Contents 489D-1 Short title 489D-2 Purpose 489D-3 License required 489D-4 Definitions 489D-5 Exclusions 489D-6 License qualifications 489D-6.2 Registration with NMLS 489D-7 Bond or other security device 489D-8 Permissible investments and statutory trust 489D-9 License and registration; application 489D-9.5 Limited exemption for financial institutions; financial institutions as authorized delegates 489D-10 Application and license fees 489D-11 Issuance of license; grounds for denial 489D-12 Renewal of license and annual report 489D-12.5 Penalties and other charges 489D-13 Licensee liability 489D-14 Extraordinary reporting requirements 489D-14.5 Name change 489D-15 Changes in control of a licensee 489D-16 Money laundering reports 489D-17 Examinations 489D-18 Maintenance of records 489D-19 Confidentiality of records 489D-20 Money transmitter receipts and refunds 489D-21 Authorized delegate contracts 489D-22 Authorized delegate; conduct 489D-22.5 Voluntary surrender of license 489D-23 Prohibited practices 489D-24 Suspension or revocation of licenses 489D-25 Suspension or revocation of authorized delegates 489D-26 Orders to cease and desist 489D-27 Consent orders 489D-28 Civil penalties 489D-29 Criminal penalties 489D-30 Unlicensed persons 489D-31 Administrative procedures 489D-32 Hearings 489D-33 Division functions 489D-34 Rules

     §489D-21  Authorized delegate contracts.  Licensees desiring to conduct licensed activities through authorized delegates shall authorize each delegate to operate pursuant to an express written contract.  These contracts shall provide the following:

     (1)  That the licensee appoints the person as the licensee's delegate with authority to engage in money transmission on behalf of the licensee;

     (2)  That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the commissioner;

     (3)  That the licensee is subject to supervision and rule by the commissioner; and

     (4)  That the authorized delegate certifies that it is in compliance with the recordkeeping and reporting requirements under title 31 United States Code section 5311 et seq., 31 Code of Federal Regulations part 1022, section 1022.210, and other federal and state laws pertaining to money laundering. [L 2006, c 153, pt of §1; am L 2013, c 167, §13]