Section 26-2917 – SUSPENSION OR REVOCATION OF LICENSES.
26-2917. SUSPENSION OR REVOCATION OF LICENSES. After notice and opportunity for hearing, the director may suspend or revoke a licensee’s license if the director finds that: (1) Any fact or condition exists that, if it had existed at the time when the licensee applied for a license, would have been grounds for denying such application; […]
Section 26-2918 – AUTHORIZED REPRESENTATIVE CONTRACTS.
26-2918. AUTHORIZED REPRESENTATIVE CONTRACTS. Licensees desiring to conduct licensed activities through authorized representatives shall authorize such representative to operate pursuant to an express written contract, which shall provide the following: (1) That the licensee appoints the person as its representative with authority to engage in money transmission on behalf of the licensee; (2) That neither […]
Section 26-2919 – AUTHORIZED REPRESENTATIVE CONDUCT.
26-2919. AUTHORIZED REPRESENTATIVE CONDUCT. (1) An authorized representative shall not make any fraudulent or false statement or misrepresentation to a licensee or to the director. (2) All money transmission or sale or issuance of payment instrument activities conducted by authorized representatives shall be strictly in accordance with the licensee’s written procedures provided to the authorized […]
Section 26-2920 – REVOCATION OR SUSPENSION OF AUTHORIZED REPRESENTATIVES.
26-2920. REVOCATION OR SUSPENSION OF AUTHORIZED REPRESENTATIVES. (1) If, after notice and a hearing, the director finds that any authorized representative of a licensee or any director, officer, employee, or controlling person of such authorized representative: (a) Has violated any provision of this chapter, or of any rule or order issued under the provisions of […]
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 […]