Payment Instruments. Money Transmission | Midpage

Collections
Connecticut General Statutes

Part V

Payment Instruments. Money Transmission

36a-595(Formerly Sec. 36-530). Short title: Money Transmission Act.36a-596(Formerly Sec. 36-531). Definitions.36a-597(Formerly Sec. 36-532). License required. Penalty.36a-598(Formerly Sec. 36-533). Application. Criminal history records check. Abandonment of application. Required system filing or notice to commissioner. License not assignable or transferable. Use of name. Automatic suspension.36a-599(Formerly Sec. 36-534). License fees. Surrender of license. Plan and accounting. Termination of business.36a-600(Formerly Sec. 36-536). Investigation of applicant. Issuance of license. Authority of commissioner to deny application for license.36a-601(Formerly Sec. 36-537). Renewal of license. Automatic suspension of renewal license. Notice. Opportunity for hearing.36a-602(Formerly Sec. 36-538). Surety bond. Investments in lieu of surety bond.36a-603(Formerly Sec. 36-539). Investments equal to amount of money transmissions. Virtual currency equal to amount owed or obligated. Investments and virtual currency held in trust.36a-604(Formerly Sec. 36-540). Net worth requirements.36a-605(Formerly Sec. 36-541). Examination of licensees.36a-606(Formerly Sec. 36-542). Reports. Annual financial reports required.36a-606aFederal reporting requirements. Anti-money-laundering program.36a-607(Formerly Sec. 36-543). Conduct of business authorized by delegate. Prohibited practices. Deadline to remit value received for transmission.36a-608(Formerly Sec. 36-544). Enforcement powers of commissioner. Removal from office and from employment or retention. Temporary order to cease business.36a-609(Formerly Sec. 36-545). Exemptions.36a-610(Formerly Sec. 36-546). Regulations.36a-611Maintenance of records. Unique identifier of license. Advertising of license.36a-612Notification of change in list of authorized delegates or locations.36a-613Virtual currency kiosks. Disclosures. Receipts. Fee and commission. Maximum daily transaction limits. Cancellation and refund. Requirements applicable to owners or operators.36a-614Regulations.