Section 26-2906 – PERMISSIBLE INVESTMENTS.
26-2906. PERMISSIBLE INVESTMENTS. Each licensee licensed under the provisions of this chapter must at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. […]
Section 26-2922 – HEARINGS — PROCEDURES.
26-2922. HEARINGS — PROCEDURES. The provisions of the Idaho administrative procedure act, chapter 52, title 67, Idaho Code, shall apply to any hearing afforded pursuant to the provisions of this chapter. History: [26-2922, added 1994, ch. 410, sec. 1, p. 1294.]
Section 26-2907 – LICENSE APPLICATION.
26-2907. LICENSE APPLICATION. Each application for a license under the provisions of this chapter shall be made in writing, under oath, and in a form prescribed by the director. Each application shall contain: (1) For all applicants: (a) The exact name of the applicant, the applicant’s principal address, any fictitious or trade name used by […]
Section 26-2923 – CIVIL PENALTIES.
26-2923. CIVIL PENALTIES. (1) If, after notice and hearing, the director finds that a person has violated the provisions of this chapter or a rule adopted under the provisions of this chapter, the director may order the person to pay to the director a civil penalty in an amount specified by the director, not to […]
Section 26-2901 – SHORT TITLE.
26-2901. SHORT TITLE. This chapter may be known and cited as the "Idaho Money Transmitters Act." History: [26-2901, added 1994, ch. 410, sec. 1, p. 1282.]
Section 26-2902 – DEFINITIONS.
26-2902. DEFINITIONS. Unless otherwise indicated, the following definitions shall apply to the terms set forth below wherever such terms are used in this chapter: (1) "Applicant" means a person filing an application for a license under the provisions of this chapter. (2) "Authorized representative" means an entity designated by the licensee under the provisions of […]
Section 26-2903 – LICENSE REQUIRED.
26-2903. LICENSE REQUIRED. (1) On or after the effective date of this act, no person except a person exempt pursuant to the provisions of section 26-2904, Idaho Code, shall engage in the business of money transmission without a license as provided in accordance with the provisions of this chapter. (2) A licensee may conduct its […]
Section 26-2904 – EXEMPTIONS.
26-2904. EXEMPTIONS. (1) This chapter shall not apply to: (a) The United States or any department, agency or instrumentality of the United States; (b) The United States post office; (c) The state or any political subdivision of the state; and (d) Banks, credit unions, savings and loan associations, savings banks or mutual banks organized under […]