Florida Statutes 560.212 – Financial liability
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 560.212
- Authorized vendor: means a person designated by a money services business licensed under part II of this chapter to act on behalf of the licensee at locations in this state pursuant to a written contract with the licensee. See Florida Statutes 560.103
- Currency: means the coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance. See Florida Statutes 560.103
- Licensee: means a person licensed under this chapter. See Florida Statutes 560.103
- Monetary value: means a medium of exchange, other than virtual currency, regardless of whether it is redeemable in currency. See Florida Statutes 560.103
- Sells: means to sell, issue, provide, or deliver. See Florida Statutes 560.103
- Virtual currency: means a medium of exchange in electronic or digital format that is not currency. See Florida Statutes 560.103
A licensee under this part is liable for the payment of all currency, monetary value, payment instruments, or virtual currency transmitted and payment instruments that it sells, in whatever form and whether directly or through an authorized vendor, as the maker, drawer, or principal thereof, regardless of whether such items are negotiable or nonnegotiable.