“Pre-clear,” when used to designate a payment instrument, means a payment instrument which is sold by an agent of the issuer and which is paid by the issuer before the issuer receives a report of the sale from such agent.

Note: Authority cited: Sections 321 and 334, Financial Code. Reference: Division 1.2, Financial Code.

History

1. Amendment of Note filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33).