Timely transmission

(a) Every licensee shall forward all money received for transmission according to 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 may be a victim of fraud or that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur. (b) If a licensee fails to forward money received for transmission under this section, then the licensee shall respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation. Added by Act 2023, No. 442,§ 9, eff. 8/1/2023. (a) Every licensee shall forward all money received for transmission according to 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 may be a victim of fraud or that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur. (b) If a licensee fails to forward money received for transmission under this section, then the licensee shall respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation. Added by Act 2023, No. 442,§ 9, eff. 8/1/2023.