§ 8-7A-3 — Exclusions

Alabama § 8-7A-3

• Jurisdiction: Alabama
• Title 8: Commercial Law and Consumer Protection
• Ch. 7A: Alabama Monetary Transmission Act

Text

This chapter does not apply to any of the following:
(1) The United States or a department, agency, or instrumentality thereof.
(2) The transmission of money by the United States Postal Service or by a contractor on behalf of the United States Postal Service.
(3) A state, county, city, or any other governmental agency or governmental subdivision of a state.
(4) Electronic funds transfer of governmental benefits for a federal, state, or governmental agency by a contractor on behalf of the United States or a department, agency, or instrumentality thereof, or a state or governmental subdivision, agency, or instrumentality thereof.
(5) A board of trade designated as a contract market under the federal Commodity Exchange Act, 7 U.S.C. Sections 1-25 (1994), or a person that, in the ordinary course of business, provides clearance and settlement services for a board of trade to the extent of its operation as or for such a board.
(6) A registered futures commission merchant under the federal commodities laws to the extent of its operation as such a merchant.
(7) A bank, bank holding company, office of an international banking corporation, or a branch of a foreign bank, provided that such international banking corporation or foreign bank is subject to regulation significantly similar to United States or state chartered banks and deposits are insured.

Legislative History

(Act 2017-389, §2.)