Sec. 06.55.703. Investigative powers.
(a) In its investigations under this chapter, the department may administer oaths or affirmations and, on its own motion or on the request of a party to a proceeding, may subpoena witnesses, compel the attendance of witnesses, take evidence, and require the production of material that is relevant to the investigation, including the existence, description, […]
Sec. 06.55.801. Uniformity of application and construction.
In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Sec. 06.55.802. Exclusions.
This chapter does not apply to (1) the United States or a department, an agency, or an instrumentality of the United States; (2) money transmission by the United States Postal Service or by a contractor on behalf of the United States Postal Service; (3) a state, a municipality, a county, or another governmental agency or […]
Sec. 06.55.810. Notices required.
(a) A money services licensee shall display a sign at each location where the money services licensee (1) provides money services under this chapter; and (2) has not designated an authorized delegate to provide money services on behalf of the money services licensee at the location. (b) An authorized delegate shall display a sign at […]
Sec. 06.55.820. Transmission.
Within 10 business days after receiving the money or equivalent value for money transmission, unless otherwise ordered by the customer or unless the money transmission licensee has reason to believe a crime has occurred, is occurring, or may occur as a result of the money transmission, a money transmission licensee shall (1) transmit after the […]
Sec. 06.55.830. Receipt.
(a) A money transmission licensee who receives money or equivalent value for a money transmission shall provide a receipt to the customer that clearly states the amount of the money or the equivalent value presented by the customer for the money transmission and the total fees charged by the money transmission licensee. (b) If a […]
Sec. 06.55.840. Refunds.
Within 10 days after receiving a written request for a refund, a money transmission licensee shall refund to a customer money equal to the money or equivalent value received from the customer for a money transmission, unless (1) before receiving the written request (A) the money has been transmitted to the person designated by the […]
Sec. 06.55.850. Establishment of fees and other charges.
(a) The department shall adopt regulations that establish the amount and manner of payment of fees required under this chapter. (b) The department shall establish fee levels under (a) of this section so that the total amount of fees collected for both money transmission licenses and currency exchange licenses under this chapter approximately equals the […]
Sec. 06.55.890. Definitions.
In AS 06.55.820 – 06.55.840, (1) “fees” does not include revenue that a money services licensee generates from a money transmission when converting the currency of one government into the currency of another government; (2) “monetary equivalent” means, for money transmissions that will be redeemed in a currency other than the currency that the customer […]
Sec. 06.55.990. Definitions.
In this chapter, unless the context indicates otherwise, (1) “authorized delegate” means a person whom a money services licensee designates to provide money services on behalf of the money services licensee; (2) “bank” means an institution organized under federal or state law that (A) accepts demand deposits or deposits that the depositor may use for […]