217.09
217.09(1) (1) Timely transmission. A 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 is a victim of fraud or that the transaction relates to a crime or violation of law, rule, or regulation. If a licensee fails to forward money received for transmission in accordance with this subsection, the licensee shall state the reason for the failure in response to any inquiries by the sender unless providing the response would violate applicable state or federal law.
217.09(2) (2) Refunds.
217.09(2)(a) (a) Except as provided in par.
(b), a licensee shall refund to the sender any money received for transmis
Free access — add to your briefcase to read the full text and ask questions with AI
217.09
217.09(1) (1) Timely transmission. A 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 is a victim of fraud or that the transaction relates to a crime or violation of law, rule, or regulation. If a licensee fails to forward money received for transmission in accordance with this subsection, the licensee shall state the reason for the failure in response to any inquiries by the sender unless providing the response would violate applicable state or federal law.
217.09(2) (2) Refunds.
217.09(2)(a) (a) Except as provided in par. (b) , a licensee shall refund to the sender any money received for transmission within 10 days of receipt of the sender’s written request for a refund.
217.09(2)(b) (b) Paragraph (a) does not apply if any of the following circumstances exist:
217.09(2)(b)1. 1. The money was forwarded within 10 days of the date on which the money was received for transmission.
217.09(2)(b)2. 2. Instructions were given committing an equivalent amount of money to the person designated by the sender within 10 days of the date on which the money was received for transmission.
217.09(2)(b)3. 3. The agreement between the licensee and the sender instructs the licensee to forward the money at a time that is beyond 10 days of the date on which the money was received for transmission. If funds have not yet been forwarded in accordance with the terms of the agreement between the licensee and the sender, the licensee shall issue a refund in accordance with the other provisions of this section.
217.09(2)(b)4. 4. The refund request concerns a transaction that the licensee has not completed because the licensee has a reasonable belief, or a reasonable basis to believe, that the sender is a victim of fraud or that the transaction relates to a crime or violation of law, rule, or regulation.
217.09(2)(b)5. 5. The refund request does not include sufficient information to enable the licensee to identify the sender or, in the event the sender has multiple transactions outstanding, the particular transaction to be refunded.
217.09(2)(b)6. 6. The money received for transmission is subject to the federal remittance rule, 12 CFR 1005 , subpart B.
217.09(2)(b)7. 7. The money was received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.
217.09(3) (3) Receipts.
217.09(3)(a) (a) Except as provided in par. (b) , a licensee or its authorized delegate shall provide the sender a receipt for money received for transmission. The receipt shall be in English and in the language principally used by the licensee or authorized delegate to advertise, solicit, or negotiate transactions conducted in person, electronically, or by phone, if other than English, and shall include all the following information, as applicable:
217.09(3)(a)1. 1. The name of the sender.
217.09(3)(a)2. 2. The name of the designated recipient.
217.09(3)(a)3. 3. The date of the transaction.
217.09(3)(a)4. 4. The unique transaction or identification number.
217.09(3)(a)5. 5. The licensee’s name, business address, and customer service telephone number.
217.09(3)(a)6. 6. The amount of the transaction in U.S. dollars.
217.09(3)(a)7. 7. Any fee charged by the licensee to the sender for the transaction.
217.09(3)(a)8. 8. Any taxes collected by the licensee from the sender for the transaction.
217.09(3)(b) (b) Paragraph (a) does not apply if any of the following circumstances exist:
217.09(3)(b)1. 1. The money received for transmission is subject to the federal remittance rule, 12 CFR 1005 , subpart B.
217.09(3)(b)2. 2. The money received for transmission is not primarily for personal, family, or household purposes.
217.09(3)(b)3. 3. The money is received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.