Within 10 days after receiving a written request for a refund, a money transmission licensee shall refund to a customer money equal to the money or equivalent value received from the customer for a money transmission, unless
(1) before receiving the written request
(A) the money has been transmitted to the person designated by the customer to receive the money transmission and the person has taken possession of the money; in this section, "transmitted" means made available to the person designated by the customer to receive the money, whether or not the person designated by the customer has taken possession of the money; or
(B) instructions have been given making a monetary equivalent available to the person designated by the customer to receive the money transmission;
(2) the money transmission licensee has reason to believe that a crime has occurred, is occurring, or may occur as a result of transmitting or refunding the money as requested by the customer; or
(3) the money transmission licensee is otherwise prohibited by law from making a refund.
Section: Previous 06.55.801 06.55.802 06.55.810 06.55.820 06.55.830 06.55.840 06.55.850 06.55.890 NextLast modified: November 15, 2016