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Ala. Code § 8-7A-11

Relationship Between Licensee and Authorized Delegate.

Known as the Alabama Monetary Transmission Act

The act spans §§ 8-7A-1 to 8-7A-9 (27 sections).

(Act 2017-389, §2.)

(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.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.