Minnesota Statutes 53B.54 – Timely Transmission
Current as of: 2023 | Check for updates
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(a) Every licensee must 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, rule, or regulation has occurred, is occurring, or may occur.
Terms Used In Minnesota Statutes 53B.54
- Fraud: Intentional deception resulting in injury to another.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Violate: includes failure to comply with. See Minnesota Statutes 645.44
(b) If a licensee fails to forward money received for transmission as provided under 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, rule, or regulation.