The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 079 : Money Services
Subchapter 009 : TIMELY TRANSMISSION, REFUNDS, AND DISCLOSURES BY MONEY TRANSMITTERS
(Cite as: 8 V.S.A. § 2560)-
§ 2560. Timely transmission
(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, rule, or regulation has occurred, is occurring, or may occur.
(b) If a licensee fails to forward money received for transmission in accordance with this section, the licensee must respond promptly to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation. (Added 2023, No. 110 (Adj. Sess.), § 47, eff. July 1, 2024.)
