Revised Code of Washington - RCW Title 19 Business Regulations -- Miscellaneous - Chapter 19.230 Uniform Money Services Act

19.230.005 Intent
It is the intent of the legislature to establish a state system of licensure and regulation to ensure the safe and sound operation of money ...
19.230.010 Definitions
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Affiliate" means any person who directly or indirectly through ...
19.230.020 Application of chapter -- Exclusions
This chapter does not apply to: (1) The United States or a department, agency, or instrumentality thereof; (2) Money transmission by the United States postal ...
19.230.030 Money transmitter license required
(1) A person may not engage in the business of money transmission, or advertise, solicit, or hold itself out as providing money transmission, unless the ...
19.230.040 Application for a money transmitter license
(1) A person applying for a money transmitter license under this chapter shall do so in a form and in a medium prescribed in rule ...
19.230.050 Surety bond/security
(1) Each money transmitter licensee shall maintain a surety bond, or other similar security acceptable to the director, in the amount of at least ten ...
19.230.060 Net worth for money transmitter
A money transmitter licensed under this chapter shall maintain a net worth, determined in accordance with generally accepted accounting principles, as determined in rule by ...
19.230.070 Issuance of money transmitter license
(1) When an application for a money transmitter license is filed under this chapter, the director or the director's designee shall investigate the applicant's financial ...
19.230.080 Currency exchange license required
(1) A person may not engage in the business of currency exchange or advertise, solicit, or hold itself out as able to engage in currency ...
19.230.090 Application for a currency exchange license
(1) A person applying for a currency exchange license under this chapter shall do so in a form and in a medium prescribed in rule ...
19.230.100 Issuance of a currency exchange license -- Surrender of license
(1) When an application for a currency exchange license is filed under this chapter, the director or the director's designee shall investigate the applicant's financial ...
19.230.110 Annual license assessment and annual report
(1) A licensee shall pay an annual license assessment as established in rule by the director no later than the annual license assessment due date ...
19.230.120 Relationship between licensee and authorized delegate
(1) In this section, "remit" means to make direct payments of money to a licensee or its representative authorized to receive money or to deposit ...
19.230.130 Authority to conduct examinations and investigations
(1) For the purpose of discovering violations of this chapter or rules adopted under this chapter, discovering unsafe and unsound practices, or securing information lawfully ...
19.230.140 Joint examinations
(1) The director may conduct an on-site examination or investigation of the books, accounts, records, papers, documents, files, and other information used in the business ...
19.230.150 Reports
(1) A licensee shall file with the director within thirty business days any material changes in information provided in a licensee's application as prescribed in ...
19.230.160 Change of control
(1) A licensee shall: (a) Provide the director with written notice of a proposed change of control within fifteen days after learning of the proposed ...
19.230.170 Records
(1) A licensee shall maintain the following records for determining its compliance with this chapter for at least five years: (a) A general ledger posted ...
19.230.180 Money laundering reports
(1) Every licensee and its authorized delegates shall file with the director or the director's designee all reports required by federal currency reporting, recordkeeping, and ...
19.230.190 Confidentiality
(1) Except as otherwise provided in subsection (2) of this section, all information or reports obtained by the director from an applicant, licensee, or authorized ...
19.230.200 Maintenance of permissible investments
(1) A money transmitter licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles ...
19.230.210 Types of permissible investments
(1) Except to the extent otherwise limited by the director under RCW 19.230.200, the following investments are permissible for a money transmitter licensee under RCW ...
19.230.220 Administrative proceedings
All administrative proceedings under this chapter must be conducted in accordance with the administrative procedure act, chapter 34.05 RCW. Any licensee or authorized delegate subject ...
19.230.230 License suspension, revocation -- Receivership
(1) The director may issue an order to suspend, revoke, or condition a license, place a licensee in receivership, revoke the designation of an authorized ...
19.230.240 Suspension and revocation of authorized delegates
(1) The director may issue an order to suspend, revoke, or condition the designation of an authorized delegate, impose civil penalties, require payment of restitution ...
19.230.250 Unlicensed persons
(1) If the director has reason to believe that a person has violated or is violating RCW 19.230.030 or 19.230.080, the director or the director's ...
19.230.260 Temporary orders to cease and desist
(1) If the director determines that a violation of this chapter or of a rule adopted or an order issued under this chapter by a ...
19.230.270 Consent orders
The director may enter into a consent order at any time with a person to resolve a matter arising under this chapter or a rule ...
19.230.280 Violations -- Liability
(1) A licensee is liable for any conduct violating this chapter or rules adopted under this chapter committed by employees of the licensee. (2) A ...
19.230.290 Civil penalties
The director may assess a civil penalty against a licensee, responsible individual, authorized delegate, or other person that violates this chapter or a rule adopted ...
19.230.300 Criminal penalties
(1) A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this chapter ...
19.230.310 Administration and rule-making powers
In accordance with chapter 34.05 RCW, the director may issue rules under this chapter that are clearly required to govern the activities of licensees and ...
19.230.320 Fees
(1) The director shall establish fees by rule sufficient to cover the costs of administering this chapter. The director may establish different fees for each ...
19.230.330 Money transmitter delivery, receipts, and refunds
(1) Every money transmitter licensee and its authorized delegates shall transmit the monetary equivalent of all money or equivalent value received from a customer for ...
19.230.340 Prohibited practices
It is a violation of this chapter for any licensee, executive officer, responsible individual, or other person subject to this chapter in connection with the ...
19.230.900 Short title
This chapter may be known and cited as the uniform money services act.[2003 c 287 § 1.] ...
19.230.901 Effective date -- 2003 c 287
This act takes effect October 1, 2003.[2003 c 287 § 37.] ...
19.230.902 Implementation
The director or the director's designee may take such steps as are necessary to ensure that chapter 287, Laws of 2003 is implemented on October ...
19.230.903 Uniformity of application and construction
In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter ...
19.230.904 Severability -- 2003 c 287
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...
19.230.905 Captions not law
Captions used in this chapter are not any part of the law.[2003 c 287 § 41.] ...

Last modified: April 7, 2009