Colorado § 11-110-901 Timely transmission

Colorado Statutes

§ 11-110-901 — Timely transmission

Colorado·Title 11 Financial·Art. Money Transmitters

(1)Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of a law, rule, or regulation has occurred, is occurring, or may occur.

(2)If a licensee fails to forward money received for transmission in accordance with this section, the licensee must respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation.

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(1) Every licensee shall forward all money
received for transmission in accordance with the terms of the agreement between
the licensee and the sender unless the licensee has a reasonable belief or a
reasonable basis to believe that the sender may be a victim of fraud or that a crime
or violation of a law, rule, or regulation has occurred, is occurring, or may occur.

(2) If a licensee fails to forward money received for transmission in
accordance with this section, the licensee must respond to inquiries by the sender
with the reason for the failure unless providing a response would violate a state or
federal law, rule, or regulation.

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