(a) A 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, rule, or regulation has occurred, is occurring, or may occur.
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Terms Used In Tennessee Code 45-7-129

  • Fraud: Intentional deception resulting in injury to another.
  • Licensee: means a person licensed under this chapter. See Tennessee Code 45-7-103
  • 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 Tennessee Code 45-7-103
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) If a licensee fails to forward money received for transmission in accordance with 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.
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