) Money received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.

     (b) As used in this section, “receipt”, with respect to a transaction, means:

(1) a paper receipt;

(2) an electronic record; or

(3) another written confirmation.

     (c) A licensee or the licensee’s authorized delegate shall provide a sender a receipt for money received for transmission. For a transaction conducted in person, a receipt may be provided electronically if the sender requests or agrees to receive an electronic receipt. For a transaction conducted electronically or by telephone, a receipt may be provided electronically. All electronic receipts shall be provided in a retainable form.

     (d) The receipt required by this section must contain the following information, as applicable:

(1) The name of the sender.

(2) The name of the designated recipient.

(3) The date of the transaction.

(4) The unique transaction or identification number.

(5) The name of the licensee, the licensee’s NMLS unique identification number, the licensee’s business address, and the licensee’s customer service telephone number.

(6) The amount of the transaction in United States dollars.

(7) Any fee charged by the licensee to the sender for the transaction.

(8) Any taxes collected by the licensee from the sender for the transaction.

     (e) The receipt required by this section must be in:

(1) English; and

(2) the language principally used by the licensee or authorized delegate to advertise, solicit, or negotiate, either orally or in writing, for a transaction conducted in person, electronically, or by phone, if other than English.

As added by P.L.198-2023, SEC.4.