A. Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of law has occurred, is occurring or may occur.

Terms Used In Arizona Laws 6-1224

  • Fraud: Intentional deception resulting in injury to another.
  • Licensee: means a person licensed under this article. See Arizona Laws 6-1201
  • money received for transmission: means receiving money or monetary value in the United States for transmission within or outside the United States by electronic or other means. See Arizona Laws 6-1201

B. If a licensee fails to forward money received for transmission pursuant to this section, the licensee must respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law.

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