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PARRIS N. GLENDENING, Governor
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S.B. 774
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(4) THAT THE AUTHORIZED DELEGATE WILL OPERATE IN FULL
COMPLIANCE WITH ALL APPLICABLE LAWS AND REGULATIONS.
(C) THE LICENSEE SHALL PROVIDE TO EACH AUTHORIZED DELEGATE A
WRITTEN COPY OF THE LICENSEE'S OPERATING POLICIES AND PROCEDURES, WHICH
SHALL BE UPDATED ON A REASONABLE PERIODIC BASIS.
[(c)] (D) Copies of all [such] contracts REQUIRED UNDER THIS SECTION shall
be made available to the Commissioner, upon request.
[(d) (1) On or before January 10 and July 10 of each year, each licensee shall
file with the Commissioner a report that:
(i) Is in the form that the Commissioner requires; and
(ii) Is signed and verified by the licensee.
(2) The reports shall include, as of the preceding December 31 or June
30, respectively:
(i) An alphabetical listing of all agents of the licensee, including
name, business address, nature of business, and date of appointment of each agent;
(ii) The name, business address, nature of business, and date of
appointment of each new agent appointed by the licensee during the previous 6
months;
(iii) The name of any agent whose agency has been canceled by the
licensee during the previous 6 months; and
(iv) Any other information that the Commissioner requires.]
[12-412.
A licensee may not change the place of business for which a license is issued
unless the licensee notifies the Commissioner in writing of the proposed change.]
12-414.
(A) AN AUTHORIZED DELEGATE MAY NOT MAKE ANY FRAUDULENT OR FALSE
STATEMENT OR MISREPRESENTATION TO A LICENSEE OR TO THE COMMISSIONER.
(B) ALL MONEY TRANSMISSION SERVICES CONDUCTED BY AN AUTHORIZED
DELEGATE SHALL BE CONDUCTED STRICTLY IN ACCORDANCE WITH THE LICENSEE'S
OPERATING POLICIES AND PROCEDURES PROVIDED TO THE AUTHORIZED
DELEGATE.
(C) AN AUTHORIZED DELEGATE SHALL REMIT ALL MONEY FUNDS OWED TO
THE LICENSEE IN ACCORDANCE WITH THE TERMS OF THE CONTRACT BETWEEN THE
LICENSEE AND THE AUTHORIZED DELEGATE.
(D) (1) ALL FUNDS RECEIVED BY AN AUTHORIZED DELEGATE FROM THE
SALE OF A PAYMENT INSTRUMENT, LESS FEES, SHALL CONSTITUTE TRUST FUNDS
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- 4861 -
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