Section 06.55.890. Definitions.

Latest version.

In AS 06.55.820 - 06.55.840,
        (1) "fees" does not include revenue that a money services licensee generates from a money transmission when converting the currency of one government into the currency of another government;
        (2) "monetary equivalent" means, for money transmissions that will be redeemed in a currency other than the currency that the customer uses to purchase the money transmission, the amount of money in the currency of the government that the recipient of the money transmission is to receive, as converted at the retail exchange rate offered by the money transmission licensee to the customer for the money transmission;
        (3) "money transmission licensee" means a person who holds a money services license and a person who is an authorized delegate.

Notes

Recent Bills that will modify this

HB 271 MONEY SERVICES BUSINESS: REQS; LICENSING;

History

(Sec. 1 ch 55 SLA 2007)

                    
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