Licensees desiring to conduct a money transmission business through authorized delegates shall authorize each delegate to operate pursuant to an express written contract. The contract shall specify the following:
(1) That the licensee appoints the person as the licensee’s delegate with authority to engage in money transmission on behalf of the licensee;
(2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the Director of the Department of Consumer and Business Services; and
(3) That licensees, authorized delegates and subdelegates are subject to supervision and regulation by the director. [1999 c.571 §16]
Section: Previous 717.235 717.240 717.245 717.250 717.255 717.260 717.265 717.270 717.275 717.280 717.285 717.290 717.295 717.300 717.305 NextLast modified: August 7, 2008