Every licensee or its agent shall forward all money received for transmission or give instructions committing equivalent money to the person designated by the customer. Unless the transmission is for the payment of goods or services or unless otherwise ordered by his or her customer, this requirement shall be satisfied within 10 days after receiving that money.
Cal. Fin. Code § 2101
Consumer Disclosures
Known as the Money Transmission Act
The act spans §§ 2000–2176 (63 sections).
Amended by Stats. 2013, Ch. 533, Sec. 7
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.