South Dakota § 51A-17-93 Licensee's duty to forward money received for transmission--Failure to forward.

South Dakota Statutes

§ 51A-17-93 — Licensee's duty to forward money received for transmission--Failure to forward.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-16 MONEY TRANSMISSION

(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 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 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.

South Dakota § 51A-17-93 (Licensee's duty to forward money received for transmission--Failure to forward.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.