Idaho § 26-2918 AUTHORIZED REPRESENTATIVE CONTRACTS

Idaho Statutes

§ 26-2918 — AUTHORIZED REPRESENTATIVE CONTRACTS

Idaho § 26-2918

Title 26BANKS AND BANKING

Ch. 29MONEY TRANSMISSION

This text of Idaho § 26-2918 (AUTHORIZED REPRESENTATIVE CONTRACTS) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 26-2918 (2026).

Text

Licensees desiring to conduct licensed activities through authorized representatives shall authorize such representative to operate pursuant to an express written contract, which shall provide the following:

(1)That the licensee appoints the person as its representative with authority to engage in money transmission on behalf of the licensee;

(2)That neither a licensee nor an authorized representative may authorize subrepresentatives without the written consent of the director;

(3)That licensees are subject to supervision and regulation by the director;

(4)An acknowledgement that the authorized representative consents to the director’s inspection, with or without prior notice to the licensee or authorized representative(s), of the books and records of authorized representative(s) of th

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Licensees desiring to conduct licensed activities through authorized representatives shall authorize such representative to operate pursuant to an express written contract, which shall provide the following:
(1) That the licensee appoints the person as its representative with authority to engage in money transmission on behalf of the licensee;
(2) That neither a licensee nor an authorized representative may authorize subrepresentatives without the written consent of the director;
(3) That licensees are subject to supervision and regulation by the director;
(4) An acknowledgement that the authorized representative consents to the director’s inspection, with or without prior notice to the licensee or authorized representative(s), of the books and records of authorized representative(s) of the licensee when the director has a reasonable basis to believe that the licensee or authorized representative is in violation of the provisions of this chapter; and
(5) That authorized representatives are under a duty to act only as authorized under the contract with the licensee and that an authorized representative that exceeds its authority is subject to cancellation of its contract and disciplinary action by the director.