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2019 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 7A - Alabama Monetary Transmission Act.
Section 8-7A-11 - Relationship between licensee and authorized delegate.
Universal Citation: AL Code § 8-7A-11 (2019)
Section 8-7A-11Relationship between licensee and authorized delegate.
(a) A contract between a licensee and an authorized delegate shall require the authorized delegate to operate in full compliance with this chapter.
(b) The licensee shall establish, furnish, and enforce policies and procedures sufficient to ensure that its authorized delegates comply with this chapter.
(c) An authorized delegate may not use a subdelegate to conduct money transmission on behalf of a licensee.
(Act 2017-389, §2.)
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