TITLE 19
Financial institutions

CHAPTER 19-14.3
Sale of Checks and Electronic Money Transfers

SECTION 19-14.3-3.2


§ 19-14.3-3.2 Forwarding of documents to foreign correspondent – Receipt for money or documents.

Every person, whether engaged in the foreign exchange brokerage business or not, to whom any money, draft, or credit is delivered to be forwarded to a foreign correspondent, shall forward the credit accompanied by draft credits, or any documents necessary and essential to carrying out the transaction, immediately after the receipt, sale, deposit, or other transaction by which the money, draft, or credit is delivered to the person for forwarding. That person shall also, upon delivery of any money, draft, or credit to be forwarded to a foreign correspondent, give a receipt, showing what the current rate of exchange of the foreign currency to which the money, draft, or credit is to be transferred is on the day of the transaction, and the amount expressed in the denomination of the foreign currency, according to the rate of exchange, which is to be forwarded as set forth above.

History of Section.
(P.L. 2001, ch. 129, § 3.)