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2013 SESSION

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HB 2162 Money order sales and money transmission services; provisions.

Introduced by: Barbara J. Comstock | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Money order sales and money transmission services. Exempts from requirements governing the business of selling money orders or transmitting money (i) any state, or any department, instrumentality, agency, locality, municipality, or political subdivision thereof, and (ii) any entity that has been explicitly designated in a written agreement as an agent of any governmental authority or unit. Any funds collected by the agent shall be deemed to be received by the governmental authority or unit. Such a governmental authority or unit will not be barred from seeking indemnification from its agent for any direct losses incurred due to the agent's failure to remit funds in accordance with its agreement.


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